What does FSDA mean in GENERAL

The Financial Services Development Authority (FSDA) is a statutory body established to promote the development of financial services in Singapore. It oversees and facilitates the implementation of measures to facilitate the expansion and development of Singapore’s financial industry, while ensuring that all regulatory and statutory requirements are met, so as to protect investors and promote confidence in Singapore’s financial market.

FSDA works with public and private stakeholders through various engagements to ensure key initiatives are in place for continued growth, innovation, and competitiveness of the financial sector. It also formulates strategies to meet policy objectives that support sustainable growth of our financial industry while preserving integrity and stability.

FSDA provides various services such as assisting international investors interested in establishing operations in Singapore, fostering collaboration between industry players, conducting research into financial markets and providing advice on policies relating to banking, insurance, equities and derivatives.

FSDA does not regulate or monitor companies engaging in any type of financial activity; this role is fulfilled by regulatory authorities such as Monetary Authority of Singapore (MAS). However, it does provide a platform for engagement with these firms, facilitating discussions on issues related to regulatory compliance and consumer education.

You may contact any authorised person who is licensed by MAS for investment-related activities. These persons include issuers/intermediaries rendering capital markets services as prescribed under the Securities and Futures Act (Cap 289), banks registered under the Banking Act (Cap 19) or merchant bank approved by MAS to carry out deposit-taking activities, insurers regulated under the Insurance Act (Cap 142), holders of a REITs licence issued by MAS under Section 43A of the Securities & Futures Act etc. Alternatively you may refer your query to FINAS at [email protected].

As part of its mandate towards investor protection, FSDA encourages licensed persons/companies engaging in offering capital markets products/services such as securities/futures contracts/investments vehicles etc.,to comply with their legal obligations under relevant legislations administered by MAS where it concerns product disclosure obligations when offering these products/services. Furthermore through investor education initiatives conducted by FINAS there has been an increasing awareness among retail investors on responsible investing habits.

You can check with MAS directly via its investor alert list which contains names or entities that are not licensed or regulated by MAS but offer investment services which require a license; alternatively you may access infographics provided on MAS website which provide detailed information on how to identify unauthorised persons who are offering unregulated Investment Products within Singapore.