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ARTICLE · 08 NOVEMBER 2023

MAS Consults On Simplified Regulatory Framework For Fund Managers

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On 24 October 2023, the Monetary Authority of Singapore (MAS) issued a consultation paper on the repeal of the regulatory regime for Registered Fund Management Companies (RFMCs).

SingaporeFinance and Banking
Edward Bennett
Edward Bennett
Ke Jia Lim
Ke Jia Lim

On 24 October 2023, the Monetary Authority of Singapore (MAS) issued a consultation paper on the repeal of the regulatory regime for Registered Fund Management Companies (RFMCs).

MAS considers that the RFMC regime, which was introduced in 2012 to facilitate the transition of exempted fund managers at that time, has outlived its purpose. MAS believes that a simplified regulatory framework with harmonised requirements for all fund managers will support sustainable growth in the longer term.

Under the proposal, the existing RFMC regime will be repealed, and existing RFMCs can transition to become Accredited/Institutional Licensed Fund Management Companies1 (LFMCs) by applying for a Capital Markets Services (CMS) license for fund management. Key details include:

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