Singapore legislation
Regulation 14
of Securities and Futures (Clearing Facilities) Regulations 2013
Regulation 14
Obligation to submit periodic reports
Subregulation 1
For the purposes of section 62 of the Act, an approved clearing house shall submit to the Authority —
within 3 months after the end of the financial year of the approved clearing house or such longer period as the Authority may permit, a copy each of —
the annual report and directors’ report of the approved clearing house, prepared in accordance with the provisions of the Companies Act (Cap. 50); and
the auditors’ long form report of the approved clearing house;
within 45 days after the end of each of the first 3 quarters of the financial year of the approved clearing house or such longer period as the Authority may permit, a copy each, in such form as the Authority may approve, of —
the profit and loss accounts of the approved clearing house for the preceding quarter; and
the balance-sheet of the approved clearing house for the preceding quarter;
within 3 months after the end of the financial year of the approved clearing house or such longer period as the Authority may permit, a report on how the approved clearing house has discharged its responsibilities under the Act during that financial year;
(ca)a liquidity and solvency report for the preceding quarter —
within 30 days, or such longer period as the Authority may permit, after the end of each of the first 3 quarters of each financial year of the approved clearing house; and
within 60 days, or such longer period as the Authority may permit, after the end of the last quarter of each financial year of the approved clearing house;
(cb)within 30 days, or such longer period as the Authority may permit, after the start of each financial year of the approved clearing house, a capital plan for that financial year;
when required by the Authority, a report relating to the business of the approved clearing house; and
when required by the Authority, such other report as the Authority may require for the proper administration of the Act.
Subregulation 2
The auditors’ long form report referred to in paragraph (1)(a)(ii) shall include the findings and recommendations of the auditors, if any, on —
the internal controls of the approved clearing house; and
any non-compliance by the approved clearing house with —
any provision of the Act;
any direction issued by the Authority under the Act; or
any other relevant written law.
Subregulation 3
In this regulation —
Definition
“capital plan” means a report on the amount of resources, liquid assets and eligible capital an approved clearing house expects to maintain and use in a financial year, that contains the details specified in MAS Notice SFA 02/02A/03‑N01;
Definition
“liquidity and solvency report” means a report on how an approved clearing house has complied with the requirements specified in MAS Notice SFA 02/02A/03‑N01 as to the minimum liquid assets and minimum eligible capital the approved clearing house is required to hold, that contains the details specified in that Notice;
Definition
“MAS Notice SFA 02/02A/03‑N01” means the notice commonly known as MAS Notice SFA 02/02A/03‑N01 issued by the Authority under sections 45, 46ZK and 81R of the Act, as amended from time to time, and includes any notice that replaces it.