PART I | 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. |
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; |
“excluded currency contract” means —| (a) | a forward contract for the sale or purchase of a currency (referred to in this definition as target currency) using another currency (referred to in this definition as the consideration currency) which is intended to be settled by the actual delivery of the target currency and consideration currency —| (i) | in a case where the target currency and the consideration currency are specified in the Sixth Schedule, within 2 business days after the date of the execution of the forward contract; or | | (ii) | in a case where either the target currency or the consideration currency is not, or both the target currency and the consideration currency are not, specified in the Sixth Schedule, by the earlier of the following:| (A) | the last day of the customary spot settlement period for the target currency or for the consideration currency, whichever is the later; | | (B) | the seventh business day after the date of the execution of the forward contract; or |
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| | (b) | a forward contract for the sale or purchase of a currency —| (i) | which is entered into for the purpose of settling a sale or purchase of securities denominated in that currency; and | | (ii) | which is intended to be settled by the actual delivery of the currency, by the earlier of the following:| (A) | the last day of the customary settlement period for the securities referred to in sub‑paragraph (i); | | (B) | the seventh business day after the date of the execution of the forward contract; [S 727/2014 wef 01/11/2014] |
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“foreign exchange derivatives contract” means a derivatives contract which —| (a) | relates to one or more currencies or currency indices; or | | (b) | involves one or more cash flows which are determined by reference to one or more currencies or currency indices, |
| but does not include an excluded currency contract; |
[S 727/2014 wef 01/11/2014] |
| “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 any information referred to in regulation 7 on a specified derivatives contract in accordance with that regulation; [S 727/2014 wef 01/11/2014] |
| “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 trader —| (a) | whose place of employment is located in Singapore and who conducts, on behalf of a specified person, activities relating to the execution of derivatives contracts in Singapore; or | | (b) | who —| (i) | for a period of not less than 30 days immediately before the date of the execution of the derivatives contract, conducts or is authorised to conduct, on behalf of a specified person, activities relating to the execution of derivatives contracts in Singapore; and | | (ii) | is physically in Singapore at the time of the execution of the derivatives contract. [S 727/2014 wef 01/11/2014] |
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| (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. |
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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. |
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| 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. |
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