The Monetary Authority of Singapore (“MAS”) did not publish any material regulatory updates in February 2025. External asset managers may thus focus on their regular operations, including compliance activities.

That said, the MAS announced an update to the licence conditions for holders of a capital markets services (“CMS”) licence, including licenced fund management companies restricted to servicing qualified investors, namely accredited investors and institutional investors, (“A/I LFMCs”) in a circular. However, this update has no effective impact. In the first amendment to the licence conditions, the MAS will replace the explicit requirement to obtain prior approval or notify the MAS of changes in shareholders, as applicable, with a reference to the respective regulations. The second amendment deletes the explicit requirement to notify the MAS of specified adverse events. However, the requirement will remain under the Securities and Futures (Licensing and Conduct of Business) Regulations.

Many fund management companies have been requested to complete the 2024 Asset Management Survey. You should check in MASNET to see if your company is required to do so and, if so, by what date.