Monday, 25 May 2015
Last updated 2 days ago
Apr 28 2010 | 8:01am ET
Singapore’s biggest hedge fund managers will have to register under new proposals to amend its fund-management regulations.
Firms managing more than S$250 million would be required to seek a capital-markets services license from the Monetary Authority of Singapore. Currently, hedge funds that manage money on behalf of 30 or fewer clients are exempted from registering with the regulator.
The MAS plans to offer two types of licenses to hedge funds: One would cover those serving accredited investors, and the other for those serving retail investors. It also plans to promulgate new rules for the former type of hedge fund manager as part of the first overhaul of the city-state’s fund management rules. Those rules were loosened eight years ago to attract hedge funds and private equity firms.
Hedge fund firms that manage S$250 million or less for 30 or fewer clients will still be exempted from the licensing rules.
In a statement, the MAS said it “remains committed to building Singapore as a fund management and alternative investment hub.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…