- Knowledge Base
- MAS
- Identifying Reportable Derivatives Contracts
Singapore: Is there an exemption for transactions with certain types of counterparties, e.g. central banks?
Derivatives contracts where a party to the contract is the Government of Singapore, a statutory board, central bank, multilateral development agency, or international organisation are exempted from reporting. The full list of such exempted persons can be found in the Fourth Schedule to the SF(RDC)R. This exemption applies to derivatives contracts where (i) the reporting entity is a party to the derivatives contract, and (ii) the reporting entity executes the derivatives contract or causes the execution of the derivatives contract as an agent of a party to the contract.
Derivatives contracts entered into between a CMSL and a person who is not an accredited or institutional investor are also exempted from reporting.
References:
- Regulations 10 and 10A of the SF(RDC)R
- Fourth Schedule to the SF(RDC)R