Singapore legislation
Regulation 46AC
of Securities and Futures (Licensing and Conduct of Business) Regulations
Regulation 46AC
Maintaining records of approval
Subregulation 1
A holder of a capital markets services licence whose product advertisement is approved for the purposes of regulation 46(2)(g) must keep the following records for the following periods:
where the product advertisement is approved by the senior management of the holder under regulation 46AA(1)(a), the written reasons and written approvals of all the members of the senior management mentioned in regulation 46AA(2)(b) and (c), respectively, for a period of at least 5 years after the date on which the last member of the senior management gave his written reasons and written approval;
where the product advertisement is approved by an agent of the holder under regulation 46AA(1)(b) —
the written consent of all the members of the senior management of the holder to the appointment of the agent; (ii)the written reasons of the agent mentioned in regulation 46AA(3)(b); and
the written approval of the agent mentioned in regulation 46AA(3)(c),for a period of at least 5 years after the date on which the agent gave his written reasons and written approval to the holder under regulation 46AA(3)(c); (c)where the product advertisement is approved by a committee of the holder under regulation 46AA(1)(c) —
the written consent of all the members of the senior management of the holder to the appointment of the committee; (ii)the written reasons of all the members of the committee mentioned in regulation 46AA(4)(b); and
the written approval of all the members of the committee mentioned in regulation 46AA(4)(c),for a period of at least 5 years after the date on which the last member of the committee gave his written reasons and written approval to the holder under regulation 46AA(4)(c).
Subregulation 2
Where a holder of a capital markets services licence is exempt from regulation 46(1) under regulation 46AB(1) (read with regulation 46AB(2)(a)), paragraph (1) (read with regulation 46AA) applies to the preparer mentioned in regulation 46AB(2)(a) except that any reference to the holder of the capital markets services licence is read as a reference to the preparer.