Asked on 15 Jul 2020
Trustworthiness of a brokerage firm
Securities brokerage can apply for the capital markets services licence.
When assessing an application for a CMS licence, MAS takes into account factors such as:
Fitness and propriety of the applicant, its shareholders and directors.
Track record and management expertise of the applicant and its parent company or major shareholders.
Ability to meet the minimum financial requirements prescribed under the SFA.
Strength of internal risk management and compliance systems.
Business model/ plans and projections and the associated risks.
This is to safeguard the interest of the clients and minimise risk associated with the company.
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