Notices
Published Date: 28 September 2023

Notice SFA 04-N22 Competency Requirements for Representatives of Holders of Capital Markets Services Licence and Exempt Financial Institutions [To be effected on 1 April 2024]

Eligibility and ongoing requirements for representatives of Holders of Capital Markets Services Licence and Exempt Financial Institutions, including entry, CMFAS examination and continuing professional development requirements.

This notice applies to:

  • Individuals who act or hold themselves out to be representatives who carry out regulated activities.
  • Capital markets services (CMS) licensees.
  • Banks, merchant banks, finance companies and insurers who have appointed representatives conducting regulated activities under the SFA.

It will supersede Notice SFA 04-N09 on the Minimum Entry and Examination Requirements for Representatives of Holders of Capital Markets Services Licence and Exempt Financial Institutions, which will be cancelled with effect from 1 April 2024.

It sets out the entry, examination and continuing professional development requirements for representatives, and the obligations of the financial institutions regarding their representatives. 

Amendment Notes

01 April 2024
SFA 04-N22 (451 KB) takes effect.