Financial Advisers (Amendment) Regulations 2007

Status:

Published in Subsidiary Legislation Supplement
on 15 Feb 2007

No. S 58

Financial Advisers Act

(Chapter 110)

Financial Advisers (Amendment) Regulations 2007

In exercise of the powers conferred by sections 45 and 104 of the Financial Advisers Act, the Monetary Authority of Singapore hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Financial Advisers (Amendment) Regulations 2007 and shall come into operation on 1st March 2007.

Amendment of regulation 26

2. Regulation 26(1) of the Financial Advisers Regulations (Rg 2) is amended by deleting the words “6 years” and substituting the words “5 years”.

Transitional provision

3.—(1) The amendment to the record-keeping period made by regulation 2 shall apply in relation to any statement of accounts, book or record required to be retained under regulation 26(1) of the Financial Advisers Regulations, whether the obligation to retain such statement of accounts, book or record first arises before, on or after 1st March 2007.

(2) Paragraph (1) shall not apply in relation to any statement of accounts, book or record if the period for which it is to be retained under regulation 26(1) of the Financial Advisers Regulations in force immediately before 1st March 2007 has expired by that date.

[G.N. Nos. S 76/2004; S 692/2004; S 362/2005]

Made this 5th day of February 2007.

HENG SWEE KEAT

Managing Director,
Monetary Authority of Singapore.

[MCD FAII 07/2002; AG/LEG/SL/110/2002/1 Vol. 3]

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