Singapore anti-money laundering rules to raise bar for family offices

Singapore has in the past two years attracted hundreds of single-family offices (SFOs) as it has offered a safe haven for the assets of rich-but-jittery mainland Chinese and other wealthy individual investors. The city-state’s largesse when it comes to tax breaks and other attractive incentives has contributed to that influx. The Monetary Authority of Singapore’s (MAS’s) most recent response to the explosive growth of the SFO sector, unveiled at the end of last month, is a set o…