Financial Services in Singapore

Tan Chwee Huat

In the past few years, many important changes have taken place in Singapore's financial marketplace, and the Monetary Authority of Singapore has implemented numerous reforms to liberalise the financial services sector.

Since 2002, two new laws have come into effect. The Securities and Futures Act (SFA) and the Financial Advisors Act (FAA - both have important implications on the financial profession. One example is that financial institutions must hold the Capital Market Services (CMS) licence and the Financial Advisors licence. Their representatives must pass the Capital Market and Financial Advisory Services (CMFAS) Examination.

This book discusses the changes in greater detail: Part A explains the details of the reforms and discusses the new laws and the regulators and Part B examines the wide range of financial services and products provided by the institutions. The work highlights the new collective investment scheme and the changes that have affected the Central Provident Fund scheme.

Financial Services in Singapore should be of interest to all who work in the financial services sector. It is also a must-read for investors who have to choose from a wide range of financial products. It will be especially useful to students and professionals in banking and finance.

TAN Chwee Huat is a Professorial Fellow at the NUS Business School, National University of Singapore.

publication year: 2004
268 pages
ISBN: 978-9971-69-291-9  Paperback  US$19.00  S$25.00