Singapore Financial adviser license

Financial advisers are licensed and governed under the Financial Advisers Act (FAA) and its subsidiary legislation, including the regulations, notices, guidelines and circulars issued under the FAA

A company which conducts one or more of the following activities is required to be licensed as a financial adviser, unless an exemption applies:

  • Advising others concerning any investment product, other than advising on corporate finance.
  • Advising others by issuing or promulgating research analyses or research reports concerning any investment product.
  • Arranging of life policies.

A person shall be deemed to be acting as a financial adviser in Singapore if he engages in any activity or conduct that is intended to or likely to induce the public in Singapore or any section thereof to use any financial advisory service provided by the person, whether or not the activity or conduct is intended to or likely to have that effect outside Singapore.

Legal Requirements

Sr.

No

ElementRequirement(s)
Entity RequirementsThe entity making the application is a Singapore:

  1. A company,
  2. Sole proprietor
  3. Foreign owned company,
  4. Partnerships,
Director’s RequirementsAt least one Executive Director of the applicant is a Singapore citizen or permanent resident.
Shareholder requirementsEvery Singapore License will need at least one shareholder.
Compliance OfficerThe Licensee must establish and maintain an appropriate and effective compliance function within the firm which operates independently of all operational and business line functions and senior or supervisory management.
Local OfficeThe applicant must have premises in the island acceptable to the commission prior to operating the business. The premises should be able to facilitate confidential interaction between the applicant and its clients, and provide for safe and confidential storage of documents.
Professional Indemnity InsuranceFinancial Adviser shall have in force, at all times during the currency of its licence, a professional indemnity insurance policy, the cover of which is consistent with such limit and deductible requirements as may be prescribed, or any other measure as may be approved by the Authority in lieu of a professional indemnity insurance policy

Ongoing Obligations

  1. The Authority may, in writing, require any licensed financial adviser to furnish it with information about any matter related to its business whether carried on in Singapore or elsewhere if, in the opinion of the Authority, it requires the information for the discharge of its functions under this Act.
  2. A licensed financial adviser which has been required to furnish information to the Authority under section (i) shall comply with such requirement.
  3. Any person who, without reasonable excuse, contravenes section (ii) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000 or to imprisonment for a term not exceeding 12 months or to both and, in the case of a continuing offence, to a further fine not exceeding $2,500 for every day or part thereof during which the offence continues after conviction.

About Valsen Fiduciaries

Valsen Fiduciaries is a licensed independent global service provider of a broad range of fiduciary, administrative, legal, corporate secretarial and support services.

    1. Company formations and Administration
    2. Assistance with Bank Account opening
    3. Collective Investment Setup and Administration
    4. Intellectual Property Registrations and Maintenance.
    5. Trusts and Foundations setup and administration
    6. Online Payment Gateway Solutions
    7. Banking Licenses and PSP, E-Money, E- Wallet Licenses
    8. Yacht and aircraft registrations.
    9. Cryptocurrency Solutions (ICO, STO, Crypto Exchanges etc)

The Valsen Advantage

  • We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances. We have extensive knowledge of a wide range of securities dealer licenses in all major jurisdictions.
  • Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
  • We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
  • We have a full in-house compliance support for all compliance requirements with the regulator and service providers

Our Contact Details

Please visit us on: www.offshorelicense-regulatory.com , www.valsen-corporate.com

OR Contact us on:

  • Tel: +248 4321018
  • WhatsApp: +248 2525217
  • Skype: vf-international.com
  • Email: [email protected]