The Monetary Authority of Singapore will require scheme particulars to be updated at least once a year so as to facilitate its monitoring of the fund industry in Singapore.
The Monetary Authority of Singapore (MAS) issued a revised CIS Practice Note 1/2005 - Administrative Procedures for Retail Schemes (Revised Administrative Procedures) on 16 January 2018, which may be accessed here. It is meant to facilitate the MAS’s monitoring of the fund industry.
The Revised Administrative Procedures require the offeror of a collective investment scheme (authorised and recognised schemes) to update the scheme particulars, including the total fund size, at least once a year. The update may be done as part of the annual registration of the scheme’s prospectus.
The effective date is 01 February 2018.
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