Singapore legislation
Regulation 28
Regulation 28
Exemption for giving advice or analysis on bonds
Subregulation 1
A corporation (not being a licensed financial adviser or a person exempt from holding a financial adviser’s licence under section 20(1)(a), (b), (c), (d) or (e) of the Act) which carries on a business of providing advice concerning bonds to any of the following, either directly or through publications or writings or by issuing or promulgating research analyses or research reports, is exempt under section 20(1)(g) of the Act from holding a financial adviser’s licence in respect of that activity:
an expert investor; (b)an accredited investor;
an ex-accredited investor who is an existing customer of the corporation, but only in respect of the corporation’s business of providing advice concerning bonds that is carried on in the period from 8 October 2018 to 7 April 2019 (both dates inclusive).
Subregulation 2
A licensed financial adviser which carries out the activity referred to in paragraph (1) shall be exempt from complying with sections 35 to 38 and 45 of the Act in respect of such activity.
Subregulation 3
A person exempt from holding a financial adviser’s licence under section 20(1)(a), (b), (c), (d) or (e) of the Act which carries out the activity referred to in paragraph (1) shall, notwithstanding section 20(2) of the Act, be exempt from complying with sections 35 to 38 and 45 of the Act in respect of such activity.
Subregulation 4
An appointed or a provisional representative of a financial adviser referred to in paragraphs (2) and (3) who carries out the activity referred to in paragraph (1) for the financial adviser shall be exempt from complying with sections 35 to 38 and 45 of the Act in respect of such activity.