CMFAS 4A Flashcards
What listing and/or continuing listing requirements apply to a company that is seeking secondary listing on the SGX-ST Mainboard, if it has a primary listing on a Developed Market?
I, Maintain its primary listing on the Developed Market on a continuing basis
III, Meeting all listed criteria prescribed in the Listing Rules (except those on moratorium of promoters’ shareholding)
A listing applicant which is a foreign company with a 1-year operating track record and a market cap of $250M may apply for a listing on a continuing basis
SGX-ST Catalist
A listing appication which has been operating for two years has a market cap of S$10M may apply on
SGX-ST Catalist
A foreign issuer must have at least ____ independent director/s resident in Singapore for SGX Catalist listing
2
An applicant that is seeking listing on Catalist must satisfy which of the following listing criteria
I) Engage a sponsor who must provide a confirmation to SGX-ST that the applicant is suitable for listing
II) Settle all debts owning to the applicant and its Group by its directors, substantial shareholders and companies controlled by the directors and substantial shareholders prior to listing
III) Must have at least 2 non-executive directors who are independent and free of any material business or financial connection with the applicant
Which of the following persons are subjected to the moratorium requirements as set out in the SGX-ST Mainboard has acquired their shares less than 12 months preceding the date of the listing application. When can the controlling shareholder dispose of their shares
I) Controlling shareholders of the issuer
II) Investors who are connected to the Issue Manager or Catalist Sponsor (Except in the certain circumstances)
III) Investors who acquired and paid for his shares less than 12 months before the date of the listing application
IV) Executive directors of the issuer with an interest in 5% or more of the issued share capital
A controlling shareholder of an issuer who is listed on the SG-ST Mainboad has acquired their shares less than 12 months preceding the date of the listing application . When can the controlling shareholder dispose of their shares?
6 months after the listing of the issuer
Which of the following are steps that an issuer must take before its IPO of shares can be listed on the SGX-ST Mainboard
Obtain the eligibility-to-list (ETL) letter from SGX
Register the prospectus with MAS
Lodges the prospectus with MAS for posting on Opera to seek public comment on the prospectus
In general, MAS will register a prospectus
between 7 to 21 days (both days inclusive) from lodgement
For an IPO of shares to be listed on the SGX-ST Catalist, when must the issuer appoint a sponsor
During the preparation stage
When a reverse take-over is not completed or rescinded, which of the following information must the listed issuer immediately announce via SGXNET?
I, Reasons for the non completion
II, Financial impact of the non completion
III, Possible courses of actio to protect the interests of its shareholders
What is the mi offering period for an IPO on the SGX ST
2 market days
Who will be reliable under the Securities and Futures Act SFA if the offer doc for an offer has errors
directors of issuers
Directors are responsible for the accuracy of the prospectus… However, it is a defense if
all of the above
If supplementary document is lodged with the MAS, the person who lodges the doc
take responsible steps to inform potential investors of such lodgement and make available the supplementary doc to them
Under what circumstances can MAS not serve a stop order
I) When any of the shares tow hich the prospectus relates have been issued and sold
II) When the shares have been listed on a securities exchange
III) When trading in the shares has commenced
If a prospectus is found to contain false info, MAS
might serve a stop order
Before the units of a Business Trust BT are registered with the SGX-ST, BT is required to resolve conflicts of interest… who is not a interested person of the BT
external auditor of the trustee manager of a BT
How should the issue manager respond when there are concerns with the character and integrity of one of the directors of the issuer
Consult with SGXT-St before submitting
The following persons are responsible if prospectus contain false or misleading statement
I) person making the offer
ii) the proposed director of the company making the offer
Which of the following Investment Funds, denominated in foreign currency, is eligible to seek listing on SGX ST
25M and 5 years
Can price stabilisation be conducted in connection with an IPO
Yes provided that the stabilisation actions are taken in accordance with the conditions prescribe in the SFA
An issuer has its equity securities listed on the SGX-ST, If the listed issuer wishes to list debt securities on the SGX-ST, what document must the issuer include in the listing application to SGX-ST
I) constituent documents of the issuer
II) Mortgage indenture or equivalent instrument certified by the Trustee
III) Trust Deed and a checklist showing compliance with the requiremetns of the SGX-ST listing
A listed Issuer must ensure which of the following groups of people are familiar with SGX-ST’s disclosure requirements and corproate disclosure policy
Its directors and executive officers
SGXT-ST May grant a trading halt to enable disclosure of material information .. a trading halt will last at least ___ and cannot exceed ____
half an hour; 3 days
What is true abt financial reporting obligations of listed issuer
a listed issuer with a market cap of above 75M at listing is required to undertake quarterly financial reporting
A Mainboard issuer must prominently include in all announcement and shareholders’ information docs disclosure on the issue managers who sponsored the IPO for
2 years
A director of a listed issuer may participate directly or indirectly in the issuer of equity securities if
the issuer agreed on a pro rata basis to shareholders
Where can a general mandate for the issuance of equity securities be obtained from
shareholders by ordinary resolution at a general meeting
A listed issuer may purchase its own shares if it has obtained the prior specific approval of the ____
shareholders
ABC Limited, a company listed on the Mainboard, proposes to acquire property from its CEO. The value of the transaction is more than 7% of ABC Limited’s group latest audited net tangible assets. Which of the following requirements have been triggered under Chapter 9 of the Listing Manual?
Announcement and shareholders’ approval requirements
Which of the below are factors that SGX-ST will consider in determining whether an acquisition would alter the risk profile of Premium LT, which is a Listed Issuer
Change in ownership control of Premium Ltd
Expansion of Premium Ltd’s business coverage to the F&B sector
WHich of the following information must be contained in an Annual report
Corproate Governance Practices and Internal Controls
Which of the following persons is considered a substantial shareholder of a listed issuer
A person with deemed interest in minimum of 5% of the voting shares in the listed issuer, excluding treasury shares
Under the SGX-ST listing rules, which of the following event may result in delisting of a listed issuer
I) listed issuer remained on the watch-list under part V of Chapter 13 of the Mainboard Listing Manual for more than 24 months
II) Listed Issuer has insufficient free float
III) Listed Issuer voluntary delist itself
IV) Listed Issuer becomes a cash company and unable to meet requirements listing within 12 months
VIP is a listed company byt recently asset only has cash. What now
suspended
The burden of proof for establishing a civil penalty against an offender of a market misconduct provision is ______ that for prosecuting the offender for a market misconduct offence in a criminal proceeding which leads to criminal sanctions
lower than
Which of the following is NOT one of the steps involved in money laundering
Transfer
What are the stages of money laundering
placement, layering and integration
which of the following regarding Terrorist Financing is true
sources of terrorist financing may be legitimate or illegitimate
Sources of terrorist financing are ___
not always illegitimate
sources of terrorism financing may be derived from
kidnapping, extortion, donations and sale of publications
The statutory obligations and prohibitions relating to prevention
everyonne in singapore
Money laundering is an offence in SIngapore under the
Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act
What is the international body that sets standards for the prevention of financial crimes
Financial Action Task Force
Which of the key anti-money laundering legislation in Singapore that criminalised the laundering benefits derived from drug trafficking and other serious crimes
CDSA
which is not consdered a designated person under MAS Notice on Iran
a government with diplomatic ties to the goverment of Iran
the minimum period of retention of financial transaction documents is __ years after the day the account is closed
5
Suspicious Client wanna open account.. what to do
enhance DD and put Mr. X on an annual review cycle
If the screening result of a customer is a positive hit against sanctions list, what should the CMS Licenses Holder do
I< Freeze the funds and assets of designated persons and report promptly to relevant authorities
where would you lodge a suspicious transaction report
at the Commercial Affair Department of Singapore Police Force with a copy to MAS
when a suspicious transaction arises, an investigation and the suspicious transaction report should be filed within____days to the commercial affairs department of the police, as well as extend a copy of the report to MAS
15
What do you call the offence of disclosing information to anyone of his being investigated for an offence
tipping off
What consequences must a trading member and its trading rep face if found guilty of tipping off
regulatory sanctions
reputational loss
loss of business
representative must have training at regular intervals to remind themselves of their responsibilities to combat money laundering and be informed of new development. Refresher training should be held at least once every
year
