Capital Markets Service Licence(CMSL)
Need for a Capital Markets Services Licence (CMSL)
Unless exempted, companies must hold a CMSL in Singapore to conduct certain regulated activities as defined in the Securities and Futures Act 2001 (SFA) namely:
- dealing in capital markets products
- advising on corporate finance
- fund management
- real estate investment trust management
- product financing
- providing credit rating services
- providing custodial services
Variations for Fund/Asset Management
For certain fund or asset management business models, there are options other than obtaining a CMSL to conduct fund management – companies managing assets below S$250 million can instead apply to be a Registered Fund Management Company (RMFC).
Companies managing venture capital may apply for a CMSL to conduct venture capital fund management. These variations come with differing application criteria and post-licensing compliance obligations. Integrity Consulting can guide your company on the application criteria and application procedures required to carry out your intended business model.
Navigating the CMSL or Registration Applications Requirements
Getting regulatory permission in Singapore is complicated and daunting as most companies do not know where to start or what the requirements are to attain their CMSL/registration in Singapore. What do we need to apply for based on our products, services, customers? What is the minimum headcount, office, capital and other criteria needed?
The process of putting together an application pack can also be tedious and challenging. What extent of information must be presented, how should it be best presented in a way that is clear to the regulator and most accurately depicts our business, how are actual and potential conflicts of interest identified and mitigated?
At Integrity Consulting, our team of consultants are able to assist with the licensing process, including advising you on which licence/registration is needed for your intended set-up and procedural assistance and preparation of all required documentation for MAS’ consideration of your application.
Why Choose Integrity Consulting For CMSL Applications
With more than 20 years of industry experience, Integrity Consulting is able to provide a highly customised service to cater to each client’s individual business, taking into account the complexities of a CMSL application.
Contact us for a consultation on your Capital Markets Services Licence application.