(30 August 2021)
Effective 1 Oct 2021, IBF will implement
Vaccine Differentiated Safe Management Measure (VDS) for examination candidates to minimise the community spread of the Covid-19 virus.
Under the VDS, candidates are permitted to physically sit for the examinations at IBF Assessment Centre only if they meet any of the following criteria:
A candidate is considered fully vaccinated two weeks after he or she has received the full regimen of Pfizer-BioNTech/ Comirnaty, Moderna or any vaccines in the World Health Organisation's Emergency Use Listing (WHO EUL). For information on the WHO EUL, please visit the website
Please refer to
https://go.gov.sg/swabproviders for the list of MOH-approved COVID-19 test providers. We seek your kind cooperation to help keep the community safe and as well as prioritize your health and safety. If you need any further clarification or assistance, please email us at: email@example.com.
(21 April 2020) In view of the COVID-19 pandemic, the IBF has suspended the administration of all examinations at its premises from 9 April 2020. This development, coupled with the various COVID-19 measures imposed locally and overseas, has hampered the ability of Covered Persons to pass the CACS exams in a timely manner.
To minimise business disruptions, PBIG, in consultation with MAS, will provide flexibility for Covered Entitles to allow Covered Persons to provide financial/wealth advisory services to clients on behalf of his/her Covered Entity, pending fulfilment of the CACS requirements under para 2.1.1 of the Private Banking Code of Conduct, subject to safeguards. A Covered Person will be given a 6-month grace period from his date of appointment to pass the relevant CACS exams. For instance, an individual who is appointed as a Covered Person on 1 May 2020 (save for passing CACS exams) will have a 6 month grace period to pass his CACS exams (i.e. the Covered Person will only be required to complete the CACS exams by 31 October 2020).
Except for the CACS requirements, Covered Entities will still have to perform proper due diligence to ensure that the Covered Persons fulfil all other minimum entry requirements, the FIs’ internal recruitment criteria, and are fit and proper to be appointed as Covered Persons.
(8 April 2020) In view of the COVID-19 situation, the Institute of Banking and Finance (IBF) and the Singapore College of Insurance (SCI) will be suspending the CMFAS exams from 9 April 2020 to 4 May 2020 (dates inclusive). This, together with other measures imposed locally and overseas (e.g. border controls, safe distancing), have impacted the ability of individuals to take the CMFAS exams in a timely manner. To minimise business disruptions, MAS will allow individuals to be appointed representatives and commence regulated activities, before fulfilling the CMFAS exam requirements, subject to safeguards.
An appointed representative will be given a 6-month grace period from his date of appointment to pass the relevant CMFAS exams (“temporary relief measure”). For instance, an individual who is appointed as a representative for a regulated activity on 1 May 2020 (save for passing CMFAS exams) will have a 6 month grace period to fulfil his CMFAS exam requirements (i.e. he will only be required to complete the relevant CMFAS exams for that regulated activity by 31 October 2020).Except for the CMFAS exam requirement, FIs will still have to perform proper due diligence to ensure that the representatives fulfil all other minimum entry requirements, the FIs’ internal recruitment criteria, and are fit and proper to be appointed representatives. MAS will review the temporary relief measure, taking into consideration the evolving situation.