Form 1A is used as an application for a Capital Markets Services (CMS) License in fund management. Details of relevant professionals should be submitted in Annex A, unless they are representatives or directors of the Fund Management Company (FMC) in which case details should be provided in Form 3A or Form 11 instead).

Form 3A is used for the appointment of a representative in a Fund Management Company (FMC).

Form 11 is used for the appointment of a director or chief executive officer (CEO) of a Fund Management Company (FMC).

Form 22A is required for the registration of a Registered Fund Management Company (RFMC).

A Retail Licensed Fund Management Company (Retail LFMC) or A/I Licensed Fund Management Company (A/I LFMC) uses MASNET for the submission of following returns on quarterly (unaudited) basis on SF(FMR)R Forms within 14 days of quarter-end:-

(a) Statement of Assets and Liabilities.
(b) Statement of Financial Resources, Total Risk Requirement and Aggregate Indebtedness.

A Retail Licensed Fund Management Company (Retail LFMC) or A/I Licensed Fund Management Company (A/I LFMC) uses MASNET for the submission of following returns on quarterly (unaudited) basis on SF(FMR)R Forms within 14 days of quarter-end:-

(a) Statement of Assets and Liabilities.
(b) Statement of Financial Resources, Total Risk Requirement and Aggregate Indebtedness.

A Retail Licensed Fund Management Company (Retail LFMC) or A/I Licensed Fund Management Company (A/I LFMC) uses MASNET for the submission of following returns on quarterly (unaudited) basis on SF(FMR)R Forms within 14 days of quarter-end:-

(a) Statement of Assets and Liabilities.
(b) Statement of Financial Resources, Total Risk Requirement and Aggregate Indebtedness.

A Retail Licensed Fund Management Company (Retail LFMC) or A/I Licensed Fund Management Company (A/I LFMC) uses MASNET for the submission of following returns on the annual (audited) basis on SF(FMR)R Forms within 5 months of financial year-end:-

(a) Statement of Assets and Liabilities.
(b) Statement of Financial Resources, Total Risk Requirement and Aggregate Indebtedness.

Capital Markets Services (CMS) License should be held by a Venture Capital Fund Manager (VCFM) for fund management in a Fund Management Company (FMC).

Form 25A should be used by a Venture Capital Fund Manager (VCFM) for the submission of return related to annual declaration for VCFMs via Corporate Electronic Lodgment (CeL) system on annual basis (within 1 month of financial year-end).

Form 25A should be used by a Venture Capital Fund Manager (VCFM) for the submission of return related to annual declaration for VCFMs via Corporate Electronic Lodgment (CeL) system on annual basis (within 1 month of financial year-end).

Form 23A should be used by a Venture Capital Fund Manager (VCFM) for the notification of the change of VCFM’s particulars via the Corporate Electronic Lodgment (CeL) system within 14 days of the change.

Form 23A should be used by a Venture Capital Fund Manager (VCFM) for the notification of the change of VCFM’s particulars via the Corporate Electronic Lodgment (CeL) system within 14 days of the change.

The following documents should be required for the admission as a Venture Capital Fund Manager (VCFM) under the Monetary Authority of Singapore (MAS):-

(a) A signed declaration by VCFM’s directors (from Form 1V) is required.
(b) VCFM’s business profile as per the Accounting and Corporate Regulatory Authority’s record is required.
(c) VCFM’s shareholding chart showing all immediate, intermediate and ultimate shareholders is required.

The Monetary Authority of Singapore (MAS) expects a relevant person to be competent, honest, to have integrity and to be of sound financial standing. This provides MAS with the assurance that the relevant person is willing and able to fulfill its or his obligations under any written law. This also underpins any requirements that the relevant person performs the activities regulated under the relevant legislation efficiently, honestly, fairly and acts in the best interests of its or his stakeholders and customers.

According to the guidelines on fit and proper criteria, the following appointment best describes the “key officer” in relation to an exempt person of a Fund Management Company (FMC) that is regulated by the Monetary Authority of Singapore (MAS):-

(a) A director or an equivalent person is known as a key officer.
(b) A chief executive officer (CEO) or an equivalent person is known as a key officer.

The following persons are known as “relevant persons” in relation to a bank incorporated in Singapore that is licensed by the Monetary Authority of Singapore (MAS) under the Banking Act (Cap.19)?

(a) A substantial shareholder of the bank is known as relevant person.
(b) A director of the bank is known as a relevant person.
(c) A chief executive officer or deputy chief executive officer of the bank is known as a relevant person.
(d) A chief financial officer of the bank is known as a relevant person.
(e) Head of Treasury of the bank is known as a relevant person.

The following persons are known as “relevant persons” in relation to a bank that is incorporated outside Singapore and is licensed by the Monetary Authority of Singapore (MAS) under the Banking Act?

(a) A chief executive officer or deputy chief executive officer of the bank is known as a relevant person.
(b) Head of Treasury of the bank is known as a relevant person.

A “relevant persons” in relation to a person whose activity is regulated by the Monetary Authority of Singapore (MAS) under the FAA are known as:-

(a) A substantial shareholder or an equivalent person of a licensed FA.
(b) A licensed FA.
(c) An appointed or provisional representative under the FAA.
(d) A chief executive officer, director or an equivalent person of a holder of
a FA license.
(e) An exempt financial institution or its representatives.
(f) A person for which an application for authorization has been made to MAS under the applicable provision in the FAA.
(g) An exempt person or its representatives.

According to the guidelines on fit and proper criteria, if the relevant person is an institution than the following points should be satisfied by it to the Monetary Authority of Singapore (MAS) to establish that it is fit and proper:-

(a) An institution should satisfy MAS that all of its substantial shareholders meet the fit and proper criteria of these Guidelines.
(b) An institution should satisfy MAS that each of its directors and chief executive officer, or equivalent persons meet the fit and proper criteria of these Guidelines.
(c) An institution should satisfy MAS that it has in place appropriate recruitment policies, adequate internal control systems and procedures that would reasonably ensure that the persons that it employs, authorizes or appoints to act on its behalf, in relation to its conduct of the activity regulated under the relevant legislation, meet the fit and proper criteria of these Guidelines.

The following types of activities are regulated under the Securities and Futures Act (SFA) that are listed in the second schedule to the SFA:-

(a) Dealing in capital markets products is regulated under the SFA.
(b) Advising on corporate finance is regulated under the SFA.
(c) Fund management is regulated under the SFA.
(d) Real estate investment trust management is regulated under the SFA.
(e) Product financing is regulated under the SFA.
(f) Providing custodial services is regulated under the SFA.
(g) Providing credit rating services is regulated under the SFA.

Except for those who are specifically exempted, any person who wishes to conduct any of the above-regulated activities will need to obtain the requisite license under the SFA.

Under the Securities and Futures Act (SFA), a person who wishes to carry on a business in any regulated activity is required to hold a capital markets services (CMS) license for that regulated activity. A CMS license is granted only to a corporation. An individual who conducts that regulated activity for the holder of a CMS license is required to be an appointed, provisional or temporary representative of the CMS license holder for that regulated activity.

Under the Securities and Futures Act (SFA), a person who wishes to carry on a business in any regulated activity is required to hold a capital markets services (CMS) license for that regulated activity. A CMS license is granted only to a corporation. An individual who conducts that regulated activity for the holder of a CMS license is required to be an appointed, provisional or temporary representative of the CMS license holder for that regulated activity.

A capital markets services (CMS) license holder will be issued an electronic license (e-license), which is accessible via the CoRe system within MASNET (under “Corporate Lodgment” section). There is no need for a holder of a CMS license to renew its license. The license is valid until the following occasions:-

(a) Its holder ceases to carry on business in every type of the regulated activities to which the license relates (which the license holder would need to notify MAS by submitting Form 7 within 14 days of such cessation).
(b) Its license is revoked by MAS.
(c) Its license lapses in accordance with section 95 of the SFA.

A capital markets services (CMS) license holder will be issued an electronic license (e-license), which is accessible via the CoRe system within MASNET (under “Corporate Lodgment” section). There is no need for a holder of a CMS license to renew its license. The license is valid until the following occasions:-

(a) Its holder ceases to carry on business in every type of the regulated activities to which the license relates (which the license holder would need to notify MAS by submitting Form 7 within 14 days of such cessation).
(b) Its license is revoked by MAS.
(c) Its license lapses in accordance with section 95 of the SFA.

A capital markets services (CMS) license holder will be issued an electronic license (e-license), which is accessible via the CoRe system within MASNET (under “Corporate Lodgment” section). There is no need for a holder of a CMS license to renew its license. The license is valid until following occasions:-

(a) Its holder ceases to carry on business in every type of the regulated activities to which the license relates (which the license holder would need to notify MAS by submitting Form 7 within 14 days of such cessation).
(b) Its license is revoked by MAS.
(c) Its license lapses in accordance with section 95 of the SFA.

A capital markets services (CMS) license holder will be issued an electronic license (e-license), which is accessible via the CoRe system within MASNET (under “Corporate Lodgment” section). There is no need for a holder of a CMS license to renew its license. The license is valid until the following occasions:-

(a) Its holder ceases to carry on business in every type of the regulated activities to which the license relates (which the license holder would need to notify MAS by submitting Form 7 within 14 days of such cessation).
(b) Its license is revoked by MAS.
(c) Its license lapses in accordance with section 95 of the SFA.

A capital markets services (CMS) license holder will be issued an electronic license (e-license), which is accessible via the CoRe system within MASNET (under “Corporate Lodgment” section). There is no need for a holder of a CMS license to renew its license. The license is valid until the following occasions:-

(a) Its holder ceases to carry on business in every type of the regulated activities to which the license relates (which the license holder would need to notify MAS by submitting Form 7 within 14 days of such cessation).
(b) Its license is revoked by MAS.
(c) Its license lapses in accordance with section 95 of the SFA.

The company is required to apply the Monetary Authority of Singapore (MAS) to add regulated activities to its capital markets services (CMS) license. The application should be made in Form 5 pursuant to Securities and Futures (Licensing and Conduct of Business) Regulations [SF(LCB)R], and submitted together with the prescribed application fee. Upon approval, MAS will issue a new e-license to reflect the additional regulated activities and its attendant license conditions. The new e-license is accessible via CoRe system within MASNET (under “Corporate Lodgment” section) and supersedes the e-license issued previously. The company shall commence the additional regulated activities only after the new e-license is issued.

A company that holds a capital markets services (CMS) license for dealing in capital markets products and wishes to operate discretionary accounts on behalf of its customers, would need to apply to the Monetary Authority of Singapore (MAS) to add the activity of fund management to its license. Its representatives who intend to operate such discretionary accounts are required to be an appointed, provisional or temporary representative for the regulated activity of fund management.