Family offices to see longer wait times for SG licenses with incoming rules

Singapore’s plans for a new regulatory framework will further lengthen application approval timelines for single family offices (SFOs), as scrutiny increases and licensing exemptions are streamlined. Compliance and anti-financial crime experts said the new framework, while tougher, will weed out bad actors and in general, be welcomed by single family offices. “The application process to get a license for a single family office can now take about 18 months; two or three years ago…