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Issuer : Monetary Authority of Singapore (MAS)Act : Securities and Futures Act 2001 (SFA)Last revised : 13 November 2025Document type : Compliance Toolkit
Overview
This toolkit provides guidance on applications for approvals, notifications to be submitted, and other regulatory submissions (e.g. financial returns) to MAS under the SFA. It covers common submissions and excludes those imposed bilaterally on specific FIs.
Applicability
(a) CMS Licensees for the following regulated activities:
Dealing in capital markets products
Advising on corporate finance
Product financing
Providing custodial services
Providing credit rating services
(b) Entities exempted from holding a CMS licence:
Exempt CMS entities (banks, merchant banks, finance companies, insurers)
Exempt futures brokers
Exempt OTC derivatives brokers
Exempt corporate finance advisers
Key Legislative Instruments
Securities and Futures Act 2001 (SFA) -- Parts IV, V, IX
Securities and Futures (Licensing and Conduct of Business) Regulations (LCBR)
Securities and Futures (Financial and Margin Requirements for Holders of CMS Licences) Regulations (FMR)
SF(ECBA)(FRC)R -- Cross-Border Arrangements (Foreign Related Corporations) 2021
SF(ECBA)(FO)R -- Cross-Border Arrangements (Foreign Offices) 2021
SFA04-N17 -- Requirements re Cross-Border Arrangements under SF(ECBA)(FRC)R
SFA04-N18 -- Requirements re Cross-Border Arrangements under SF(ECBA)(FO)R
Standard corporate licence conditions on CMS Licensees
Mode of Submission
Refer to the relevant form on the MAS website for submission instructions
Submissions via FormSG and MAS-Tx : do not encrypt uploaded attachments
Financial returns: submit via CoRe (MAS-Tx) or MAS-Tx
FIs may log in to MAS-Tx for due dates, email reminders, and copies of submissions
Section A: CMS Licensees
A1: Applications for Approvals from MAS
S/N
Requirement
Form
Deadline
Reference
1
Application for CMS licence
Form 1
Prior to carrying on regulated activity
Section 84(1) SFA
2
Application for additional regulated activities
Form 5
Prior to carrying on additional activity
Section 90(1) SFA, Reg 11A LCBR
3
Application for additional capital markets products dealing
Form 5
Prior to dealing
Licence condition
4
Appointment of CEO or director
Form 11
Prior to appointment
Section 96(1) SFA, Reg 12 LCBR
5
Obtaining effective control of CMS Licensee
Application form
Prior to obtaining effective control
Section 97A(2) SFA
6
Change of shareholders (20%+ control)
No prescribed form
Prior to change
Licence condition
7
Acquire 20%+ interest in corporation / establish branch
No prescribed form
Prior to acquisition/establishment
Licence condition
8
Comply with different base capital requirement
No prescribed form
Prior to commencing/ceasing/changing business
Reg 4(1A) FMR
9
Reduce paid-up share capital
No prescribed form
Prior to reduction
Reg 20 FMR
10
Make unsecured loan / pay dividend / increase director fees under prescribed circumstances
No prescribed form
Prior to the action
Reg 23 FMR
11
Disclose inspection reports to non-auditor
No prescribed form
Prior to disclosure
Sections 150A(2)(c), 150C(2)(d) SFA
12
Disclose investigation reports (MAS investigation)
No prescribed form
Prior to disclosure
Section 152A(2) SFA
A2: Notifications to MAS
S/N
Requirement
Form
Deadline
Reference
13
Cessation of business
Form 7
(a) Immediately after 6-month period; (b) Within 14 days of cessation
Section 93(1) SFA, Reg 11 LCBR
14
Change of name / principal place of business
Form 10
Within 14 days from date of change
Section 93(1)(b) SFA
15
Material adverse change to financial position (insolvency, inability to meet obligations, suspended payments)
No prescribed form
Immediate
Section 97C(1) SFA
16
Change in shareholders (<20% control)
No prescribed form
Immediate
Licence condition
17
Execution of agreement for purchase/sale/merger of business
No prescribed form
7 days prior to execution
Licence condition
18
Resignation of CEO / director; change in director appointment nature / residence / business interests
No prescribed form
Immediate
Licence condition
19
Fitness & propriety concerns (officers/reps committed offences, subject to disciplinary action, breach of laws)
No prescribed form
Immediate
Licence condition
20-26
Financial and margin notifications (base capital breach, total risk requirement breach, aggregate indebtedness, preference shares, subordinated loans, under-margined accounts)
No prescribed form
Immediate
Various FMR Regulations
27
Cross-border arrangements commencement
Form FN
Within 14 days of commencement
Regs 4(2), 5(1) SF(ECBA)(FRC)R
28
Changes to cross-border arrangements
Form FC
Within 14 days from date of change
SFA04-N17, SFA04-N18
A3: Regulatory Submissions to MAS
S/N
Requirement
Form
Deadline
Submission Mode
29
Statement of assets and liabilities (quarterly and annual)
Form 1
Quarterly: 14 days from quarter end; Annual: 5 months from FY end
CoRe (MAS-Tx)
30
Financial resources, total risk, aggregate indebtedness (quarterly and annual)
Form 2
Same as above
CoRe (MAS-Tx)
31
Base capital information (credit rating services)
No prescribed form
Within 14 days from quarter end
MAS-Tx
32
Profit and loss statement
Form 3
Within 5 months from FY end
CoRe (MAS-Tx)
33
Supplementary financial information
Form 4
Within 5 months from FY end
CoRe (MAS-Tx)
34
Auditor's report on internal controls
Form 5
Within 5 months from FY end
MAS-Tx
35
Auditor's certification on financial statements
Form 6
Within 5 months from FY end
MAS-Tx
36-38
Margin exposures (approved exchanges, customers, margined products)
Forms 7-9
Within 14 days from quarter end
CoRe (MAS-Tx)
39
Cross-border arrangements annual declaration
Form FR
Within 5 months from FY end
MAS-Tx
Section B: Exempt CMS Entities
Applies to banks, merchant banks, finance companies, and insurers conducting regulated activities under the SFA (exempt from CMS licence under section 99(1)(a), (b), (c) and (d)).
Key requirements include:
Approvals : Disclosure of inspection/investigation reports (S/N 40-41)Notifications : Commencement of business (Form 26), change of particulars (Form 27), cessation (Form 29), cross-border arrangements (Forms FN/FC), financial and margin notificationsRegulatory submissions : Business unit information (Form 28), cross-border annual declaration (Form FR), compliance confirmation
Section C: Exempt Futures Brokers and Exempt OTC Derivatives Brokers
Key requirements include:
Approvals : Disclosure of inspection/investigation reports (S/N 49-50)Notifications : Commencement of business (Form 30), change of particulars (Form 31), cessation (Form 32), breach of licence exemption conditions, cross-border arrangements (Forms FN/FC)Regulatory submissions : Annual compliance declaration (Form 33), auditor's reports (Form 34), profit and loss statement, cross-border annual declaration (Form FR)
Section D: Exempt Corporate Finance Advisers
Key requirements include:
Approvals : Disclosure of inspection/investigation reports (S/N 61-62)Notifications : Commencement of business (Form 22), change of particulars (Form 23), cessation (Form 24)Regulatory submissions : Annual compliance declaration (Form 25)
Section E: Representative Notifications (All CMS Licensees and Exempt CMS Entities)
S/N
Requirement
Form
Deadline
67
Appointment of appointed representative
Form 3A
Prior to appointment
68
Appointment of provisional representative
Form 3B
Prior to appointment
69
Appointment of temporary representative
Form 3C
Prior to appointment
70
Completion of examination requirements (provisional rep)
Form 3D
Prior to expiry of specified period
71
Cessation of representative
Form 8
(a) Immediately after 6-month period; (b) Immediately after 1 month of cessation; (c) Next business day after cessation
72
Change of representative's particulars
Form 16
Within 14 days of change
73
Addition of regulated activities for appointed rep
Form 6
Prior to carrying out additional activity
74
Addition of capital markets products type for appointed rep
Form 6
Prior to dealing in additional type
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