Fund Management Licensing Regime Part 1: Introduction 新加坡基金管理许可制度第一章：简介
Company
业内公司
If a company raises or manages third party investors’ funds in a collective investment scheme, or invests them in segregated accounts into capital markets products (e.g. equities, fixed income and financial derivatives), it is deemed to be conducting fund management activities.
如果一家公司在集体投资计划中筹集或管理第三方投资者的资金，或将其投入隔离账户以投资资本市场产品（例如：股权、固定收益和金融衍生品），该公司将被视为从事基金管理活动。
To conduct fund management activities in Singapore, a company will either need to be registered with the Monetary Authority of Singapore (“MAS”) or hold a capital markets services (“CMS”) licence to operate as either:
在新加坡从事基金管理活动的公司必须在新加坡金融管理局（“新加坡金管局”）登记备案或持有资本市场服务许可证，以作为以下公司进行运营：
- a registered fund management company (“RFMC”); or
在新加坡金管局登记备案的基金管理公司（“登记基金管理公司”）；或 - a licensed fund management company (“LFMC”).
持有新加坡许可执照的基金管理公司（“持照基金管理公司”）。
Managers of venture capital funds may also apply to operate under the venture capital fund manager (“VCFM”) regime.
管理风险投资基金的公司也可以申请作为风险投资基金经理进行运营。
Types of fund management companies and permissible activities
基金管理公司类型和运营要求
Details of the different categories of fund management companies are set out below:
各类基金管理公司的详情如下：
| Type of FMC 基金管理公司类型 | Permissible Activities 运营要求 |
|---|---|
| RFMC 登记基金管理公司 |
|
| Retail LFMC 公募持照基金管理公司 |
|
| Accredited / Institutional LFMC 受信投资人/机构投资者持照基金管理公司 |
|
| Venture Capital Fund Manager 风险投资基金经理 |
|
As such, the type of application a company should make will depend on the size of the company’s expected AUM and target clientele.
因此，基金管理公司应申请的执照将取决于该公司的预计资产管理规模和目标客户。
Individuals
从业人员
Beyond company registration or licensing, individuals who perform key functions in a fund management company (e.g. portfolio construction and allocation, research and advisory work, business development and marketing, client servicing) are also required to be appointed as representatives to conduct regulated activities on the company’s behalf.
除公司需经过登记或许可外，在基金管理公司履行关键职能（例如：投资组合构建和分配、研究和咨询工作、业务开发和营销、客户服务）的人员也必须被任命为公司代表，以代替公司开展受监管的业务。
Such individuals must be:
此类人员必须：
- at least 21 years old;
至少年满21岁； - satisfy the minimum academic qualification and examination requirements set out in MAS’s Notice (SFA 04-N09); and
满足新加坡金管局通知（SFA 04-N09）中规定的最低学历和考试要求； - satisfy the fit and proper criteria set out in MAS’s Guidelines (FSG-G01).
符合新加坡金管局指南（FSG-G01）中作为适当人选的标准。
