Fund | Judiciary.org

MAS to Singapore Fund Managers: You Better See What Is Happening with the VCC!

Summary: This blog is an insight into a circular issued by the Monetary Authority of Singapore on June 26, 2025, and addressed to chief executive officers of fund management entities in Singapore. Upon its release, it had caused a flutter among some fund management entities regarding the implications and intent behind the circular. We take a closer look at what it entails.

Introduction

Our previous blog [A variable capital “company”, or “fund”? | Private Client] was about the Variable Capital … Read the rest

Civil Law

UK FCA Letter Expresses Concerns About Fund Service Providers

In late 2024, the United Kingdom’s Financial Conduct Authority (FCA) published a “Dear CEO” letter related to the FCA’s “Custody and Fund Services Supervision Strategy.” The letter shares the FCA’s expectations of UK FCA-authorised firms that act as custodians, depositories, and administrators in the funds sector. Importantly the letter also highlights some of the regulatory risks and topics fund managers should be reviewing as part of their due diligence before selecting service providers for their funds, irrespective of whether the … Read the rest

Civil Law

The in duplum rule does not apply to late payment interest on arrear pension fund contributions owed by participating employers

Since 2020, most retirement funds have been faced with a situation where participating employers have failed to comply with section 13A of the Pension Funds Act, 1956 (PFA), by either underpaying employer or member contributions or not paying at all. The non-payment of contributions attracts late payment interest in terms of section 13(7) of the PFA.

It is against this background that the Financial Sector Conduct Authority (FSCA) repealed Regulation 33, which governed payment of pension fund contributions and … Read the rest