Politics & Regulation

Singapore’s enhanced regulations for managers take effect

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Singapore’s enhanced regulatory regime for fund management companies came into effect on 7 August. Under the new dispensation, all fund managers are now required to meet enhanced business conduct and capital requirements.

The 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 licence.

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