Author: Peiying Chua Heikes

Level playing field for foreign branches and foreign related corporations

MAS’ foreign related corporation and branch exemption frameworks (“FRC/Branch Exemption Frameworks”), along with their accompanying anti-money laundering and countering the financing of terrorism notices, took effect on 9 October 2021.

The consistent application of the regulatory exemption framework to all cross-border arrangements brings about a long-sought after certainty to the industry. In this alert, we examine key aspects of the FRC/Branch Exemption Frameworks.