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Singapore P2P Lending Platform Licence | Pre-licensing Assessment | CMSL Application Management | Post-licensing Risk and Compliance Support for MAS regulated P2P Lending Platforms

We offer a comprehensive set of solutions to help you obtain and maintain a Singaporean Capital Markets Services Licence (CMSL) for P2P lending platforms tailored to:

Your business goals and objectives
Your client demographics
Your countries of operation
The size of your business
The available human and technology resources
Your risk appetite
Your governance structure
The products that you offer
Monetary Authority of Singapore (MAS) Regulated P2P Lending Platforms' Obligations covering risk and compliance management under the Securities and Futures Act (SFA), specific licensing requirements for Singaporean P2P lending regime, as well as the local AML/CFT laws, privacy laws, consumer protection laws, and more

We have designed our regulatory licensing solutions to help you navigate the complexities of the Singaporean P2P lending licensing regime in a commercially oriented and goal-focused manner, providing effective support for all stages of the P2P lending platforms’ licensing process, including but not limited to the following aspects:

Singaporean P2P Lending Platforms' Licensing Guidance: Advising on a wide range of aspects associated with P2P lending platforms' licensing as it relates to your specific situation
Pre-licensing assessment: Covering compliance gap analysis as well as risk and compliance assessment
Pre-licensing support:

Drafting the necessary policies and procedures to help you comply with the Singapore P2P lending platform licence conditions and the local financial markets' regulations
Developing internal controls to help you meet your obligations under the Singaporean P2P lending licensing regime

P2P Lending Platform’s CMSL Application Support: Covering the entire licensing process
Post-licensing Support: Covering

Ongoing compliance advice
Comprehensive second-line risk and compliance support, including leading the implementation of your risk management framework (RMF), compliance management framework (CMF), compliance monitoring program (CMP), compliance calendar and checklist, ongoing risk assessments, internal and external reporting, outsourced providers' management, and more
AML/CFT advice
AML/CFT compliance management
Compliance assurance solutions, including compliance assurance program (CAP) development, implementation, and internal control testing.

Service Coverage

This page is about Singapore P2P lending licensing solutions. This page is about the Singaporean Capital Markets Services Licence (CMSL) for Singaporean P2P lending platforms. In Singapore, the P2P lending platforms and services are generally required to hold a CMSL issued by the Monetary Authority of Singapore (MAS). This licence authorises them to operate a P2P lending service to both retail and institutional and non-retail customers.

We offer comprehensive support for a wide range of Singaporean P2P lending platform licence applications tailored to meet the specific needs of the following businesses:

Lending-Based Peer-to-Peer Platforms
Real Estate P2P Lending Platforms
Debt P2P Lending Platforms
Microfinance P2P Lending Platforms
Community-Based P2P Lending Platforms

You can find more information about our Singaporean P2P lending platforms’ licensing solutions below:

Singaporean P2P Lending Platform’s Licensing Preparation

Pre-licensing Compliance Assurance

Our Singapore P2P lending platform licence solutions cover the following focus areas:

Compliance Goals Analysis: We review your business-specific goals and resources against the suitability criteria for a Singapore P2P lending platform licence
Initial Consultation: We provide guidance on potential risk and compliance issues that may arise during the Singaporean P2P lending platform's licensing process
Choosing the Right Jurisdiction: We assist in evaluating regulatory, risk, and compliance environments to determine the most suitable jurisdictions for your Singapore P2P lending platform licence, tailored to suit your:

business objectives,
operational capacity,
client base,
markets of operations,
and other relevant factors

Gap Analysis: We identify gaps between your existing operations and regulatory requirements and help you align them in a commercially oriented manner
Singaporean P2P Lending Platform Licence Application Plan: We help you establish a roadmap to effectively meet the CMSL requirements for P2P lending platforms.

Singapore P2P Lending Platform Licence Guidance

Selecting the right compliance model is crucial not only for navigating the licensing process but also for maintaining ongoing compliance and avoiding potential breaches. Our Singaporean p2p lending platforms’ licensing solution covers:

Compliance Model Selection: To help you best comply with the Singaporean P2P lending licensing regime and related risk and compliance obligations.
Corporate Governance Model Selection: We offer practical guidance on establishing effective corporate governance practices that support your risk and compliance oversight.
Operations Model Advisory: We advise you on optimising your operational and governance models to help you efficiently comply with the licensing requirements for Singaporean P2P lending platforms and other applicable P2P lending platforms' obligations, keeping in mind your specific circumstances, available resources and business goals.

Entering the MAS Regulated Licensing Environment

We help businesses transition from an unregulated environment to operating under the Singaporean P2P lending licensing regime, helping them meet their obligations as a CMSL holder.

We also assist already regulated businesses in aligning their existing risk and compliance management structures with the Singaporean P2P lending licensing regime requirements. Our focus areas for this service include:

New businesses
Existing P2P lending platforms operating in unregulated markets
Singaporean P2P lending platforms expanding into foreign jurisdictions
Financial institutions and/or service providers with established risk and compliance frameworks that want to introduce a regulated P2P lending service as a new product.

Multi-Jurisdictional Compliance

With years of experience managing risk and compliance obligations for businesses operating under multiple financial licences across various jurisdictions, we help businesses remain compliant with P2P lending platforms’ obligations globally.

Singapore P2P Lending Platform Licence and Wholesale Markets

Obtaining a retail Singapore P2P lending platform licence may not always be necessary or commercially viable, particularly where retail market expansion is not part of your strategy. Operating in the wholesale environment may offer a more suitable alternative. We offer a range of risk and compliance management solutions tailored for P2P lending platforms that:

Operate in the wholesale markets
Offer services to accredited, institutional, or expert investors
Operate under exemptions from the Singaporean P2P lending licensing regime (e.g. serving only accredited investors or institutional investors under available licensing exemptions)

For the latter category, we help them comply with the regulatory compliance obligations that are not captured under the Singaporean licensing requirements, but that still must be addressed, including:

Advertisement Rules
Fair Dealing Guidelines (under MAS Notice and Guidelines on Fair Dealing)
Risk Management
Oversight of Outsourced Providers
Restrictions on offering services to retail investors (an integral part of the CMSL regime)
Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) laws and regulations
Data Protection and Management obligations (including PDPA requirements)

P2P Lending Platform’s CMSL Application

Full Singapore P2P lending CMS application management, covering submission handling, regulator liaison, and issue resolution. We help you navigate the Singapore P2P lending licensing regime, meet CMS licence criteria, and demonstrate compliance with MAS regulated P2P lending platforms’ obligations under Singapore’s financial regulations. We assist with your CMSL application through ongoing engagement in the Singaporean P2P lending platforms’ licensing process:

Document Compilation and Review: We compile and review all required supporting documents to support your Singaporean P2P lending platform licence application.
Application Form Completion: We assist you in completing the forms to ensure all material information is accurate and complete.
Pre-Submission Review: We can arrange a pre-submission review session with key stakeholders to ensure all parts of your application are understood and agreed upon. This session aligns application details with the actual situation, removing ambiguity.
Regulatory Liaison: We manage the end-to-end submission process, maintaining clear and effective communication channels throughout the Singaporean P2P lending platforms' licensing.
Timeline Management: We closely monitor and adhere to all necessary deadlines, providing timely updates and adjustments to keep the application process on track.

Resolving Singapore P2P Lending Platform Licence Issues

Having competent compliance advisors is crucial when licensing issues arise. Therefore, our P2P lending platform's licence solutions include a range of services to address and resolve these issues effectively:

Remediation Solutions for Singapore P2P Lending Platform Licence Applicants: We address and remediate risk and compliance issues identified by regulators, helping your operations align with Singaporean P2P lending licensing regime requirements.
Specific Licence Conditions Compliance: We can help you manage additional conditions imposed on your P2P lending platform licence, developing a tailored action plan to maintain compliance and facilitate the eventual removal of these conditions with minimal disruption to your business operations.
Licensing Issues Handling: We address common licensing issues encountered during the P2P lending platforms' licensing process, providing you with solutions to navigate and resolve these challenges efficiently.
Further Information: You can visit our Compliance Remediation Solutions page for more information.

Post-Licensing Support

Post-licensing compliance and risk solutions for the Singapore P2P lending licensing regime and MAS regulated P2P lending platforms’ obligations. Tailored services include licence renewal, remediation management, ongoing compliance support, and operational risk oversight, enabling your business to maintain its Singapore P2P lending platform licence effectively. We offer a full range of ongoing risk and compliance solutions for MAS regulated P2P lending platforms. Our services include, but are not limited to:

Ongoing Risk and Regulatory Compliance

MAS Regulated P2P Lending Platforms' Obligations Guidance: We can advise your risk, compliance, management and other teams on meeting the requirements of the Singaporean P2P lending licensing regime and other regulatory compliance obligations. You can visit our Compliance Consultancy Service page for more information.
Regulatory Risk and Compliance Management: We provide dedicated compliance managers to manage your overall compliance. For more information, visit our Specialised Compliance Management Solutions page for P2P lending platforms.
Compliance Assurance Solutions: As part of our compliance assurance solutions, we offer:
Compliance Assurance Program (CAP) development and testing options
Internal Controls Design option
Internal Controls Testing option
Internal AML/CFT Review option
Statutory AML/CFT Audit option
Compliance Training Solutions: We offer training programs to different teams on complying with:
MAS Regulated P2P lending platforms’ obligations for risk, regulatory compliance management, and P2P lending regulations. You can visit our Compliance Training page for more information.
MAS Regulated P2P lending platforms’ AML/CFT obligations and operational best practices for fraud prevention. You can visit our AML/CFT Training page for more information.
Crisis Management Planning: We can develop proactive strategies to manage potential compliance crises effectively.
Anti-Money Laundering (AML) and Counter Terrorist Financing Solutions: We provide a full range of AML/CFT solutions for MAS Regulated P2P lending platforms. For more information, visit our Specialised AML/CFT Solutions page for P2P Lending Platforms.
Advanced Compliance Technologies: We can assist you with selecting and integrating advanced technology solutions, such as compliance automation tools and regulatory technology (RegTech), to streamline compliance processes without disrupting operations.
Risk and Compliance Framework Adjustments: Including adjustments to risk management frameworks (RMFs), compliance monitoring programs (CMPs), compliance management frameworks (CMFs), and other core procedures and policies to align them with:
new business goals
regulatory changes
changes in your operations
evolving market conditions
changes in stakeholders’ risk appetites (your banking partners, insurance companies, liquidity providers, etc.).