Sun, Mar 1, 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. Investing - Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched, Myriad hedge fund sold bulk of its Alibaba stake last year[more]

    Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched From Valuewalk.com: As hedge fund manager Seth Klarman, leader of the $28 billion Baupost Group, reviews 2014 performance and considers investors gained near 7 percent on the year, he cons

  2. Adamas Asset Management and Ping An Insurance to co-manage $500m debt fund[more]

    Komfie Manalo, Opalesque Asia: Hong Kong-based Adamas Asset Management and Ping An Insurance Group, one of China’s largest financial institutions, have finalized a memorandum of und

  3. Opalesque Exclusive: dbSelect’s top ten FX strategies average almost 10% in January[more]

    Benedicte Gravrand, Opalesque Geneva: In one of Deutsche Asset & Wealth Management (AWM)’s hedge fund platforms, called dbSelect, a number of FX Strategies did very well in January. dbSelect is a managed investment platform for unf

  4. Opalesque Exclusive: SEC’s Mark J. Flannery warns hedge funds against valuation misconduct[more]

    Komfie Manalo, Opalesque Asia: Securities and Exchange Commission chief economist and director of Division of Economic and Risk Analysis (DERA) Mark J. Flannery has warned of the risks posed by market misconduct, particularly in the true valuation of assets by hedge fund managers. In his

  5. Dymon Asia's $3bn macro hedge fund lost 10.45% in January[more]

    From Reuters.com: Dymon Asia's $3.1 billion macro hedge fund lost 10.45 percent in January, performance data seen by Reuters showed, a month where many peers lost heavily after a surprise rise in the Swiss franc. Singapore-based Dymon, set up by Danny Yong, a former founding partner and chie