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Statement to be lodged in respect of regulated activities

Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations

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—(1) The holder of a licence referred to in regulation 5 shall prepare —(a)a statement of assets and liabilities in Form 1; and(b)a statement of financial resources, total risk requirement and aggregate indebtedness, where applicable, in Form 2,in respect of each quarter of a year or such longer period as the Authority may allow.(2) [Deleted by S 192/2013 wef 03/04/2013](3) [Deleted by S 192/2013 wef 03/04/2013](4) The holder of a licence referred to in paragraph (1), shall, in preparing any statement referred to in that paragraph, describe the assets and liabilities of its business in a manner that will give a true and fair view of the state of affairs of the business as at the end of the period for which the statement is prepared.(5) The holder of a licence for product financing shall prepare statements in Forms 7, 8 and 9 relating to the carrying on of its business in product financing in respect of each quarter of a year.(6) Every statement referred to in paragraph (1) or (5) shall be lodged with the Authority no later than 14 days, or such longer period as the Authority may allow, after the end of the period for which the statement is prepared.(7) Any holder of a licence which fails to lodge any of the statements with the Authority within the period stipulated in paragraph (6), or such longer period as may be allowed by the Authority under that paragraph, 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 not exceeding $5,000 for every day or part thereof during which the offence continues after conviction.(8) For the purposes of section 107 of the Act, the holder of a licence shall prepare and lodge with the Authority, by personal delivery or by pre-paid post, true and fair financial statements made up to the last day of each financial year in accordance with the provisions of the Companies Act (Cap. 50), together with an auditor’s report in Form 5.(9) The documents referred to in paragraph (8) shall be accompanied by an auditor’s certification in Form 6 and a copy of each of the following documents duly lodged in accordance with regulation 26:(a)a statement relating to the accounts of the holder in Form 3 and a statement relating to further information of the accounts of the holder in Form 4; and(b)where the holder is a person referred to in regulation 5, a statement of assets and liabilities in Form 1 and a statement of financial resources, total risk requirement and aggregate indebtedness in Form 2.(c)[Deleted by S 192/2013 wef 03/04/2013](d)[Deleted by S 192/2013 wef 03/04/2013](e)[Deleted by S 192/2013 wef 03/04/2013](10) Any holder of a licence which contravenes paragraph (9) 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 not exceeding $5,000 for every day or part thereof during which the offence continues after conviction.

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