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Just where FRC plans include solution credit or the supply of custodial work

the Singapore thing should registered or authorized to manage in capital areas products for the same training of equipment that the FRC intends to offer merchandise money or custodial business within the agreement.

The reply clarifies that while MAS adopts a facilitative manner of FRC agreements, it’s not at all MAS’ motive to allow for the establishment of people in Singapore which can be shell organizations or which have less businesses appeal, or preparations that would challenge regulatory stability or cause a risk to economic reliability and industry self-confidence.

Regulating condition of FRCs

Having thought to be feedback got concerning proposal from inside the Consultation papers that FRCs feel registered or sanctioned in their own personal district in respect regarding the tasks as done beneath placement, MAS enjoys revised this suggested prerequisite to present that FRCs have to be accredited, sanctioned, regulated or monitored by a regulatory body within the mysterious jurisdiction the spot that the FRC is running from.