MAS engaging Chocolate Finance to ensure orderly customer withdrawals
The company says that all customers’ investment funds are securely held in ‘segregated, ringfenced accounts’
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SINGAPORE] The Monetary Authority of Singapore (MAS) said on Wednesday (Mar 12) that it continues to engage Singapore-based financial services firm Chocolate Finance “to ensure that all customer withdrawals will be met in an orderly fashion”.
This follows a joint statement by Chocolate Finance and global fund distribution platform Allfunds that reaffirmed the security of Chocolate Finance customers’ fund holdings, as well as “the continued orderly processing of withdrawals”.
Both parties confirmed that withdrawals are being processed “as expected”, in line with standard industry practices.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
S-E Asia tourism takes hit from Middle East crisis, but intra-regional travel could spell hope
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
