A type of financial services license granted by the Monetary Authority of Singapore (MAS) for business that conduct certain activities regulated under the Securities and Futures Act (SFA)
Penalty occur without CMS license:
Capital Market Product: (including securities, units in a collective investment scheme (CIS), over-the-counter (OTC) derivatives, exchange-traded derivatives and spot foreign exchange)
Directors: At least 2 directors, with one director resident in Singapore
Chief Executive Officer: A Chief Executive Officer with at least 10 years of relevant experience, and who is resident in Singapore
Must be at least 21 years old
Representatives: At least 2 full-time Singapore-based individuals for each regulated activity should be appointed as representatives of the business. They will be the ones who carry out the regulated activities on behalf of your business
Ability to meet the minimum financial requirements prescribed under the SFA. For example, there is a financial requirement of $250,000 base capital for a credit rating agency and a base capital requirement of S$1 million for a REIT manager.