Regulatory Alerts2008-07-28
Added
CMI 02/2008 - Survey and Thematic Inspection of Hedge Fund Managers
The Monetary Authority of Singapore issued this circular following a 2007 survey and thematic inspection of hedge fund managers to highlight critical deficiencies in operational controls. The regulator identified significant gaps in the segregation of duties, independent compliance monitoring, and formalized risk management frameworks among inspected entities. MAS mandates that all licensed and exempt fund managers implement robust oversight processes, adopt industry best practices for valuation and disclosure, and ensure their boards maintain ultimate responsibility for compliance and risk management.
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