Singapore legislation
Regulation 25
of Securities and Futures (Licensing and Conduct of Business) Regulations
Regulation 25
Application of this Division
Subregulation 1
This Division shall apply to customer’s assets received by the holder of a capital markets services licence to be held on account of the customer or as collateral for any amount owed by the customer to the holder.
Subregulation 2
In this Division, “custodian” means a person referred to in regulation 27(1), (2) or (3), as the case may be.