Requirements before A/I LFMCs can start managing funds offered by retail investors
According to MAS (FAQs)
last revised 12 October 2021
If an A/I LFMC wishes to manage funds offered to retail investors in Singapore, it may approach MAS to request a review of its licence condition. However, it should satisfy itself that it has met the admission criteria for a retail manager; these are set out in the Guidelines on Licensing, Registration and Conduct of Business for FMCs [SFA04- G05]. The A/I LFMC should also have or have plans to invest in resources and systems to handle retail investment funds. In assessing whether an A/I LFMC is ready to manage funds for retail investors, MAS considers various factors including the ability and willingness of the A/I LFMC to commit resources to handle retail funds, the quality of governance and controls implemented by the A/I LFMC, as well as the adequacy of its compliance and audit arrangements. The A/I LFMC should consult MAS early on its plans.