Singapore legislation
Regulation 38
of Securities and Futures (Licensing and Conduct of Business) Regulations
Regulation 38
Customer’s moneys and assets held by approved clearing house or recognised clearing house
Subregulation 1
The holder of a capital markets services licence which is a member of an approved clearing house or a recognised clearing house shall, in respect of such market contracts as may be specified by the approved clearing house or recognised clearing house (as the case may be), inform the approved clearing house or recognised clearing house (as the case may be) in the manner determined by the approved clearing house or recognised clearing house (as the case may be) —
whether a market contract that is being cleared by the approved clearing house or recognised clearing house (as the case may be) is a customer’s contract; and
whether any money or asset being deposited with or paid to the approved clearing house or recognised clearing house (as the case may be) is deposited or paid in respect of or in relation to the customer’s contract.
Subregulation 2
In this regulation —
Definition
“customer’s contract” means —
a contract to which a customer of the holder is a party; or
a contract to which any other holder of a capital markets services licence to deal in capital markets product is a party and which is cleared through the first-mentioned holder;
Definition
“market contract” has the same meaning as in section 48(1) of the Act.