Securities and Futures (Licensing and Conduct of Business) Regulations
Table of Contents
Part I PRELIMINARY
1 Citation
2 Definitions
Part II LICENSING, REPRESENTATIVE NOTIFICATION AND RELATED MATTERS
3 Forms
3A Lodgment of documents and undertaking of responsibilities for representative
3B Provisional representative
3C Temporary representative
3D (Deleted)
4 Register of interests in listed specified products
4A Place at which register is kept
5 Change of particulars and additional regulated activity of representative
6 Fees
6A (Deleted)
7 Deposit to be lodged in respect of capital markets services licence to deal in capital markets products that are specified products
8 Return of deposit
9 Lapsing of capital markets services licence
9A Cessation of status of appointed representative
11 Cessation of business by holder
11A Variation of capital markets services licence
11B Lodgment of particulars of cessation
12 Application for appointment of chief executive officer and director
13 Duties of holder of capital markets services licence
13A Criteria for determining if chief executive officer or director of holder of capital markets services licence has breached duties
13B Duties of holder of capital markets services licence for regulated activity of fund management
13C Criteria for determining if chief executive officer or director of holder of capital markets services licence for fund management has breached duties
13D Composition of board of holder of capital markets services licence for real estate investment trust management
13E Disclosure of director’s independence in annual reports of REIT
13F Independence from management of holder and REIT managed or operated by holder
13G Independence from business relationship with holder and REIT managed or operated by holder
13H Independence from substantial shareholder of holder and substantial unitholder of REIT
14 Exemptions
14A Holders of capital markets services licences and representatives, etc., to be fit and proper persons
Part III CUSTOMER’S MONEYS AND ASSETS
Division 1 — Definitions
15 Definitions of this Part
Division 2 — Customer’s Moneys
16 Money received on account of customer
17 Maintenance of trust account with specified financial institutions
18 Notification and acknowledgment from specified financial institutions
18A Disclosure to customers in relation to moneys received on account of customers
19 Customer’s money deposited with approved clearing house, etc.
20 Investment of moneys received on account of customers
20A Moneys received from retail customer
21 Withdrawal of money from trust account
22 Interest arising from trust account, etc.
23 Placement of licensee’s own money in trust account
24 No effect on lawful claims or liens
Division 3 — Customer’s Assets
25 Application of this Division
26 Duties of holder on receipt of customer’s assets
27 Maintenance of custody account with specified custodians
27A Disclosure to customers in relation to assets received on account of customers
28 Notification and acknowledgment from specified custodians
29 Suitability of custodian
30 Customer’s assets held with approved clearing house, etc.
31 Customer agreement
32 Custody agreement
33 Lending of customer’s specified products
34 Mortgage of customer’s assets
34A Assets received from retail customer
35 Withdrawal of customer’s assets
36 No effect on lawful claims or liens
Division 4 — Miscellaneous
37 Computation for trust accounts and custody accounts
38 Customer’s moneys and assets held by approved clearing house or recognised clearing house
Part IV CONDUCT OF BUSINESS
39 Books of holder of capital markets services licence
40 Provision of statement of account to customers
41 Documentation required by Authority, approved exchange or approved clearing house
42 Contract notes
43 Limits for unsecured credit and credit facilities
44 Priority of customers’ orders
45 Specified products borrowing and lending
46 Product advertisements
46AA Approval of product advertisement
46AB Exemption from regulation 46(1)
46AC Maintaining records of approval
46AD Advertisement other than product advertisement
46A Certain representations prohibited
47 Trading standards
47A Disclosure of certain interests in respect of underwriting agreement
47B Dealing in securities as principal
47BA No dealing as agent
47C Trading against customer
47D Cross-trading
47DA General risk disclosure requirements
47E Risk disclosure by certain persons
Part V DEALING IN GOVERNMENT SECURITIES
48 Compliance with Rules and Market Practices
Part VI MISCELLANEOUS
49 (Deleted)
50 (Deleted)
50A (Deleted)
51 Position limit
52 Non-applicability of section 339 (2) of Act under certain circumstances
53 (Deleted)
54 Banks, merchant banks and finance companies
54A (Deleted)
54B Exempt persons dealing in non-centrally cleared derivatives contracts on behalf of accredited investors, expert investors or institutional investors
55 Offences
Part VII EXEMPTIONS
56 Definitions of this Part
57 Exemption from section 82(1) of Act for corporations previously carrying on business in dealing in specified OTC derivatives contracts
58 Exemptions from Act for persons previously holding financial adviser’s licence for marketing of any collective investment scheme and their representatives
59 Exemption from Act for persons previously acting as representatives
60 Exemptions for exempt persons previously carrying on business in dealing in specified contracts
61 Exemptions for holders of capital markets services licence in respect of business in dealing in capital markets products that are specified OTC derivatives contracts, and representatives of such holders
62 Exemption for holders of capital markets services licence, and representatives of such holders in respect of regulated activity other than dealing in capital markets products that are specified OTC derivatives contracts
63 Exemption for exempt persons under section 99(1)(a) or (b) of Act in respect of regulated activity other than dealing in capital markets products that are specified contracts
64 Exemption for exempt persons under section 99(1)(c) of Act in respect of regulated activity other than dealing in capital markets products that are specified OTC derivatives contracts
65 (Deleted)
Legislative History