Mon, Apr 27, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Singapore seeks to strengthen rules for fund management industry

Wednesday, May 09, 2012

From Komfie Manalo, Opalesque Asia: The Monetary Authority of Singapore (MAS) is seeking to strengthen its fund management industry through the implementation more internal control of the current and future players, reported Laven Partners, a global consulting firm focused on the alternative investment industry.

In an emailed statement, Laven said it had met with MAS officials last month and discussed the new rules set for implementation in the middle of this year.

"Under the existing regime, companies conducting fund management activities in Singapore must either hold a Capital Market Services license, or be exempted from the same. Fund management companies or FMCs who notify the MAS that they are not servicing more than 30 qualified investors may be exempted from licensing if they meet the exemption criteria. FMCs dealing with more than 30 qualified investors are however currently required to hold a CMS license," the report said.

The Monetary Authority proposes to divide the regulatory regime for fund managers into three categories:

1. Registered Fund Management Companies: FMCs whose AuM do not exceed S$250m and who serve no more than 30 qualified investors, of which no more than 15 are funds, will be categorised as Registered Fund Management Companies. The underlying investors of such funds will nevertheless have to be accredited investors. The Registered FMCs will be permitted to commence......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

  4. Update: Wall Street has strong feelings about Jon Corzine trying to make a comeback[more]

    From Businessinsider.com.au: Former New Jersey Governor Jon Corzine is thinking about starting his own hedge fund, according to the Wall Street Journal, and because of the way his last firm imploded, Wall Street has strong feelings about that. “Truth is the larger seeders would never give him money

  5. Opalesque Exclusive: Cybersecurity and hedge funds - A manager’s experience, Part Four[more]

    Benedicte Gravrand, Opalesque Geneva: Ruane, Cunniff and Goldfarb, Inc. used to have their own IT infrastructure. Todd Ruoff, Executive Vice President in charge of trading, operations and technology, was responsible for its maintenance. Then he started looking at outsourced providers a couple of

 

banner