The Singapore Monetary Authority has published for comment a draft of the Financial Holdings Bill, following a consultation earlier this year: see here (pdf). The purpose of the Bill is to introduce a new regulatory framework for financial holding companies (i.e., companies that have a bank or an insurance company as a subsidiary but which do not undertake such activities or other commercial activities).
Thursday, 8 November 2012
Singapore: a regulatory framework for financial holding companies
The Singapore Monetary Authority has published for comment a draft of the Financial Holdings Bill, following a consultation earlier this year: see here (pdf). The purpose of the Bill is to introduce a new regulatory framework for financial holding companies (i.e., companies that have a bank or an insurance company as a subsidiary but which do not undertake such activities or other commercial activities).
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