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Date de publication: 2 oct. 2012
Auteur: Y B
Noter cette article :
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L'Autorité monétaire de Singapour a publié un communiqué de presse dans lequel elle annonce avoir réprimandé Cgim Pte, une société d'investissement, pour violation de la réglementation sur les valeurs mobilières et les contrats à terme.

Le groupe Cgim Pte aurait intentionnellement pris du retard dans la transmission d'un formulaire dans les 14 jours suivant la fin d'exercice financier 2011 à la MAS.

Résumé :

On 28 September 2012, MAS reprimanded CGIM Pte Ltd [“CGIM”] for repeated late lodgments of Form 25 of the Securities and Futures (Licensing and Conduct of Business) Regulations [“SF(LCB)Regs”] and Form 23 of the Financial Advisers Regulations ["FAR"] after the end of its financial year.  CGIM is an exempt fund manager under paragraph 5(1)(d) (now repealed) of the Second Schedule to the SF(LCB)Regs, undertaking fund management activity in Singapore on behalf of not more than 30 qualified investors. CGIM is also an exempt corporate financial advisor under paragraph 7(1)(b) of the Second Schedule to the SF(LCB)Regs, carrying on business in Singapore in giving advice on corporate finance to accredited investors. In addition, CGIM is an exempt financial adviser under section 23(1)(f) of the Financial Advisers Act read with regulation 27(1)(d) of the FAR.

Under the SF(LCB)Regs, the information to be filed in SF(LCB)Regs Form 25 includes the total assets under management of the exempt fund manager, and the total number of qualified investors on whose behalf the exempt fund manager undertakes such fund management activity.  By failing to submit SF(LCB)Regs Form 25 within 14 days after the date of its financial year end on 31 December 2011,  CGIM has contravened paragraphs 5(7)(d) (now repealed[1]) and 7(6)(d) of the Second Schedule to the SF(LCB)Regs.  This was not CGIM’s first breach of the SF(LCB)Regs.  CGIM was warned on two previous occasions, for its late submission of SF(LCB)Regs Form 25 for the financial years ended 31 December 2005 and 31 December 2008.

Under the FAR, the information to be filed in FAR Form 23 includes the total number of accredited investors on whose behalf the exempt financial adviser provides such financial advisory service.  By failing to submit FAR Form 23 within 14 days after the date of its financial year end on 31 December 2011, CGIM has contravened regulation 37(2)(d) of the FAR.  This was not CGIM’s first breach of the FAR.  CGIM was warned on a previous occasion, for its late submission of FAR Form 23 for the financial year ended 31 December 2008.

 

 

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