Suppose a company enters into futures contracts on its own behalf. Which of the following claims will be right for the above-mentioned situation under the Securities & Futures Act / Securities & Futures Regulations?

The holder of a CMS license shall retain a trust account with an overseas entity under all of the terms given below, except one. Choose the omission.

Before establishing a trust or custody account with a finance company, the holder of a CMS license must execute:

MAS proposes to incorporate a client identity regulation where Financial institutions must develop agreements with their clients to enable the supply of UBO (Ultimate beneficial owners) information to MAS or some other law enforcement entity within:

Law 39(3) on securities and futures (Licensing and conduct of business) Regulations (‘SF(LCB)R’) mandate the holder of the Capital Markets Services license (‘CMSL’) to maintain a written record of the customer’s request. The O&T ( Orders and Trades) communication records are significant as:
I. They encourage offenders to conceal their identities.
II. It helps them with accounts that the CMS license holders are not allowed to handle.
III. They aid with the evaluation of disagreements with customers surrounding the specifics of the trades.
IV. They represent vital evidence in the prosecution of consumer manipulation of the identity of the people who directed the O&T.

MAS wants to incorporate a provision for FIs (financial institutions) to report all correspondence between their trading officers and an O&T officer in the customer’s account on certain stock market items, even though those correspondence do not result in an actual transaction. Personal electronic devices can be used where:
I. The FI is capable of suppressing the initial correspondence, including instant messages.
II. The FI is capable of capturing and preserving the initial correspondence, including instant messages.
III. The intermediary shall make a call back to the control office on the FI’s registered telephone line for each O&T.
IV. Trade representatives shall return a call to the person who has directed the O&T on the FI’s registered telephone line on each O&T.

MAS notices that there might be legal grounds for using cash or third parties pay by the group. The current guidelines set out in the AML Notice are done in order to reduce:
I. Loan initiation
II. Threats to finance by terrorists
III. Money laundering
IV. Unlicensed registration of representatives

Marketing and distribution practices in retailers and public locations expand the exposure of financial institutions to the general public. If such practices are not adequately handled, they may lead to elevated competition costs for consumers. In order to minimize these threats, financial institutions should:

Financial institutions must execute call-backs or surveys for all customers prospected at retailers and public places before or during the free-look or cool-off phase to make sure that clients have comprehended their purchases closed at such locations. This precaution is expected to be implemented by financial institutions for the sale of:
I. Trade repository policies
II. Accident and health policies
III. Collective investment schemes
IV. Life insurance policies

Callbacks or surveys should be conducted by the financial institution to clients when their representatives are prospective and near sales to retailers and public places. This would allow the financial institution to identify improper conduct such as:
I. Improper behavior by the sellers
II. Mis-selling
III. Money laundering
IV. Misrepresenting or selling influence

Which of the following protections should not be put into effect by financial institutions for the selling of banking and general insurance commodities/services, where the banking or general insurance product or service bought is relevant to the product or service bought by customers?

How should financial institutions ensure that adequate services are used and that reliable procedures are set in place to oversee their promotion and distribution structures in stores and public places?

Which of the following steps taken by financial firms ensure that promotion and delivery operations are carried out in a competent way as they can be carried out more frequently?

According to the Monetary Authority of Singapore, the Financial Institutions shall maintain a ledger having data on their marketing and delivery plans at retailers and public places. The registry should maintain a record for:
I. Financial goods and/or services that are sold or delivered.
II. The time duration invested in setting up the arrangements and winning customers.
III. The sites of the selling and delivery systems and/or activities of the financial institution.
IV. Identity of the leaders and managers involved.

In accordance with the Guidelines on Standards of Conduct for Marketing and Distribution Activities, representatives promoting and selling financial products and services on behalf of their financial institutions should:
I. Adopt ethical principles.
II. Enhance the professional image of the finance sector.
III. Be skilled and competent.
IV. Boost the profits of the respective financial firm and avoid keeping a record of losses.

Which of the following are the economic advantages of the marketing and distribution operations carried out by financial institutions in public locations or in-store premises?
I. It boosts their exposure.
II. It increases the chances of convincing customers for mortgage plans.
III. It maximizes the chances of an uplift in the service provider’s reputation in the market.
IV. It extends its scope to a broader community of prospective buyers.

The financial institution should specifically describe and explain to its representatives the details to be revealed and the manner in which the disclosures should be provided. Examples of good practice include:
I. Requiring members to specifically show off the quality of their goods in order to represent their financial institution.
II. Provide a checklist for members to stick to as they meet consumers.
III. Requiring agents to supply consumers with their name cards.
IV. Ensure that the executives have an opportunity in the close surroundings of the sales area.

Provided that selling and sales practices in stores and public spaces could theoretically contribute to elevated market conduct risks for consumers, the financial institution should determine the regulatory record of the representative by evaluating a variety of factors. Choose the exclusion from the options given below.

Financial institutions should assure that any benefit given to consumers does not excessively affect the choice of customers to buy any financial goods or services. Examples of good practices in this respect do not include:

The financial institution should ensure that sufficient procedures are placed in place to account for and safely hold payments earned under marketing and delivery agreements found in stores and public areas. Choose a case that does not stand out as a positive idea in this respect.

MAS encourages the Board and the senior management of financial companies to set the correct tone in the execution of marketing and delivery operations to consumers in a responsible and ethical way. Which of the safeguards listed below is incorrectly stated with respect to the standards of conduct for marketing and distribution activities expected from the respective representatives?

Why does MAS limit the use of the label “Financial Planner” only to holders of a financial adviser’s license and to exempt financial advisors?

Pursuant to the Financial Advisors Act / Financial Advice Legislation, a registered financial planner who is an international corporation shall, at all times, retain net head office funds not less than:
I. Minimum net central office funds needed under Regulation 15, whichever is higher.
II.1⁄4 of the equivalent annual budget for the previous financial year.
III.3⁄4 of the minimum paid-up capital required by Regulation 15, whichever is lower.
IV. 1⁄4 of the equivalent monthly spending for the previous financial year.

From the core enhanced criteria of the Financial Advisory Industry Review (FAIR) for approved financial advisors or applicants for financial advice, which of the following are required for Chief Executive Officer (CEO)?
I. Appropriate formal/academic or technical qualifications.
II. Minimum 10 years of applicable career experience, of which at least 5 years must have been in a management position.
III. Resident of Singapore.
IV. Minimum 5 years of appropriate work experience for the Executive Director (ED), of whom at least 3 years must have been in managing capacity.

What do accredited financial advisors need to do if they plan to terminate the provision of every or any form of financial advice service?
I. Ensure that the responsibilities and commitments to all customers/product suppliers have been entirely discharged or compensated for any form of financial advice service after the end of the operation.
II. Make sure that its responsibilities and commitments to all clients/product suppliers have been entirely discharged or paid for in all forms of financial advice services until it ceases to function.
III. Provide a notice in Form 22 to notify MAS of the termination of any or some kind of financial advisory services by MAS and its members.
IV. Provide a notice in Form 5 to notify MAS of the termination of any or some kind of financial advisory services by MAS and its members.

What type of representative scheme has the objective of encouraging the recruitment of experienced people in Singapore and allowing them to begin to work as quickly as practicable?

Regulations and licensing criteria for a form of capital market entity called Benchmark Managers and Applicants shall provide an authorization from:
I. Designated benchmark submitter
II. Authorized benchmark submitter
III. Authorized benchmark adviser
IV. Authorized benchmark administrator

Merchant banks are authorized under the Singapore Monetary Authority (MAS) Act and their activities are regulated by the Merchant Bank Instructions and the Merchant Bank Operations Guidelines. Their activities exclude:

Wholesale banks are authorized according to and regulated by the Banking Act. Wholesale banks can participate in the same range of banking activities as full banks, except that:

As per MSA, international full banks with Qualified Full Bank (QFB) privileges can run a total of: