Glossary · regulatory
Securities and Futures Act
Also known as: SFA
- Definition
- The Securities and Futures Act (SFA) is the Singapore statute governing securities, derivatives, fund management, and capital-markets infrastructure. It is the regulatory foundation for CMSL and RFMC firms.
The SFA defines regulated activities (dealing in securities, fund management, advising on corporate finance, custodial services, providing credit-rating services, etc.), specifies who must be licensed, and frames the MAS supervisory powers over capital-markets activity. It is the statute under which Capital Markets Services Licences are issued. The SFA is amended periodically — the most recent material amendments introduced the VCC framework (Variable Capital Companies Act 2018) and the Securities and Futures (Reporting of Derivatives Contracts) Regulations.
Source: SFA
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