How do I appoint a representative for CMS licensee or exempt financial institutions?
Your company must notify MAS if it wishes to appoint representatives to conduct regulated activities on your behalf.
An individual can be an appointed, provisional or temporary representative. An appointed representative is an employee or agent carrying out regulated activities on behalf of your company. A provisional representative is an experienced individual relocating to Singapore from overseas who is given a grace period of 3 months to meet the relevant examination requirements. A temporary representative may be your related company’s employee residing overseas, who is designated to carry out the regulated activity on behalf of your company for a limited period of time.
How to apply?
If your company intends to appoint a representative, please submit the following forms, where applicable:
Appointed representative - Form 3A
Provisional representative - Form 3B
Temporary representative - Form 3C
Your company must also certify that the individual is fit and proper via the Corporations and Representatives System (CoRe system) .
You can find information on due diligence checks in CMI 01/2011: Due Diligence Checks and Documentation in Respect of the Appointment of Appointed, Provisional and Temporary Representatives.