BACKGROUND

On 29 November 2024, the Monetary Authority of Singapore (“MAS”) released an update to the Change in Particulars form for Fund Management Companies to notify MAS of any changes to their particulars or those of their directors, relevant professionals or shareholders. This form update introduces revisions to the information that fund management companies are required to report through the form. It is crucial for all fund management companies to familiarize themselves with the revised form to ensure that they submit the correct form and documents when notifying MAS of such changes.

CHANGES MADE:

1. The updated Change in Particulars form no longer includes a section for reporting changes related to the company’s Representatives. Instead, changes to the particulars of Representatives should now be submitted using Form 16 – Notification to Change Particulars for a Representative.

THINGS TO TAKE NOTE:

1. This form must be submitted within 14 days after the date of the change.

2. All official submissions must be made online via MAS-Tx.
   (The PDF specimen form on the MAS website must not be submitted to MAS.)

WHAT’S NEXT?

Given many recent updates to regulatory requirements, managements of FIs should:

1. regularly monitor MAS announcements for future revisions to the relevant documents to ensure compliance.
2. train relevant staff to stay informed about changes and submit the correct forms in a timely manner.

And more…

HOW CAN WE HELP?

Contact Us today to discuss how we can provide the risk and compliance advisory solutions for you. Find out more here.