Singapore legislation
Regulation 5
of Financial Services and Markets (Prescribed Financial Institutions under Section 49) Regulations 2024
Regulation 5
Type C financial institutions
Each of the following financial institutions is prescribed as a Type C financial institution for the purposes of section 49(5) of the Act:
a bank that is incorporated outside Singapore;
a licensed insurer that is incorporated outside Singapore;
a merchant bank;
a finance company licensed under section 6 of the Finance Companies Act 1967;
a holder of a capital markets services licence granted under section 86 of the Securities and Futures Act 2001;
a trustee for a collective investment scheme authorised under section 286 of the Securities and Futures Act 2001, that is approved under section 289 of that Act;
a recognised market operator as defined in section 2(1) of the Securities and Futures Act 2001;
a licensed foreign trade repository as defined in section 2(1) of the Securities and Futures Act 2001;
a recognised clearing house as defined in section 2(1) of the Securities and Futures Act 2001;
an authorised benchmark administrator or exempt benchmark administrator as defined in section 2(1) of the Securities and Futures Act 2001;
an authorised benchmark submitter, a designated benchmark submitter or an exempt benchmark submitter as defined in section 2(1) of the Securities and Futures Act 2001 (but that is not a Type B financial institution);
a financial adviser licensed under section 10 of the Financial Advisers Act 2001;
an insurance broker registered under section 76 of the Insurance Act 1966;
a licensed trust company licensed under section 5 of the Trust Companies Act 2005;
a payment service provider licensed under section 6(7)(a) of the Payment Services Act 2019.