Singapore legislation
Regulation 34A
of Securities and Futures (Licensing and Conduct of Business) Regulations
Regulation 34A
Assets received from retail customer
Amended byS 667/2018 wef 08/10/2018
The holder of a capital markets services licence must not, in relation to any assets received from its retail customer, enter into any contract, arrangement or transaction of which the purpose or effect is to transfer any right, interest, benefit or title in those assets to itself or any other person, unless —
(a)
the contract, arrangement or transaction is entered into in connection with borrowing or lending of the retail customer’s specified products; and
(b)
the holder complies with regulation 45(1), (3) and (4) in relation to the borrowing or lending (as the case may be) of the retail customer’s specified products.