Business Conduct Requirements for Representatives
According to MAS (Consultations),
last revised on 04 September 2020
1.1 Currently, appointed representatives under the Financial Advisers Act (“FAA”) and the Securities and Futures Act (“SFA”) are required to meet minimum academic qualifications, pass relevant modules of the Capital Markets and Financial Advisory Services Examinations (“CMFAS Examination”), and fulfil Continuing Professional Development (“CPD”) requirements, depending on the regulated activities they undertake. These requirements are set out under FAA-N13 Notice on Minimum Entry and Examination Requirements for Representatives of Licensed Financial Advisers and Exempt Financial Advisers (the “FAA Notice”) and SFA 04-N09 Notice on Minimum Entry and Examination Requirements for Representatives of Holders of Capital Markets Services Licence and Exempt Financial Institutions (the “SFA Notice”).