Application for a Capital Markets Services Licence

Please verify that the applicant meets all applicable admission criteria as outlined in the MAS Guidelines, or is prepared to meet them within the 3-month timeframe specified by the Authority.

Regulated Activity	Applicable MAS Guideline
Real Estate Investment Trust Management	Guidelines to all holders of a Capital Markets Services Licence for Real Estate Investment Trust Management (SFA 04-G07)
All other regulated activities	Guidelines on Criteria for the Grant of a Capital Markets Services Licence Other than for Fund Management and Real Estate Investment Trust Management (SFA 04-G01)
	Guidelines on Licensing, Registration and Conduct of Business for Fund Management Companies [SFA 04-G05]

Application Checklist

1. Submission of Form 3A for each representative.

2. Submission of Form 11 for each director/CEO.

3. Scanned copies of the audited financial statements (including auditor's opinion) of the applicant for the past 3 years, where applicable. Where the applicant has yet to undergo an independent audit, attach the unaudited financial statements.

4. Shareholding chart of the applicant including all controlling interests.

5. Organisational chart of the applicant including the compliance function.

Application Fee

A non-refundable application fee, as prescribed by regulation 6 of the Regulations, must be paid to the Authority.

Application for a Capital Markets Services Licence

Section 1: Application for a Capital Markets Services Licence

What type of regulated activity(s) does the applicant intend to carry out?

• Dealing in Capital Markets Products

• Securities

  • Shares

  • Debentures

  • Units in a business trust

• Units in a Collective Investment Scheme

• Exchange-traded Derivatives Contracts

  • Specified commodity futures contracts

  • Securities-based exchange-traded derivatives contracts which are not futures contracts

• Over-the-counter Derivatives Contracts

  • Contract for differences (CFD)

  • Options

  • Forward contracts

• Identify the underlying things of the OTCD

  • Shares

  • Debentures

  • Business Trust

  • FX traded on margin

  • Interest rate

  • Credit

  • Commodity

  • Collective Investment Scheme (CIS)

  • FX not traded on margin

• Spot Foreign Exchange Contracts for the Purposes of Leveraged Foreign Exchange Trading

• Advising on Corporate Finance

  
  

• Fund Management

  • Venture capital fund management under the Venture Capital Fund Management (VCFM) Regime

  • Licensed Fund Management Company (LFMC)

  
  

• Real Estate Investment Trust Management

  
  

• Providing Credit Rating Services

  
  

• Providing Custodial Services

  
  

• Product Financing

“Specified commodity futures contracts" are defined in the First Schedule of the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations as futures contracts in respect of one or more of the following commodities: (a) gold; (b) any produce, item, goods or article, including an index, right or interest in any produce, item goods or article.

Applicable ONLY when Licensed Fund Management Company (LFMC) + other regulated activity(s) is selected.

What is the applicant’s main business activity ?

When determining the main business activity, applicants should consider the anticipated revenue generated and the resources, such as the number of representatives, dedicated to each regulated activity.

3. Briefly describe the motivations for seeking a licence to carry out the specified regulated activity(s) in Singapore.

Section 3: Information on the Applicant

3.1 Provide the following basic corporate information on the applicant.

Entity type

For applicant whose activity(s) include VCFM or Licensed Fund Management Company, select Singapore-incorporated company option.

Singapore-incorporated company

Singapore branch of a foreign company

Please explain why the applicant is set up as a branch.

Does the applicant's principal place of business meet the following requirements:

i) fully segregated and designated for the applicant’s permanent use;

ii) locked and used to securely hold applicant’s books and records; and

iii) ordinarily accessible only to individuals who are the directors, staff and shareholders of the applicant.

No. Please confirm that the applicant will move into a principal space of business that meets the above requirements upon receiving in-priniciple approval of its application, prior to the grant of the CMS licence. The applicant may be required to provide supporting documents such as the lease agreement.

Is/will the office unit number shared with another entity? Yes. Please elaborate Please elaborate on the arrangement (e.g. co-working office) and how the office space meets the above requirements.

Section 4: Financial Information

What is the base capital requirement applicable to the applicant based on its self-assessment ?

$0

$50,000

$250,000

$500,000

$1,000,000

$5,000,000

Refer to the First Schedule of the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations for the applicable base capital requirement. Where the applicant is applying to conduct more than one regulated activity, the base capital requirement should be the highest of the applicable base capital requirements for the relevant regulated activities.

A Venture Capital Fund Manager is required to have a minimum base capital of $0, pursuant to regulation 4(1)(a) of the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licenses) Regulation SF(FMR)R and as stated in the First Schedule to the SF(FMR)R.

Please provide assurance that the applicant will adhere to all applicable base capital requirements at all times subsequent to the issuance of a CMS license by the Authority.

Provide the applicant’s financial statements for the last 3 years, where applicable.

Where losses have been incurred or where there has been negative equity, in any of the last 3 years, please state if the losses incurred have an impact on the applicant s ability to sustain operations.

Losses incurred/negative equity have no impact to the applicant’s ability to sustain operations. Proceed to question 4.3.1

Losses incurred/negative equity have an impact to the applicant’s ability to sustain operations. Proceed to question 4.3.2

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