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New Singapore SFOs slow in 2023 amid rising regulatory scrutiny

Growth in new single-family offices (SFOs) in Singapore slowed to 300 in 2023, after the country was hit by a high-profile money laundering scandal and rivals such as Hong Kong made a bigger push into the sector. The money-laundering case last year led to increased regulatory scrutiny of the wealth management industry, including longer wait times to establish a family…

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