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This programme will give you an overall understanding of the fund management and distribution landscape
in Singapore. The programme is designed for use as a reference tool by fund managers and fund distributors.
It comprises 7 courses, each of which can be taken on a stand-alone basis.
Please click "Prospectus" to download the Programme Prospectus.
Investment Funds Programme Preview (Free course)
This is a preview of the Investment Funds Programme.
Introduction to Investment Funds
At the end of the course, you should understand:
- what are investment funds;
- the different ways in which they can be classified;
- the differences between a securities fund and a property fund;
- the different ways in which investment funds can be set up in Singapore;
- what is a collective investment scheme;
- when you need to be licensed or registered under the SFA for fund management or REIT management;
- when you need to be licensed or registered under the SFA for fund distribution; and
- who are retail and non-retail customers and why it matters.
At the end of the course, you should understand:
- the BCR that you need to comply with if you hold a CMS licence; and
- which of the BCR applies to you if you are a bank or merchant bank that is registered under the SFA.
At the end of the course, you should understand:
- the additional BCR that you need to comply with if your CMS licence is for fund management and you are a Retail LFMC;
- the additional BCR that you need to comply with if your CMS licence is for REIT management; and
- which of the fund management BCR applies to you if you are a bank or merchant bank that is registered under the SFA for fund management.
At the end of the course, you should understand:
- the additional BCR that you need to comply with if your CMS licence is for dealing; and
- which of the additional BCR applies to you if you are a bank or merchant bank that is registered under the SFA for dealing.
At the end of the course, you should understand:
- the purpose of the CIS Code;
- the key areas covered by the CIS Code; and
- the different treatment of securities funds and property funds.
At the end of the course, you should understand:
- what is an offer of CIS to which the offering rules apply;
- how the extra-territorial provisions apply to an offer of units in a CIS made wholly outside Singapore;
- the different application of the offering rules depending on who the offerees are;
- the differences between restricted schemes, authorised schemes and recognised schemes;
- the differences between prospectuses, information memoranda and product highlight sheets;
- the offer information statement, private placement and small offers exemptions;
- the ASEAN CIS Framework;
- what advertisements are permitted; and
- what are the requirements that must be complied with for permitted advertisements.
At the end of the course, you should understand:
- what is the CPF Investment Scheme;
- what fund products are approved investments under the CPFIS-OA and CPFIS-SA schemes;
- what funds are eligible for inclusion under the CPFIS;
- how do you get a fund included under the CPFIS;
- what does the CPF Investment Guidelines require;
- the additional BCR that CPFIS-included funds need to comply with; and
- what is the CPFIS Risk Classification System.
IBF Masterclass held on 10 March 2020 (Free course)
The "Introduction to the new Singapore SFA and FAA and OTC derivatives contracts" was presented at the
IBF Masterclass held on 10 March 2020. It provides a high-level overview of the
licensing requirements and the business conduct requirements under the Securities and Futures Act ("SFA") and
the Financial Advisers Act ("FAA"); the margining, clearing, trading and reporting rules; the public offering
rules; and the transitional arrangements under the SFA and the FAA. The script for the IBF Masterclass, and
the questions and answers raised in the IBF Masterclass are included.
History, basic concepts and fundamental definitionsWhat led to the 8 October 2018 changes to the Securities and Futures Act and the Financial Advisers Act? What are the different product types? OTC-traded vs swap execution facility ("SEF")-traded vs exchange-traded. Settlement of exchange-traded products vs clearing of OTC derivatives contracts. What are capital markets products, investment products, securities, derivatives contracts, securities-based derivatives contracts ("SBDCs"), specified SBDCs and specified products? What does "dealing in capital markets products" and "financial advisory service" mean?
Course DetailsWho is a customer, who are retail and non-retail customers and why it matters? How have the definitions of accredited investors and institutional investors changed? What is the opt-in/opt-out regime for accredited investors?
Course DetailsWhen do you need to be licensed or registered under the Securities and Futures Act ("SFA") and the Financial Advisers Act ("FAA") in relation to over-the-counter derivatives contracts? When does an individual need to be appointed as a representative in relation to over-the-counter derivatives contracts? How does an individual become an appointed representative? What are the Paragraph 9 SFA and Paragraph 11 FAA exemptions?
Course DetailsWhat are the licensing, dealing and risk mitigation business conduct requirements that capital markets services licence holders and exempt financial institutions are required to comply with when dealing in over-the-counter derivatives contracts?
Course DetailsWhat are the business conduct requirements relating to customer's moneys and assets that capital markets services licence holders and exempt financial institutions are required to comply with when dealing in over-the-counter derivatives contracts?
Course DetailsWhat are the licensing and financial advisory business conduct requirements that licensed financial advisers and exempt financial advisers are required to comply with when advising on over-the-counter derivatives contracts?
Course DetailsWhat does "booked in Singapore", "traded in Singapore", average aggregate notional amount and aggregate gross notional amount mean?
Course DetailsWhat are the margining requirements for non-cleared over-the-counter derivatives contracts under MAS's Guidelines on Margin Requirements for Non-Centrally Cleared OTC Derivatives Contracts?
Course DetailsWhat are the clearing and trading requirements for over-the-counter derivatives contracts?
Course DetailsWhat are the reporting requirements for over-the-counter derivatives contracts?
Course DetailsWhat are the public offering rules and how do they affect over-the-counter derivatives contracts?
Course DetailsWhen does MAS's Notice on the Sale of Investment Products and MAS's Notice on Recommendations on Investment Products apply? What are the requirements?
Course DetailsWhat is a financial market infrastructure ("FMI")? When do you need to be licensed or registered as an FMI?
Course DetailsWhat are "new" derivatives contracts under the Securities and Futures Act and the Financial Advisers Act?
Course DetailsWhat are the transitional reliefs from the licensing and business conduct requirements under the Securities and Futures Act and the Financial Advisers Act in relation to over-the-counter derivatives contracts? What are the "grand-fathering" provisions for representatives in relation to over-the-counter derivatives contracts?
Course Details
ISDA Documentation OverviewHow is a swap different from a loan? How do you value a swap? Why do you need the ISDA Master Agreement? What are the key features and purpose of the ISDA documentation? How are swap collateral arrangements different from conventional collateral arrangements? What is variation margin ("VM") and initial margin ("IM") and regulatory VM and IM?
Course DetailsWhat are the provisions in the ISDA Master Agreement that apply when it is "business as usual" between the parties? What are the "3 pillars" of the ISDA Master Agreement?
Course DetailsWhat are the provisions in the ISDA Master Agreement that apply when things go wrong? When can you terminate outstanding Transactions? How do you terminate for Events of Default? Litigation or arbitration? What governing law should you apply?
Course DetailsWhat are the key points that need to be agreed or are frequently negotiated in the ISDA Master Agreement? What are the points that you need to consider when negotiating the ISDA Credit Support Documents and the ISDA Confirmations? Sample provisions are included for reference.
Course Details