Singapore: Monetary Authority responds to feedback received
in short On 6 November 2024, the Monetary Authority of Singapore (MAS) published its response to feedback on the July 2023 consultation paper setting out a proposed regulatory framework for single-family offices (SFOs) operating in Singapore. SFOs are not required to obtain a license under the Securities and Futures Act 2001 (SFA) and the proposals aim to harmonize standards for a simplified class exemption regime and address potential money laundering (ML) risks posed by SFOs. You can access our previous reminders about consultations here. MAS will provide further details on the implementation effective date, the revised legislation and the means of submitting initial notifications and annual returns prior to the implementation of the SFO framework. The MAS has provided further details and clarification on key measures to be implemented under the SFO framework. These further details and instructions appear below in red font: MAS proposes to provide a one-year transition period from the date when the proposed SFO framework comes…
F1: FIA responds to front wing flexible wing issue, all teams say
Formula One's governing body the FIA has responded to concerns about the flexible front wings on McLaren and Mercedes cars by saying all teams are complying with current regulations. The FIA has confirmed that all Formula 1 front wings for 2024 have passed rigorous testing and are in compliance with regulations. This comes after Ferrari and Red Bull expressed concerns about the front wing designs of McLaren and Mercedes after the Italian Grand Prix. Since the Belgian Grand Prix, the FIA has been using advanced cameras to monitor front wing movement and assess the effectiveness of current bending tests. The aim is to determine whether these tests are sufficient or need to be improved. The FIA has made it clear that their main goal is to collect data, not to punish teams. They are focused on maintaining the integrity of the sport and ensuring fair competition. F1: What does the FIA say? As part of Technical Directive 034G, the FIA…
Explore the latest exhibition information and industry trends at ASAP Expo Magazine. Your one-stop platform, bringing together global exhibition highlights, industry trends and in-depth analysis, to help companies accurately connect with the market and seize business opportunities.
