Singapore legislation
Regulation 46A
of Securities and Futures (Licensing and Conduct of Business) Regulations
Regulation 46A
Certain representations prohibited
Subregulation 1
Subject to paragraph (2), the holder of a capital markets services licence shall not represent or imply or knowingly permit to be represented or implied in any manner to any person that the holder’s abilities or qualifications have in any respect been approved by the Authority.
Subregulation 2
Paragraph (1) does not apply to a statement that a person is holding a capital markets services licence to carry on business in any regulated activity.
Subregulation 3
Any person who contravenes paragraph (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 and, in the case of a continuing offence, to a further fine of $5,000 for every day or part thereof during which the offence continues after conviction.