Sat, Apr 18, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

ComplianceAsia warns on approaching MAS re-registration deadline

Tuesday, January 15, 2013

Beverly Chandler, Opalesque London: Specialist Asian compliance consulting firm ComplianceAsia has issued a client alert regarding the FMC re-registration deadline with the Monetary Authority of Singapore (MAS). The firm warns that the deadline for all exempt asset managers is looming with only three weeks left before the 6th February final date for submission. ComplianceAsia writes: "This is a critical deadline. Firms that have not submitted an application by the deadline would be acting illegally if they provided asset management services in Singapore after the deadline."

The firm notes that the numbers of exempt fund managers has remained, in their words, 'worryingly high’ with 533 exempt fund managers and only 29 registered fund management companies to date plus a few licensed accredited / institutional investor fund management companies. "This is not significantly reduced from the approximately 580 exempt fund managers prior to the introduction of the new rules. Allowing for both those new applications in progress and for the fact that the MAS takes a few days to update the publicly available list of financial institutions, there is a grave risk that MAS will be swamped with applications in the last few days of what has been a six month transitional period", ComplianceAsia warns.

"The MAS has informally commented to the industry that so far a high ......................

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. Tiger Global falls 2.9% in March, down 5.3% in Q1[more]

    From Reuters.com: Investment firm Tiger Global Management, one of the hedge fund industry's most closely watched players, told clients that its hedge fund lost 5.3 percent during the first quarter, an investor said on Wednesday. Much of the decline came in March when the fund lost 2.9 percent,

  2. It’s not just hedge funds—IMF study finds stability risks from ‘vanilla’ funds[more]

    From MarketWatch.com: Leveraged hedge funds and banklike money-market funds are the parts of the asset-management industry most associated with risks to financial stability. But a report from the International Monetary Fund suggests that “plain-vanilla” mutual funds and exchange-traded funds also ca

  3. Hedge funds gain 2.4% in Q1 driven by currency and commodity markets[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted positive results last March to conclude a strong first quarter, with performance driven by strong macro trends in currency and commodity markets, complemented by broad-based gains and positioning in event driven, equity hedge and fixed income-b

  4. Hedge funds looking to continue their rally in Q2[more]

    Komfie Manalo, Opalesque Asia: Hedge funds finished the first quarter on a strong note and are looking to continue the rally in the second quarter, said Lyxor Asset Management in its Weekly Brief. The Lyxor Hedge Fund Index is up 0.4% over the week

  5. Hedge funds down -0.17% in March (+1.23%YTD)[more]

    Bailey McCann, Opalesque New York: The hedge fund industry produced an aggregate return of –0.17% in March to end Q1 2015 up 1.23%, compared to the S&P 500 which increased 0.96%, according to the latest data from eVestment. Hedge fund performance returns were mixed in March amid increased equity

 

banner