Wednesday, October 12, 2016

MAS Notice FAA-N13 Amendment Notice September 2016

The Monetary Authority of Singapore (“MAS”) has issued amended notice on Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Financial Advisers and Exempt Financial Advisers. The several key changes to the Guidelines in the revision are:

  • Provide further clarification on when CMFAS Module 5 on rules and regulations must be retaken; and
  • Provide exemptions from Continuing Professional Development ("CPF") training requirements to :
    1. An appointed representative who only provides execution-related advice and the financial advisory service of marketing of any collective investment scheme, and
    2. An appointed representative who only provide the financial advisory service of marketing of any collective investment scheme.
For more information, please read our regulatory update here.

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