Recent updates

Following the annual returns, at least for most external asset managers (“EAMs”), the Monetary Authority of Singapore (“MAS”) is already following up with additional surveys, such as the Survey of Services. Financial institutions should check MASNet for the respective circulars.

AML/CFT is back! In its Consultation Paper on the Proposed Amendments to Anti-Money Laundering and Countering the Financing of Terrorism Notices for Financial Institutions and Variable Capital Companies, the Monetary Authority of Singapore (“MAS”) is proposing updates to its anti-money laundering (“AML”) and countering the financing of terrorism (“CFT”) regulations. AIWM has submitted a response to the consultation.