The financial services industry in Singapore is regulated by the Monetary Authority of Singapore (MAS), which operates under a legal framework governed by the Securities and Futures Act and the Financial Advisers Act.
The MAS provides for a single licensing regime. This means an intermediary needs to only hold a single license, either a Capital Markets Services or Financial Advisers License (MAS Licenses), in order to conduct one or more financial services regulated activities.
Duff & Phelps’ team has a deep understanding of the rules, guidelines and processes involved in obtaining an MAS license. We provide assistance from the initial corporate structuring stage through to the grant of a license to engage in regulated activities, as defined under the Securities and Futures Act.
Our comprehensive licensing service offers full project management, thereby allowing clients' internal resources to focus on other business priorities.
We assist financial institutions and individuals by:
- Advising on the relevant license
- Assisting with the completion and review of all necessary MAS license application forms (for trust companies, banks, insurers, exchanges)
- Supporting the preparation of all compliance and application documentation, including documented procedures needed to meet regulatory compliance and risk management obligations
- Advising on regulatory capital requirements
- Liaising with the MAS on the application and responding in a timely manner
Our team works closely with third party advisors and service providers throughout the process to ensure a seamless delivery of service.