Wednesday, 30 January 2013

Singapore: a new framework for financial holding companies

Last year the Monetary Authority of Singapore published for comment a draft of the Financial Holdings Bill, following an earlier consultation: 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). This week MAS a feedback statement containing its responses to the matters raised by those responding to the consultation: see here (pdf).

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