CMFAS M8 What a CIS Is & the Regulatory Framework question: Securities and Futures Act (SFA) govern in relation to collective investment schemes

CMFAS M8What a CIS Is & the Regulatory Framework

Which of the following does the Securities and Futures Act (SFA) govern in relation to collective investment schemes?

A The income tax treatment of fund distributions paid to Singapore-resident investors
B The accounting standards used to prepare and audit the financial statements of fund managers
C When a CIS may be offered, the disclosure required, and licensing of those who manage and market funds
D The maximum salaries and bonuses that fund management companies may pay their staff

Show the answer and explanation

Answer: C. When a CIS may be offered, the disclosure required, and licensing of those who manage and market funds

The SFA sets out when a CIS may be offered to the public, the disclosure that must accompany an offer, the authorised/recognised requirement for retail schemes, and the licensing of entities that manage and market funds.

Common mistake

Confusing the SFA's offering and licensing scope with tax, audit or remuneration matters.

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Study note: What a CIS Is & the Regulatory Framework CMFAS M8practice questions & mock exams

Answer: C. When a CIS may be offered, the disclosure required, and licensing of those who manage and market funds

Common mistake

Confusing the SFA's offering and licensing scope with tax, audit or remuneration matters.

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CMFAS M8 What a CIS Is & the Regulatory Framework question: Securities and Futures Act (SFA) govern in relation to collective investment schemes

Answer: C. When a CIS may be offered, the disclosure required, and licensing of those who manage and market funds

Common mistake

Related CMFAS M8 questions

CMFAS M8 What a CIS Is & the Regulatory Framework question: Securities and Futures Act (SFA) govern in relation to collective investment schemes

Answer: C. When a CIS may be offered, the disclosure required, and licensing of those who manage and market funds

Common mistake

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