Singapore Amends Hedge Fund Regulations To Require Registration

Aug 9 2012 | 1:40pm ET

Asia’s second-largest hedge fund center has completed a two-year process to update its alternative investment regulations.

The city-state’s amended rules went into effect this week. The most notable change is the elimination of the exempt fund manager status in favor of a new category, registered fund management company. While current EFMs will have to now register with the Monetary Authority of Singapore, they will not require a license.

Registered managers are also limited to 30 qualified investors and S$250 million in assets. Those with more investors or more assets will need to obtain a license.

EFMs have six months to register or acquire a license.

The new rules also impose stricter business conduct and capital requirements. Licensed fund management companies will have to undergo annual independent audits and employ independent custody and valuation services.

While the impact on licensed managers is seen as small, smaller currently exempt managers may feel the new rules more. All fund managers, registered or licensed, must have two “relevant professionals” resident in Singapore, and a firm’s board of directors must have at least two members with at least five years’ experience. A firm’s CEO is also required to have five years’ experience.


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Griffin Selling Chicago Apartment

Nov 26 2014 | 11:40am ET

Citadel Investment Group’s Kenneth Griffin is making clear to his estranged wife...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.