FTT Securities & Futures Regulations

Question 1

Which Act is the primary legislation governing the securities and futures industry in Singapore?

Accepted Answer

Securities and Futures Act (SFA)

Answer

Financial Advisers Act (FAA)

Answer

Companies Act

Answer

Monetary Authority of Singapore Act

Question 2

Which regulatory body oversees the securities and futures markets in Singapore?

Accepted Answer

Monetary Authority of Singapore (MAS)

Answer

Singapore Exchange (SGX)

Answer

Commercial Affairs Department (CAD)

Answer

Accounting and Corporate Regulatory Authority (ACRA)

Question 3

Under the SFA, carrying on a regulated activity without a Capital Markets Services licence is punishable by:

Accepted Answer

A fine not exceeding $150,000 and/or imprisonment not exceeding 3 years

Answer

A fine of $50,000 only

Answer

Only a warning from MAS

Answer

Suspension of business for 6 months

Question 4

What is the minimum base capital requirement for a CMS licence holder dealing in securities?

Accepted Answer

S$1 million

Answer

S$500,000

Answer

S$250,000

Answer

S$2 million

Question 5

Which of the following is NOT a regulated activity under the Second Schedule of the SFA?

Accepted Answer

Providing accounting services

Answer

Dealing in capital markets products

Answer

Advising on corporate finance

Answer

Fund management

Question 6

A Capital Markets Services Representative must be appointed by:

Accepted Answer

A holder of a Capital Markets Services licence

Answer

The Monetary Authority of Singapore directly

Answer

The Singapore Exchange

Answer

Any registered company