This calendar provides a comprehensive schedule of recurring regulatory obligations, deadlines, and best-practice activities for financial institutions managing appointed representatives under MAS regulations. It covers Continuing Professional Development (CPD), annual fees, Fit and Proper reviews, regulatory filings, and compliance reporting.
Important Note: Specific dates and deadlines may vary based on the FI's licence type, fiscal year, and individual agreements with MAS. Always verify current requirements against the latest MAS circulars and notices.
Update the internal register with any new appointments, cessations, or changes
Compliance
Complaint review
Review customer complaints involving representatives for Fit and Proper implications
Compliance
Transaction monitoring review
Review exception reports from transaction monitoring for representative-related flags
Compliance + Risk
CPD tracking update
Update CPD records with completed training hours for all representatives
HR + Compliance
MAS RNS monitoring
Check MAS Representative Notification System for any pending queries or notifications
Compliance
Cessation deadline tracking
Ensure any cessation notifications are submitted by the next business day after the representative's last day, per MAS Form 8 (SFA reps) / Form 10 (FA reps) — see https://www.mas.gov.sg/regulation/forms-and-templates/form-8---notification-for-the-cessation-of-a-representative-in-any-or-all-of-the-regulated-activities. The 7-business-day advance-notice rule applies only to cessation while a rep is under investigation (SFA 04-N11 ¶7).
Develop CPD training calendar for the year; identify mandatory courses and approved providers
31 January
January
Previous year CPD audit
Verify that all representatives met minimum 30 CPD hours (≥6h Core CPD [ethics/rules, IBF/SCI-accredited] + ≥24h Supplementary CPD) for the preceding calendar year, per FAA-N26 §5.4 / SFA 04-N22 Part 8
31 January
January
CPD shortfall remediation
Identify representatives who did not meet CPD requirements and establish catch-up plans
15 February
February
Annual Fit and Proper review cycle launch
Begin the annual Fit and Proper review cycle for all representatives
1 February
February
Credit bureau checks
Conduct annual credit bureau checks for all representatives (batch processing)
28 February
March
Q1 compliance reporting
Prepare quarterly compliance report on representative management for Board/Risk Committee
All representatives must have completed minimum 30 CPD hours (≥6h Core CPD [ethics/rules, IBF/SCI-accredited] + ≥24h Supplementary CPD) by this date, per FAA-N26 §5.4 / SFA 04-N22 Part 8
31 January (following year)
CPD audit
FI must complete verification of CPD compliance for all representatives
28 February (following year)
Shortfall remediation plan
Representatives who failed to meet CPD requirements must have a documented remediation plan
30 June (following year)
Shortfall completion
All CPD shortfalls from the previous year should be fully remediated by mid-year
Before the representative begins regulated activities
Form 3B submission (provisional)
Overseas staff relocating to Singapore
Before the representative begins regulated activities
Form 3C submission (temporary)
Overseas staff on short-term assignment
Before the representative begins regulated activities
Cessation notification
Representative departing or changing to non-representative role
By the next business day after last day (per MAS Form 8 / Form 10). 7-business-day advance-notice deadline applies only to cessation while under investigation per SFA 04-N11 ¶7.
Change of activities notification
Representative's scope of regulated activities changes
Before the representative begins the new activities
Change of particulars
Name change, NRIC change, etc.
Within 14 days of the change
Annual Fit and Proper declaration
Annual review cycle
As per FI's internal schedule (recommended: complete by 31 July annually)