What is the criteria for Approved SRS Fund Managers and how does a fund manager register itself as an approved manager?

Any financial institution licensed by MAS may offer its products to SRS account holders. There is no additional registration process for SRS product providers. However product providers should clarify with the SRS operators the settlement procedures for SRS transactions.

We want to highlight that SRS product providers must generally 'tag' the product purchased with SRS funds. Specifically, an SRS product provider must comply with the following:

• It must return the cash from the liquidation of any product originally purchased with SRS fund to the SRS account (i.e. to the SRS operator) and not to the account holder directly.
  
  

• It should be prepared to supply any information relating to the SRS investments to the SRS operators (which they may need in fulfilling their reporting requirement prescribed by the authorities).
  
  

• All returns from the investments (distributions, dividend etc) must also be paid to the SRS account and not to the account holder directly.