Singapore legislation
Regulation 9
of Securities and Futures (Organised Markets) Regulations 2018
Regulation 9
Obligation to submit periodic reports
Subregulation 1
For the purposes of section 19 of the Act, an approved exchange must submit to the Authority —
within 3 months, or such longer period as the Authority may allow, after the end of each financial year of the approved exchange —
a copy of its financial statements, auditor’s report and statement of directors mentioned in section 201(16) of the Companies Act (Cap. 50); (ii)a copy of a report mentioned in paragraph (2) of the auditors of the approved exchange; and
a report on how the approved exchange has discharged its responsibilities under the Act during that financial year;
within 45 days, or such longer period as the Authority may allow, after the end of each of the first 3 quarters of each financial year of the approved exchange —
a copy of its profit and loss accounts for the preceding quarter; and
a copy of its balance-sheet for the preceding quarter;
within 5 months, or such longer period as the Authority may allow, after the end of each of its financial years, a copy of the balance‑sheet of the fidelity fund of the approved exchange prepared under section 180 of the Act;
where the approved exchange operates an organised market at which offers or invitations to exchange, sell or purchase specified products are made —
a report in Form 6 within 10 business days, or such longer period as the Authority may allow, after the end of each month;
a report in Form 7 within 10 business days, or such longer period as the Authority may allow, after the end of each quarter of a year; (e)where the approved exchange operates an organised market at which offers or invitations to exchange, sell or purchase derivatives contracts are made or an organised market prescribed under paragraph 1(1)(b) of the First Schedule to the Act, a report in Form 8 within 10 business days, or such longer period as the Authority may allow, after the end of each month;
a liquidity and solvency report for the preceding quarter —
within 30 days, or such longer period as the Authority may allow, after the end of each of the first 3 quarters of each financial year of the approved exchange; and
within 60 days, or such longer period as the Authority may allow, after the end of the last quarter of each financial year of the approved exchange; and
within 30 days, or such longer period as the Authority may allow, after the start of each financial year of the approved exchange, a capital plan for that financial year.
Subregulation 2
The report mentioned in paragraph (1)(a)(ii) must include the findings and recommendations of the auditors (if any) on —
the internal controls of the approved exchange; and
the non‑compliance with —
any provision of the Act;
any direction issued by the Authority under the Act; or
any other written law or rule of law on the internal controls of the approved exchange.
Subregulation 3
In this regulation —
Definition
“capital plan” means a report on the amount of liquid assets and eligible capital an approved exchange expects to maintain and use in a financial year, that contains the details specified in MAS Notice SFA 02/02A/03-N01;
Definition
“liquidity and solvency report” means a report on how an approved exchange has complied with the requirements specified in MAS Notice SFA 02/02A/03-N01 as to the minimum liquid assets and minimum eligible capital the approved exchange is required to hold, that contains the details specified in that Notice;
Definition
“MAS Notice SFA 02/02A/03-N01” means the notice commonly known as MAS Notice SFA 02/02A/03-N01 issued by the Authority under sections 45, 46ZK and 81R of the Act, as amended from time to time, and includes any notice that replaces it.