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CMFASPrepStudyingRES5
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Financial advisory
RES5Financial Advisory Services✓A locally incorporated bank wishes to conduct certain dealing activities in capital markets products. Which statement is most accurate?
Banks licensed under the Banking Act may conduct certain capital markets activities under exemptions or additional MAS authorisations, rather than always requiring a standalone CMS licence. They do not become exchanges or lose their banking licence.
The CMS licence is the general route, but banks often rely on exemptions/authorisations.
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