[PDF] FINANCIAL ADVISERS ACT (CAP. 110)





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Monetary Authority of Singapore

FINANCIAL ADVISERS ACT

(CAP. 110)

NOTICE ON MINIMUM ENTRY AND EXAMINATION

REQUIREMENTS FOR REPRESENTATIVES OF LICENSED

FINANCIAL ADVISERS AND EXEMPT FINANCIAL ADVISERS

Notice No : FAA-N13

Issue Date : 26 November 2010 [Last revised on 10 June 2014*]

NOTICE ON MINIMUM ENTRY AND EXAMINATION

REQUIREMENTS FOR REPRESENTATIVES OF LICENSED

FINANCIAL ADVISERS AND EXEMPT FINANCIAL ADVISERS

1 This Notice is issued pursuant to section 58 of the Financial

The earlier notice (FAA-N07)

issued on 16 January 2004 and last amended on 31 December 2007) on the same subject is cancelled.

2 This Notice shall apply to all licensed financial advisers, persons

23(1)(a), (b), (c), (d), or (e) of the Act, and their appointed

representatives.

3 This Notice shall not apply to

(a) persons specified in regulation 4 of the Financial Advisers (Structured Deposits Prescribed Investment Products and Exemption) Regulations in relation to the provision of any financial advisory service relating to any structured deposit as defined in those Regulations; and [FAA-N13 (Amendment No. 2) 2013] (b) persons specified in regulation 3 of the Financial Advisers (Exemption from Section 25 to 29 and 36) Regulations in respect of the provision of any financial advisory service relating to the investment products referred to in regulation 3 of those Regulations. [FAA-N13 (Amendment No. 2) 2013]

4 This Notice sets out the following:

(a) minimum entry requirements for appointed representatives; 2 Notice on Minimum Entry and Examination Requirements for Licensed

Financial Advisers and Exempt Financial Advisers

(b) application of the Capital Markets and Financial Advisory persons intending to provide financial advisory services as appointed representatives under the Act; (c) circumstances under which the CMFAS Exam requirements do not apply; (d) obligations of licensed financial advisers and exempt financial advisers; and (e) continuing education requirements for appointed representatives.

DEFINITIONS

5 For the purposes of this Notice:

Schedule to the Insurance Act (Cap. 142);

[FAA-N13 (Amendment No. 2) 2013]

2(1) of the

the relevant modules of the CMFAS Exam; immediately before 27 February 2008;

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