Tag:Singapore

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Singapore: MAS Publishes Observations From Inspection of Venture Capital Fund Managers
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Singapore: Financial Institution Guidance to Enhance Vigilance Over Money Laundering and Terrorism Financing

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.

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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.

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