Regulatory Alerts2021-10-07
Added
Guidelines on Licence Application and Payment of Fees [TCA-G01]
The Monetary Authority of Singapore issues these guidelines to establish administrative procedures for trust companies applying for licences under the Trust Companies Act. The document mandates the submission of specific forms and outlines fee structures, including a non-refundable $1,000 application fee and a $4,000 annual licence fee payable via GIRO. It further specifies that late payments incur daily penalties of up to $100, capped at $3,000, to ensure consistent processing and compliance.
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