Capital Markets Group
The Capital Markets Group is responsible for admitting and supervising capital markets intermediaries, regulating activities, and supervising markets and infrastructure.
Capital Markets Intermediaries Departments I, II and III
The Capital Markets Intermediaries (CMI) Departments have collective responsibility for the admission and supervision of capital markets intermediaries, including securities and derivatives brokers, fund managers, real estate investment trust (REIT) managers, corporate finance advisers, financial advisers, insurance brokers, trust companies, and credit rating agencies.
CMI administers the licensing and business conduct rules for these intermediaries to promote safe, sound and fair-dealing intermediaries. In addition, CMI is also responsible for the supervision of individuals who have been appointed to act as representatives for these intermediaries.
Broadly, CMI I supervises financial advisers, insurance brokers and credit rating agencies. CMI II supervises fund managers and REIT managers, while CMI III supervises securities and derivatives brokers, corporate finance advisers and trust companies. The Conduct Surveillance and Analytics division in CMI II also supports the three departments in the use of business and data analytics in their conduct supervision.
Corporate Finance and Consumer Department
The Corporate Finance and Consumer Department has supervisory responsibility for capital markets through the administration of the Securities and Futures Act, the Business Trusts Act and the Singapore Code on Take-overs and Mergers.
(i) the offering of securities, business trust, Real Estate Investment Trusts and collective investment schemes;
(ii) the conduct of takeover and merger transactions;
(iii) the disclosure of interests in securities of listed entities and
(iv) SGX as a listed entity.
It also houses the Consumer Issues Division which spearheads initiatives in financial education and coordinates MAS' responses to consumers who have disputes with financial institutions.
Markets Policy and Infrastructure Department
The Markets Policy and Infrastructure Department formulates policies on capital markets to ensure fair, orderly and transparent markets, and safe and efficient financial market infrastructures. It is also responsible for formulating policies on market conduct to achieve fair outcomes for investors and shape corporate governance standards. In addition, the department has supervisory responsibility for market infrastructure, including exchanges, central counterparties, the central depository, trade repositories, and benchmark administrators.