Audit regulations for Fund Management Companies

How often must a fund management company file financial returns with MAS?


  • For FMCs that are capital market services license holder (ie A/I LFMCs and retail LFMCs) the following must be submitted quarterly and annually respectively:

    According to MAS (Compliance Toolkit),
    last revised on March 2022

    Section C: Regulatory Submissions to MAS

    S/N Requirement Form to be Submitted  Regulatory Deadline Mode of Submission Legislative Reference
    35 To submit quarterly financial returns

    Form 1 - Statement of Assets and Liabilities
    Form 2 - Statement of Financial Resources, Total Risk Requirement and Aggregate Indebtedness

    Within 14 days from the end of each quarter MASNET  Regulation 27 of the FMR
    36 To submit audited annual financial returns and auditor’s report

    Form 1 - Statement of Assets and Liabilities
    Form 2 - Statement of Financial Resources, Total Risk Requirement and Aggregate Indebtedness
    Form 3 - Statement related to the Accounts of a Holder of a CMS Licence
    Form 4 - Statement relating to the Accounts of a Holder of a CMS Licence – Supplementary Information
    Form 5 - Auditor’s Report - For a Holder of a CMS Licence
    Form 6 - Auditor’s Certification - For a Holder of a CMS Licence
    Audited Profit and Loss Account and Balance Sheet made up to the last day of the financial year, together with an Auditor’s report, including Management Letter (if any)

    Within 5 months from the end of the financial year Forms 1 to 4: MASNET
    Forms 5 and 6, and auditor’s report via the link: https://go.g ov.sg/ cmslannualr eturns 
    Section 107 of the SFA and Regulation 27 of the FMR

    For RFMCs, the following must be submitted annually:
    According to MAS (Compliance Toolkit),
    last revised on 30 November 2021

    Section C: Regulatory submissions to MAS

    S/N Requirement  Form to be Submitted  Regulatory Deadline Mode of Submission Legislative Reference
    9 To submit an annual declaration on changes to key appointments, AUM, investor types and numbers, fund types, and deals Form 25A – Annual Declaration by a Registered Fund Management Company or a Venture Capital Fund Manager Within 1 month after financial year end CeL Regulation 14(6) of the LCBR and Paragraph 5(7I) of the Second Schedule to the LCBR
    10 To submit audited annual financial returns and auditor’s report Form 25B – Auditor’s Report for a Registered Fund Management Company Audited Profit and Loss Account and Balance Sheet made up to the last day of the financial year, together with an Auditor’s report, including Management Letter (if any) No later than 5 months after the financial year end CeL Paragraphs 5(7I) of the Second Schedule to the LCBR

     

    According to the MAS Compliance Toolkit for VCFMs (last revised on July 2021), for VCFMs there are no regular financial returns that must be filed with MAS.