In forceUpdated to 30 Jun 2025

Contents

Financial Services and Markets Act 2022 · Updated to 30 Jun 2025 · Part 9 · Digital Token Service Providers

144. Obligation of licensee to notify Authority of certain events

(1)

A licensee must notify the Authority of the occurrence of any of the following events as soon as practicable after that occurrence:

(a)

any civil or criminal proceeding instituted against the licensee, whether in Singapore or elsewhere;

(b)

any event (including an irregularity in the operations of the licensee) that materially impedes or impairs the operations of the licensee;

(c)

the licensee being or becoming, or being likely to become, insolvent or unable to meet any of the licensee’s financial, statutory, contractual or other obligations;

(d)

any disciplinary action taken against the licensee by any regulatory authority (other than the Authority), whether in Singapore or elsewhere;

(e)

any significant change to the regulatory requirements imposed on the licensee by any regulatory authority (other than the Authority), whether in Singapore or elsewhere;

(f)

any other event that the Authority may prescribe or specify by written notice.

(2)

A licensee must notify the Authority of the occurrence of any other event that the Authority may prescribe or specify by written notice within 14 days after the date of that occurrence.

(3)

A person that contravenes subsection (1) or (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $250,000.

Report

Read on from s 145

Part 10