Compliance Toolkit for Approvals, Notifications and Other Regulatory Submissions to MAS for Fund Managers

The Monetary Authority of Singapore (MAS) published a revised version of what it calls a Compliance Toolkit for Approvals, Notifications and Other Regulatory Submissions to MAS for Fund Managers. The „toolkit“ provides guidance to managers or prospective managers of licensed and registered fund and to those managing venture capital funds on
(a) business matters for which prior approval must be sought from MAS,
(b) business matters for which notifications must be sent or submitted to MAS, and
(c) the submission of regulatory reports and documents such as the financial returns of the fund.
The guidance is in form of a reference list outlining the respective business action / requirement, the corresponding forms (if applicable) to be submitted, and the deadlines for the submission. The toolkit consists of three separate documents:
(1) The Compliance Toolkit for Licensed Fund Management Companies;
(2) The Compliance Toolkit for Registered Fund Management Companies; and
(3) The Compliance Toolkit for Venture Capital Fund Managers.
Having applied a text comparison tool, we noticed numerous modifications to the previous versions, so we do recommend to closely review the documents in their entirety. We would like to point out, however, the changes in the filing instructions, specifically the addition of instructions for filing FormSG via MAS-Tx, MAS so-called „Financial Institution (FI) transaction platform“. Furthermore, MAS outlines some features of the platform that may be quite helpful to fund managers such as e-mail reminders on due dates. MAS has also added a new column to the tables to refer to the section of MAS-Tx where the corresponding forms and submissions may be lodged.