The RFMC regime has been officially repealed by MAS, with all fund managers now transitioning to the A/I LFMC framework. The change streamlines regulatory oversight and supports Singapore’s growth as a trusted global fund management centre.
Singapore continues to strengthen its position as a global trading hub through initiatives that streamline export processes and boost trade competitiveness. With steady growth in non-oil domestic exports and strong demand for electronics and petrochemicals, government frameworks like TradeFIRST help businesses reduce costs, improve efficiency, and expand internationally.
Singapore is rapidly emerging as one of Asia’s leading hedge fund hubs, rivaling Hong Kong. With government incentives, a favourable regulatory environment, and the introduction of the Variable Capital Company (VCC) structure, Singapore has attracted global fund managers seeking efficiency and stability. As more hedge funds set up locally, total assets under management have surged, solidifying Singapore’s position as a premier destination for fund management in Asia.
The Monetary Authority of Singapore (MAS) regulates all payment service providers under the Payment Services Act (PSA). This unified licensing framework covers key activities such as e-money issuance, money transfer, and digital payment token services, ensuring safe and compliant operations within Singapore’s growing FinTech ecosystem.
Singapore’s well-developed infrastructure, political stability and sustainable economic growth are factors attracting inflows of foreign direct investment. This eventually results in a higher demand for capital market services (CMS). Singapore’s financial institutions (FIs) need to hold a CMS licence to conduct regulated business activities under the Securities and Futures Act (SFA).
To curb the proliferation of weapons of mass destruction (WMD), Singapore enforces strict export controls under the Strategic Goods (Control) Act (SGCA). The Act regulates the transfer, export, and brokering of strategic and dual-use goods to safeguard the global supply chain. In a recent enforcement case published by Singapore Customs, a company and its director were fined over S$250,000 for exporting strategic goods without a permit and submitting false declarations. Businesses are urged to implement strong internal controls and accurate trade declarations to ensure compliance and avoid severe penalties.
