Financial Advisers Act 2001 |
Financial Advisers (Exemption for Cross‑Border Arrangements) (Foreign Offices) (Amendment No. 2) Regulations 2023 |
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Citation and commencement |
1. These Regulations are the Financial Advisers (Exemption for Cross‑Border Arrangements) (Foreign Offices) (Amendment No. 2) Regulations 2023 and come into operation on 9 October 2023. |
Amendment of regulation 2 |
2. In the Financial Advisers (Exemption for Cross‑Border Arrangements) (Foreign Offices) Regulations 2021 (G.N. No. S 763/2021) (called in these Regulations the principal Regulations), in regulation 2(1), delete the definition of “accredited investor”. |
Amendment of regulation 8 |
3. In the principal Regulations, in regulation 8(3), before the definition of “foreign office”, insert —
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Saving provision for accredited investor with respect to licensed financial adviser |
Saving provision for accredited investor with respect to specified exempt financial adviser |
5.—(1) A person (called in this regulation customer D) who was an accredited investor with respect to a specified exempt financial adviser (E) for the purposes of regulation 8(1)(d)(i) of the principal Regulations immediately before 9 October 2023 continues (despite regulations 2 and 3) to be an accredited investor with respect to E under that regulation on or after that date, if —
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Managing Director, Monetary Authority of Singapore. |
[CMI 12/2023; AG/LEGIS/SL/110/2020/6 Vol. 2] |