Singapore

New Regime for “Collective Investment Schemes” under the Securities and Futures Act 2001 (“SFA”)

Jacqueline Loke & Chong Kim Soon, Advocates & Solicitors, Rodyk & Davidson

The Securities and Futures Act 2001 (“SFA”) was passed by the Singapore Parliament on 5 October 2001, and is expected to come into effect in the early part of 2002. The Securities and Futures Act 2001 is an omnibus piece of legislation merging the legislation governing securities and derivatives dealing, as well as streamlining and consolidating public offering requirements relating to securities previously contained in the Companies Act.