Regulatory Alerts2025-06-26
Added
Governance and Management of Variable Capital Companies (VCCs)
The Monetary Authority of Singapore issued this circular to outline supervisory expectations for VCC managers following a 2024 thematic review of the sector. It mandates that managers ensure independent custody arrangements, appoint licensed representatives for individuals conducting regulated activities, and wind down dormant VCCs lacking assets or investors. Additionally, managers must demonstrate substantive fund management activity and maintain robust AML/CFT controls with appropriate director oversight.
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