Singapore legislation
Regulation 5
of Financial Services and Markets (Resolution of Financial Institutions) Regulations 2024
Regulation 5
Definition of “pertinent financial institution”
For the purposes of the definition of “pertinent financial institution” in section 58 of the Act, each of the following persons is a pertinent financial institution for the purposes of Part 8 of the Act:
a bank;
a finance company licensed under the Finance Companies Act 1967;
a merchant bank;
a designated financial holding company;
an operator or a settlement institution of a designated payment system under the Payment Services Act 2019;
an approved exchange, a recognised market operator, a licensed trade repository, a licensed foreign trade repository, an approved clearing house, a recognised clearing house, an approved holding company, a Depository or a holder of a capital markets services licence under the Securities and Futures Act 2001 (not being a holder of a capital markets services licence under the Securities and Futures Act 2001 who only carries on business in the regulated activity of providing credit rating services but not any other regulated activity as defined in section 2(1) of that Act); (g)a trustee for a collective investment scheme authorised under section 286 of the Securities and Futures Act 2001, that is approved under that Act;
a licensed trust company under the Trust Companies Act 2005;
an insurer licensed under the Insurance Act 1966.