CRS Update

We are delighted to announce that the AIAM has made new headways at a recently concluded dialogue session with the Monetary Authority of Singapore (MAS).

The MAS team has reviewed over 500 responses to the CRS consultation paper, and actively taken on board several feedback points namely;

1. CRS reporting for Discretionary managed accounts 
– To simplify reporting obligations in Singapore, MAS shared that they would be issuing guidance to SG FIs.

2. CRS registration and reporting for EAMs
– There would be a special carve-out in Singapore CRS regulations and MAS will notify accordingly once it is released.

3. KYC and AML checks
– MAS sought to establish which FIs were responsible for KYC and AML checks on end investors, as well as beneficial owners of accounts.

Regulatory updates over lunch 
Please join us at a luncheon session to get full details on the above. Ordinary Members and interested Associate Members are welcome to join.

Programme
11:45 > Registration
12:00 > Introduction by Anthonia Hui (AIAM Compliance)
12:15 > A practical approach to CRS by Michael VELTEN (Partner at Deloitte)
13:00 > Overview of the Indonesian Tax Amnesty by Michael VELTEN (Partner at Deloitte)
13:10 > Q&A over Lunch