Regulatory Alerts2005-12-22
Added
Guidelines on Scope of Regulation under the Trust Companies Act
The Monetary Authority of Singapore issues these guidelines to define the scope of regulation and exemption under the Trust Companies Act 2005. The document details specific activities constituting the creation, arranging, and administration of express trusts, such as document preparation, asset management, and custodial services. It further clarifies that exempt persons may only perform procedural and non-discretionary tasks, excluding advisory roles or significant decision-making affecting the trust.
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