Financial Services in Singapore

Financial Services in Singapore

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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 a Capital Market Services (CMS) licence and a Financial Advisors licence, and their representatives must pass the Capital Market and Financial Advisory Services (CMFAS) Examination. This book discusses the changes in detail: Part A explains the reforms and new laws and 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 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 studentsPlatinum Smart Card is by invitation only. Each class of card has its set of privileges, spending limit and annual fees. Debit cards work like a credit card when the person signs for the amount spent. The difference is that it debits that amountanbsp;...

Title:Financial Services in Singapore
Author:Chwee Huat Tan
Publisher:NUS Press - 2004-01


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