Consultation Paper on the Proposed Framework for Variable Capital Companies has been saved
Consultation Paper on the Proposed Framework for Variable Capital Companies
On 30 April 2019, MAS released a consultation paper on the proposed new regulations for the Variable Capital Company (VCC) framework. This includes amendments to existing rules and regulations that will operationalise the new regime.
The framework aims to broaden the range of fund structures and available products in Singapore, thereby promoting its position as a full-service international fund management centre.
This Consultation Paper is part of the MAS strategy of growing Singapore as an asset management and private banking hub. Additionally, further guidance on AML/CFT requirements and insolvency is expected to be released later in 2019 to strengthen and harmonize this new regime.
In this report, we provide summaries of amendments proposed in the paper.