Regulations
Last Revised Date: 08 October 2018

Securities And Futures (Financial And Margin Requirements For Holders Of Capital Markets Services Licences) Regulations

Sets out the minimum capital and financial resources, and other financial and margin requirements.

Apply to all capital markets services (CMS) licensees.

Set out requirements for all CMS licensees to:

  • Maintain a minimum base capital.
  • Maintain financial resources (FR) above the total risk requirements (TRR) and report to MAS when FR falls below a threshold.
  • Lodge financial returns with MAS.

 

In addition, they set out other financial and margin requirements that are applicable to CMS licensees conducting certain regulated activities. These include the requirements to:

  • Maintain aggregate indebtedness within a threshold
  • Maintain a reserve fund
  • Seek MAS' approval for a reduction in share capital
  • Notify MAS prior to the issuance of preference shares or drawing down a qualified subordinated loan
  • Obtain margin from customers