MAS scrutinises some VCC managers after review finds potential regulatory lapses

[SINGAPORE] The Monetary Authority of Singapore (MAS) is looking more closely into certain variable capital companies (VCC) managers, after its review found potential lapses in regulatory compliance.

Following its thematic review of VCCs and their managers in 2024, the central bank said it is engaging with specific managers to determine whether supervisory interventions or regulatory actions may be warranted.

Despite the potential lapses, industry players noted that Singapore’s fund management industry remains robust, with a majority of VCCs and their managers complying with regulatory requirements.