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MAS drops ex-ante approval requirement for cross-border financial services

The Monetary Authority of Singapore (MAS) is seeking to adjust the scope of exemptions, procedures, and approval requirements relating to foreign related corporations (FRCs), in order to facilitate the provision of cross-border financial services. The Singaporean regulator’s consultation on the Proposed Revisions to the Exemption Framework for Cross-Border Business Arrangements of Capital Markets Intermediaries (the FRC Framework) concludes on Thursday, 31…

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