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Singapore's new family office rules to raise costs, reporting requirements

Padraic Convery
The Monetary Authority’s proposed anti-money laundering framework for single-family offices has been interpreted as ambiguous in some respects, and too prescriptive in others.
Singapore's new family office rules to raise costs, reporting requirements

The Monetary Authority of Singapore’s (MAS) proposed anti-money laundering (AML) rules for single-family offices (SFOs), part of an effort to institutionalise the sector, have mostly been welcomed — although specific elements of the planned regulatory framework have prompted questions and concerns.

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