Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) (Amendment) Regulations 2017

Status:

Published in Subsidiary Legislation Supplement
on 19 Oct 2017

No. S 588

Securities and Futures Act

(CHAPTER 289)

Securities and Futures (Financial and Margin
Requirements for Holders of Capital Markets
Services Licences) (Amendment) Regulations 2017

In exercise of the powers conferred by section 100(1) of the Securities and Futures Act, the Monetary Authority of Singapore makes the following Regulations:

Citation and commencement

1. These Regulations are the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) (Amendment) Regulations 2017 and come into operation on 20 October 2017.

Amendment of regulation 2

2. Regulation 2(1) of the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations (Rg 13) (called in these Regulations the principal Regulations) is amended by deleting the full‑stop at the end of the definition of “total risk requirement” and substituting a semi‑colon, and by inserting immediately thereafter the following definitions:

“ “venture capital fund” has the same meaning as in regulation 14(8) of the Securities and Futures (Licensing and Conduct of Business) Regulations (Rg 10);

“venture capital fund manager” means a holder of a licence for fund management who does not carry on business in any regulated activity other than the management of portfolios of securities on behalf of venture capital funds.”.

Deletion and substitution of regulation 5

3. Regulation 5 of the principal Regulations is deleted and the following regulation substituted therefor:

“Holder of licence

5. In this Part, a reference to the holder of a licence excludes —

(a)	a holder of a licence who only holds a licence to provide credit rating services; and
(b)	a holder of a licence who is a venture capital fund manager.”.

Amendment of First Schedule

4. The First Schedule to the principal Regulations is amended by deleting the word “or” at the end of paragraph (b) of item (5) in the table, and by inserting immediately thereafter the following paragraph:

“(ba)

solely as a venture capital fund manager; or

0”.

[G.N. Nos. S 372/2005; S 78/2006; S 507/2006; S 677/2006; S 445/2007; S 101/2008; S 375/2008; S 77/2009; S 714/2010; S 19/2012; S 384/2012; S 192/2013; S 463/2013; S 395/2015; S 522/2016]

Made on 17 October 2017.

RAVI MENON

Managing Director,
Monetary Authority of Singapore.

[CMI 03/2017; AG/LEGIS/SL/289/2015/2 Vol. 1]

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