Tag:Singapore

1
Singapore: MAS Consults on Simplified Regulatory Framework for Fund Managers
2
Singapore: Updates to Tax Incentives for Single Family Offices
3
$2 Billion Money Laundering Case Threatens Singapore’s Reputation
4
Singapore: MAS Publishes Observations From Inspection of Venture Capital Fund Managers
5
Singapore: Financial Institution Guidance to Enhance Vigilance Over Money Laundering and Terrorism Financing

Singapore: MAS Consults on Simplified Regulatory Framework for Fund Managers

By: Edward Bennett and Ke Jia Lim

On 24 October 2023, the Monetary Authority of Singapore (MAS) issued a consultation paper on the repeal of the regulatory regime for Registered Fund Management Companies (RFMCs).

Read More

Singapore: Updates to Tax Incentives for Single Family Offices

By: Edward Bennett and Ke Jia Lim

The Monetary Authority of Singapore (MAS) has recently introduced new guidelines for Single Family Offices (SFOs) applying for tax incentives under the Section 13O and Section 13U schemes. The changes aim to expand tax incentives for family offices to promote investment in environmental and social causes.

Read More

$2 Billion Money Laundering Case Threatens Singapore’s Reputation

By: Edward Bennett and Ke Jia Lim

Singapore, known for its fiercely guarded reputation as a global financial hub and growing asset management centre, is currently entangled in one of the most substantial money laundering scandals globally, with a staggering S$2.8 billion (US$2 billion) in seized assets. Ten suspects, originally from China but residing in Singapore, face money laundering charges linked to scams and illegal online gambling.

Read More

Singapore: MAS Publishes Observations From Inspection of Venture Capital Fund Managers

By Edward Bennett and Jordan Seah

Earlier this year, selected market participants were issued a report from MAS on observations from its 2022 inspection of licensed Venture Capital Fund Managers (“VCFMs”).

Having requested that MAS publish its report more widely, the circular is now publicly available here.

Read More

Singapore: Financial Institution Guidance to Enhance Vigilance Over Money Laundering and Terrorism Financing

By Edward Bennett and Jordan Seah

The Monetary Authority of Singapore (MAS), Singapore’s central bank and financial regulatory authority, is, amongst many other things, responsible for the development of Singapore as an international financial hub.

As part of its constant drive to uphold and improve the integrity of the nation’s financial ecosystem, the MAS issued a circular in early March 2023 to remind financial institutions (FIs) on the importance of staying vigilant to money laundering and terrorism financing (ML/TF) risk, including steps FIs may take to navigate ML/TF risk inherent in the wealth management sector, including private fund management.

Read More

Copyright © 2023, K&L Gates LLP. All Rights Reserved.