Foreign Branches of Singapore FIs May Offer Cross-Border Services under a Business Arrangement Subject to Ex-Post Notification
By EsqSocial Corporation 02/04/21
The Monetary Authority of Singapore (MAS) has proposed allowing foreign head offices and other branch offices (collectively, foreign branches) of financial institutions in Singapore (Singapore FIs) to provide cross-border financial services under an arrangement with Singapore FIs forming part of the same legal entity to customers in Singapore by a system of ex-post notification. This proposal was set out in its Consultation Paper on Proposed Exemption Framework for Cross-Border Business...
By: Allen & Overy LLP