Identifying Reporting Obligations
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      Singapore: Who is exempted from the reporting obligations?

      The following persons are exempted from the reporting obligations: 

      1. an approved trustee mentioned in section 289 of the SFA; 
      2. a licensed trust company that entered into the specified derivatives contract  as a trustee; 
      3. a subsidiary of a bank incorporated in Singapore – 
        1. which has carried on its business or operations for less than 4  consecutive quarters; or  
        2. if the conditions in regulation 10C(4) of the SF(RDC)R are met; 
      4. a licensed insurer – 
        1. which has carried on its business or operations for less than 4  consecutive quarters; or  
        2. if the conditions in regulation 10C(4) of the SF(RDC)R are met; 
      5. a CMSL – 
        1. which has carried on its business or operations for less than 4  consecutive quarters; or  
        2. if the conditions in regulation 10A(4) of the SF(RDC)R are met (Regulation 10A of the SF(RDC)R incorporated the exemption provided in the Securities and Futures (Reporting of  Derivatives Contracts) (Exemption) Regulations 2014, which was repealed with effect from 1 April 2018.) ; and  
      6. persons specified in the Fourth Schedule to the SF(RDC)R, including the  Singapore government, central banks, multilateral development agencies  and international organisations. 

      Regulation 10B of the SF(RDC)R was repealed with effect from 1 October 2019 as it was a  temporary exemption granted to licensed fund managers and real estate investment trust managers to allow a more gradual phasing-in of the reporting commencement dates by  CMSLs. 

      References:  

      • Regulations 10, 10A, and 10C of the SF(RDC)R 
      • Fourth Schedule to the SF(RDC)R