Notices

Published Date: 30 December 2025

Notice SFA 04-N24 Reporting of Misconduct of Representatives by Holders of Capital Markets Services Licence and Exempt Persons [To be effected on 1 January 2027]

Requirements for financial institutions to report misconduct of representatives

Issued pursuant to: Securities and Futures Act 2001

Applies to: Dealing in Capital Markets Products , Product Financing , Providing Custodial Services , Licensed Fund Management Company , Corporate Finance Advisory , REIT Management , Credit Rating Agency , Securities Crowdfunding , Venture Capital Fund Management Company , Exempt Capital Markets Services Entity

View Notice Notice SFA 04-N24 Reporting of Misconduct of Representatives by Holders of Capital Markets Services Licence and Exempt Persons [To be effected on 1 January 2027] (240.9 KB)

This notice applies to:

Capital markets services licensees.
Banks, merchant banks, finance companies and insurers conducting regulated activities under the Securities and Futures Act 2001.

It sets out the obligations of these financial institutions for misconduct committed by their representatives and former representatives including:

Reporting requirements.
Provision of a copy of the misconduct report (and updates to the misconduct report) to the representative.
Record keeping.
Conduct of internal investigations.
Taking of corrective actions.

30 December 2025: Notice SFA 04-N24 (240.9 KB) issued.