Definition of “business trust”
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A business trust is a business enterprise structured as a trust. A business trust (“BT”) is a business enterprise structured as a trust....
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- MAS
- Media Releases
Last revised date:
- Singapore, 11 July 2023… The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) have signed a Memorandum of Understanding (MoU) to collaborate on a Financial Transparency Corridor (FTC) initiative. The initiative aims to establish supporting digital infrastructures to facilitate trade and cross-border related financial services between small and medium-sized enterprises (SMEs) in Singapore and Cambodia. 2. Under the FTC, a Singapore financial institution, in assessing financing
- MAS
- Media Releases
Last revised date:
- These entities include companies, variable capital companies and business trusts. 2.
- We expect to share details of the proposed amendments to the Companies Act, the Variable Capital Companies Act, and the Business Trusts Act, in early 2023. 3. Listed entities will have to observe SGX’s guidance on the holding of general meetings.
- The Accounting and Corporate Regulatory Authority and the Monetary Authority of Singapore are working on legislative amendments to provide companies, variable capital companies and business trusts with the option to conduct general meetings by electronic means after the Orders are revoked.
- MAS
- Enforcement Actions
Last revised date:
- Singapore, 16 March 2020 … The Monetary Authority of Singapore (MAS) has imposed a composition penalty of $400,000 on TMF Trustees Singapore Limited (TTSL) for failure to comply with MAS’ Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements. These failures were identified following an inspection by MAS. TTSL has paid the composition penalty in full and taken prompt remedial actions. 2 MAS found that, between June 2011 to April 2018, TTSL had failed to comply
- MAS
- Media Releases
Last revised date:
- Singapore, 19 July 2004...The Monetary Authority of Singapore (MAS) today released a consultation paper on establishing a new regulatory framework for trust companies. Under the new framework, MAS will regulate trust companies in Singapore. Licensing will become mandatory for trust companies. However, there will be limited exemptions from licensing for certain entities and persons. The new framework will increase legal clarity and guidance for trust companies in Singapore. It will also ensure high
- MAS
- Speeches
Last revised date:
- Good morning! Welcome to the Singapore FinTech Festival and the Singapore Week of Innovation and TeCHnology 2020! We meet in extraordinary circumstances. COVID-19 has taken more than a million lives and disrupted the global economy. Across the world, technology and innovation played a crucial role in helping peoples and businesses respond to the crisis. Similarly, they will prove critical in curtailing the pandemic and boosting economic recovery. COVID-19 has made us reassess what the global future
- MAS
- Speeches
Last revised date:
- Distinguished guests, ladies and gentlemen Introduction 1 Good afternoon. I am delighted to join you today and congratulate the Institute of Banking & Finance (IBF) on the launch of the Financial Planning Competency Standards. Opportunities for financial advisers 2 The new IBF standards come at a time of opportunity for the financial advisory industry. 3 With greater financial awareness, Singaporeans are becoming more active in planning for their financial future. They will benefit from help
- MAS
- Speeches
Last revised date:
- Ladies and gentlemen, good morning. And to all our foreign guests, welcome to Singapore. I am delighted that R3 is holding CordaDay 2019 in Singapore. We have representatives from almost a hundred of the world’s largest financial institutions and corporates gathered here today. I guess if it is a conference about blockchains, nobody wants to miss out. A Much Misunderstood Technology The blockchain is one of the most misunderstood technologies in recent times. The first misconception about the blockchain
- MAS
- Speeches
Last revised date:
- Good morning, and welcome to Day 2 of the Singapore FinTech Festival. It’s great to be able to meet in person after three long years. Pandemic and lockdowns notwithstanding, FinTech innovation has marched on briskly. If anything, digitalisation has gathered pace and become more pervasive. Yes, in the realm of a crypto assets, a harsh winter has set in, even fears of an Ice Age. But I believe it is an overdue cleansing of unsustainable business models, highly risky practices, and unviable use cases
- MAS
- Annual Reports
Last revised date:
- To add depth and vibrancy to Singapores capital markets, we introduced new Business Trusts Act to regulate business trusts as a new business structure.
- NEW REGULATIONS Introducing a Regulatory Framework for Business Trusts and Trust Companies MAS introduced a framework to regulate business trusts (BTs) under the Business Trusts Act. The Act was passed in Parliament in September 2004 and came into effect in January 2005.
- The introduction of the BT structure in Singapore creates a new asset class for investors and adds more depth and sophistication to Singapore's capital markets.
- MAS
- Consultations
Last revised date:
- This consultation sets out MAS’ proposed regulations relating to anti-money laundering and countering the financing of terrorism, applicable to variable capital companies incorporated under the Variable Capital Companies Act. Response VIEW DOCUMENT Response to Feedback received on AMLCFT Notice for VCCs (811.7 KB) Consultation Paper VIEW DOCUMENT Consultation Paper on the Proposed AML/CFT Notice for Variable Capital Companies (711.6 KB) RESPONSE TO FEEDBACK RECEIVED 15 January 2020 Proposed