Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013

No. S 668

Securities and Futures Act

(CHAPTER 289)

Securities and Futures
(Reporting of Derivatives Contracts)
Regulations 2013

In exercise of the powers conferred by sections 129, 129A, 337(1) and 341 of the Securities and Futures Act, the Monetary Authority of Singapore hereby makes the following Regulations:

PART I

PRELIMINARY

Citation and commencement

1. These Regulations may be cited as the Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013 and shall come into operation on 31st October 2013.

Definitions

2.—(1) In these Regulations, unless the context otherwise requires —

“booked in Singapore”, in relation to a derivatives contract, means the entry of the derivatives contract on the balance sheet or the profit and loss accounts of a person whose place of business is in Singapore;

“business day” means any day other than a Saturday, Sunday or public holiday;

“credit derivatives contract” means a derivatives contract related to a credit instrument or credit‑linked instrument, or the cash flows of which are determined by reference to an underlying bond, an underlying loan or any other underlying credit agreement;

“interest rate derivatives contract” means a derivatives contract related to an interest‑bearing financial instrument, or the cash flows of which are determined by reference to interest rates or another interest rate contract (such as an option on an interest rate futures contract);

“maturity”, in relation to a derivatives contract, means the period remaining until the termination of the derivatives contract;

“place of business”, in relation to a party to a specified derivatives contract, means a head or main office, a branch, a representative office or any other office of the party;

“reporting commencement date” means the date from which a specified person must commence reporting, under section 125 of the Act —

(a)	any information referred to in regulation 7 on a specified derivatives contract; and
(b)	any amendment, modification, variation or change to the information referred to in paragraph (a);

“reporting threshold amount” means $8 billion;

“resident in Singapore” has the same meaning as in section 2 of the Income Tax Act (Cap. 134);

“significant derivatives holder” means a person who is a significant derivatives holder by virtue of regulation 6;

“traded in Singapore”, in relation to a derivatives contract, means the execution of the derivatives contract by a trading desk or trader that is physically located in Singapore.

(2) Any word or expression used in these Regulations which is defined in section 124 of the Act shall, unless the context otherwise requires, have the same meaning as in that section.

Forms

3.—(1) The forms to be used for the purposes of Part VIA of the Act and these Regulations are those set out at the Authority’s Internet website at http://www.mas.gov.sg (under “Regulations and Financial Stability”, “Regulations, Guidance and Licensing”, “Securities, Futures and Fund Management”), and any reference in these Regulations to a numbered form shall be construed as a reference to the current version of the form bearing the corresponding number which is displayed at that website.

(2) Any document required to be lodged with the Authority under any provision of Part VIA of the Act or these Regulations shall be lodged in the relevant form specified in the website referred to in paragraph (1), and in such manner as the Authority may specify from time to time.

(3) All forms used for the purposes of Part VIA of the Act and these Regulations shall be completed in the English language and in accordance with such directions as may be specified in the form or by the Authority.

(4) The Authority may refuse to accept any form if it is not completed in accordance with this regulation.

(5) Where strict compliance with any form is not possible, the Authority may allow for the necessary modifications to be made to that form, or for the requirements of that form to be complied with in such other manner as the Authority thinks fit.

Keeping of books and other information

4. Every specified person shall ensure that all relevant books, and all transaction information and other information as may be required by the Authority for the purposes of the Act, are kept —

(a)	in the case of any relevant book, until at least 5 years after the last date of the expiry or termination of a contract, an agreement or a transaction to which the book relates; or
(b)	in the case of any transaction information or other information, until at least 5 years after the date of the expiry or termination of the contract, agreement or transaction to which the information relates.

Made this 22nd day of October 2013.

RAVI MENON

Managing Director,
Monetary Authority of Singapore.

[ED-S012/2013; AG/LLRD/SL/289/2010/28 Vol. 2]

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