Covered three proposals: (i) Regulatory framework for capital markets services licensees, banks, merchant banks and finance companies dealing in OTC derivative contracts under the SFA, including capital, business conduct and other requirements; (ii) exemption for execution-related advice on listed excluded investment products under the FAA; and (iii) transferring the regulation of marketing of CIS from the FAA to SFA. Guidelines for financial advisers on the requirements in Notice FAA-N06 for the prevention of money laundering and countering the financing of terrorism. an appointed representative or a provisional representative of a specified financial adviser; “specified products” has the same meaning as in section 2(1) of the Securities and Futures Act; “spot foreign exchange contract” has the same meaning as in section 2(1) of the Securities and Futures Act; “venture capital fund” has the same meaning as in regulation 14(8) of the Securities and Futures (Licensing and Conduct of Business) Regulations (Cap. 32C Exemption for foreign research houses, 32CA Exemption for foreign companies providing financial advisory service in respect of specified investment products, 32CB Exemption for certain entities providing financial advisory service under approved arrangements, 32D Exemption for, and application of Regulations to, venture capital fund manager and its representatives, 33 Exemption from section 25 of Act for advising accredited investor or expert investor, 33A Exemption from section 27 for dealers and related exemptions, 34 Exemption from section 27 of Act in certain circumstances, 34A Non‑application of sections 38 and 39 of Act for certain persons, 37 Reporting requirements for exempt financial advisers, 38 Exemption of licensed financial advisers for distribution of direct purchase insurance products, 39 Exemption of specified financial advisers for distribution of direct purchase insurance products, 40 Exemption of appointed or provisional representative of exempt adviser for distribution of direct purchase insurance products, 40A Exemption of customer service officers of exempt adviser for distribution of direct purchase insurance products, 40B Definitions of terms in regulations 38 to 40B, 40BB Exemption of licensed financial adviser in relation to providing financial advisory service in respect of specified OTC derivatives contracts, 40BC Exemption of exempt financial adviser in relation to providing financial advisory service in respect of specified investment products, 40BD Exemption of person other than licensed or exempt financial advisers in relation to providing financial advisory service in respect of specified OTC derivatives contracts, 40BE Exemption of appointed representative in relation to providing financial advisory service in respect of specified investment products, 40BF Exemption of person (other than appointed representative) acting as representative in relation to any financial advisory service in respect of specified investment products, 40BG Exemption of person performing any financial advisory service in respect of specified OTC derivatives contracts for person other than licensed or exempt financial adviser, 40BH Exemption from section 23B(3) of Act, 40D Permitted businesses under section 55A(1)(iii) of Act, 40E Prescribed criteria for consent under section 55C(2) of Act. Regulations, guidance and licensing for payment service providers and systems. 32B Exemption for advising institutional investor, related corporation, etc. The Federal Aviation Administration last month rescinded its grounding order for the plane. The FAA has offices in Singapore, where our Asia Pacific Director is located, as well as Tokyo, Japan; Beijing, China; and New Delhi, India. Prescribes the deletion of "marketing collective investment schemes" as a type of financial advisory service following changes from the Securities and Futures (Amendment) Act 2017. The approval will give Amazon broad privileges to "safely and efficiently deliver packages to customers," the agency said. Nonetheless, exempt financial advisers and their appointed and provisional representatives are required to comply with the business conduct requirements stipulated in the FAA. Guidance on the assessment criteria and application procedures for approval of arrangements under Regulation 32CB and the MAS’ supervisory expectations in relation to approved arrangements under the ACMF Professional Mobility Framework. MIAMI – Last Friday, NASA and the Federal Aviation Administration (FAA) signed an MOU to collaborate and support commercial space activities. MIAMI – The US FAA announced in a December 28 press release two highly anticipated new regulations governing Unmanned Aircraft Systems (UAS), commonly referred to as drones.. S 462/2002; S 83/2003; S 537/2003]. 289); an option in respect of any note, bond or Treasury Bill; and. [Updated in Nov 10] 9 Under section 2 of the FAA, “financial adviser” means a person who Read the Department of State’s COVID-19 page before you plan any international travel.. “exchange-traded derivatives contract” has the same meaning as in section 2(1) of the Securities and Futures Act; “existing customer”, in relation to a person (, “expert investor” has the same meaning as in section 4A(1)(. Guidelines on licensing and other pertinent requirements applicable to digital advisers. 81A) or section 2 of the Government Securities Act (Cap. 40G Conditions for appointment of appointed representative or provisional representative despite section 23B(3A) of Act, —(1)  In these Regulations, unless the context otherwise requires —, Revised Editions of Subsidiary Legislation. No. Copyright © 2021 Government of Singapore. This Compliance Toolkit is to guide and facilitate financial advisers’ compliance with the various MAS approval and reporting requirements and timelines. The FAA builds on earlier drone regulations Recognizing the economic potential of commercial drones, the FAA began regulating the sector several years ago. Additionally, the FAA participates in ICAO regional meetings as well as Asia-Pacific Economic Cooperation (APEC) and Association of Southeast Asian Nations (ASEAN) aviation initiatives. Guidelines for financial advisers on the requirements in Notice FAA-N20, which sets out measures for the design and operation of the balanced scorecard framework and independent sales unit. EASA & FAA Agreements with Singapore Maintains Safety, Stimulates Jobs & Reduces Surveillance The Civil Aviation Authority of Singapore and European Aviation Safety Agency have signed a working arrangement that will reduce regulatory compliance cost and facilitate more business opportunities for companies in Singapore and Europe. MAS also sought comments on allowing the pledging of securities held in CDP direct accounts for collateralised trading. All rights reserved. The regulations implement statutory requirements. FAA FAR 145 International Hazardous Materials (DG) Training Date(s): *In-house training available* Register: Email to training@aais.org.sg Time: 9am – 5pm Closing Date: One week before course date. Further, Singapore-incorporated banks that are listed on the Singapore Exchange are required to adhere to the Code of Corporate Governance 2018 on a “comply-or-explain” basis. Requirements for financial advisers and their representatives when selling unlisted debentures to clients. Provides guidance to financial advisers about the FAA regime and covers topics including licensing requirements, exemptions, representative notification framework, business conduct and reporting requirements. Licensing, Authorisation and Registration Applies to: Licensed Financial Adviser, Exempt Financial Adviser, Exempt Financial Adviser … 4A Lodgment of documents and undertaking of responsibilities for representative, 7 Manner of application for financial adviser’s licence, 8A Cessation of status of appointed representative, 9 Variation of financial adviser’s licence, 10 Change in particulars and additional financial advisory service of representative, 12 Cessation of financial advisory service by financial adviser, 13 Application for appointment of chief executive officer or director, 14AA Criteria for determining if chief executive officer or director of licensed financial adviser has breached duties, 14A Financial advisers and representatives, etc., to be fit and proper persons, 18 Unsecured advances, unsecured loans and unsecured credit facilities, 20A Register of interests in listed specified products, 22D Advertisement other than product advertisement, 25 Books to be kept by licensed financial adviser, 27 Exemption from requirement to hold financial adviser’s licence for certain persons in respect of certain activities, 27A Exemption of banks and merchant banks, 28 Exemption for giving advice or analysis on bonds, 32A Exemption for persons exempt under Second Schedule to Securities and Futures (Licensing and Conduct of Business) Regulations. Therefore, the offering of FinTech products and services from entities based in foreign jurisdictions to persons in Singapore may have potential regulatory implications in Singapore on the part of the offeror. any amount on account of any liability related to the share capital of the corporation shall not be taken into account. Guidelines for financial advisers to safeguard the interest of clients when distributing life policies online without the provision of advice. Requirements for financial advisers and their representatives with respect to recommendations made on investment products. Requirements, procedures and timelines for financial advisers to report suspicious activities or incidents of fraud. U.S. Department of Transportation Federal Aviation Administration 800 Independence Avenue, SW Washington, DC 20591 (866) tell-FAA ((866) 835-5322) Guidelines on conduct requirements for financial advisers and their representatives. ... View data on Singapore’s financial sector, reserves statistics, exchange rates and others. MAS has issued prohibition orders against three former insurance agents and a former bank employee for fraudulent and dishonest conduct. The Remote ID rule mainly applies to all operators of drones that require FAA registration and weighing more than 0.55 pounds. There are three ways to … Many countries have passed drone laws and regulations similar to the FAA’s which detail best practices for flying and steps users … See also, (CHAPTER 110, Sections 6(3), 8, 9, 14, 16(2), 18, 19(1), 23, 24, 28, 32, 36(7), 39, 45, 48(1), 56, 57, 63, 94, 100 and 104), [G.N. FATCA Regulations; The FATCA Regulations 2020 implements the reciprocal FATCA Model 1 IGA, as corrected by agreement between Singapore and the US on 27 November 2019. Guidelines on the assessment criteria for exemption applications, in respect of any financial advisory service provided by a specialised unit that serves high net worth individuals. Singapore, if the requisite nexus with Singapore exists. Requirements for financial advisers when advising on dual currency investments. Singapore Airworthiness Requirements (SAR) (PDF, 642 KB) 29: 1 Nov 2018: Singapore Airworthiness Requirements (SAR) Part 21 - Certification of Products and Articles and of Design and Production Organisations (PDF, 701 KB) 9: 5 Nov 2020: Singapore Airworthiness Requirements Part 39 - Airworthiness Directives (PDF, 46 KB) 2: 8 Aug 2017 Provides guidance to financial institutions on how they should classify their products arising from the change in product definitions under the amended SFA and FAA. any book-entry Treasury Bill as defined in section 2 of the Local Treasury Bills Act (Cap. Guidelines on the standards of conduct expected of financial advisers and their representatives when advising on structured deposits. Provides guidance to financial advisers and their representatives on when they must disclose the remuneration they receive for recommending, buying or selling an investment product to clients; and how they should disclose such remuneration. (a) an individual who was an accredited investor under section 4A(1)(a)(i) of the Securities and Futures Act (Cap. Singapore in respect of any financial advisory services. (2)  For the purposes of the definition of “net asset value” in paragraph (1) —, in determining the value of the assets owned by a corporation, any amount on account of goodwill or of any other intangible assets shall be disregarded; and, in determining the amount of the liabilities of a corporation —, all contingent or prospective liabilities shall be taken into account; and. Proposed enhancements to the examination framework for appointed representatives under the SFA and FAA, e.g. Singapore law is commonly used as the governing law in cryptocurrency related contracts because of its advanced dispute resolution laws, and a reputation for being an arbitral friendly and neutral regime. Load Error any spot foreign exchange contract for the purposes of leveraged foreign exchange trading arranged by any bank that is licensed under the Banking Act or any merchant bank that is approved as a financial institution under the Monetary Authority of Singapore Act; “specified OTC derivatives contract” means an OTC derivatives contract the value of which is determined by reference to, is derived from, or varies by reference to —, the value or amount of any item other than any —, fluctuations in the values or amounts of one or more items other than any —, in the case of regulation 40F, has the meaning under that provision; and. 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