Regulatory Alerts2024-01-17
Added
Guidelines on Criteria for the Grant of a Trust Business Licence [TCA-G02]
The Monetary Authority of Singapore issues these guidelines to establish the admission criteria for entities seeking a licensed trust company status under the Trust Companies Act. The document mandates specific requirements regarding fit and proper criteria for key personnel, minimum capital or qualifying assets, and the maintenance of professional indemnity insurance. It further outlines the procedural steps for licensing, authorisation, and registration while defining the regulatory scope for licensed, exempt, and exempt person trust service providers.
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