Politics & Regulation

Singapore’s enhanced regulations for managers take effect

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Singapore’s enhanced regulatory regime for fund management companies took effect this week on August 7.

Under the new dispensation, all fund managers are now required to meet enhanced business conduct and capital requirements.

The new regulation replaces the previous exempt fund manager (EFM) regime with a new category of registered fund management companies (RFMCs), where the latter are allowed to serve up to 30 qualified investors and to manage up to S$250 million in assets under management; other FMCs are required to apply for a license.

Current exempt managers have six months to apply for a licence or to register with