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

The Monetary Authority of Singapore (MAS) has published an updated version of what it calls a Compliance Toolkit for Approvals, Notifications and Other Regulatory Submissions to MAS for REIT Managers. The „toolkit“ provides guidance to managers or prospective managers of real estate investment trusts (REITSs) on
(a) business matters for which a REIT must seek prior approval 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 REIT.
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.
Having applied a text comparison tool, we noticed numerous modifications to the previous version, so we do recommend to closely review the document in its entirety. As with the other compliance toolkits (please see EventID 19137 in this context), we would like to point out 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“ and
– the addition of instructions for filing certain other documents via the opera platform (Offers and Prospectuses Electronic Repository and Access platform).
In connection with MAS-Tx, MAS also 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 table to refer to the section of MAS-Tx where the corresponding forms and submissions may be lodged.