Frequently Asked Questions
Q1. What is an RFMC license in Singapore?
The Registered Fund Management Company (RFMC) framework previously allowed eligible fund managers to manage assets for a limited number of qualified investors under MAS regulations. New applicants now generally apply under the Licensed Fund Management Company (LFMC) regime, while existing RFMCs remain subject to MAS requirements.
Q2. Who needs an RFMC or LFMC licence in Singapore?
Fund management companies that manage investment funds or provide discretionary portfolio management services in Singapore typically require the appropriate MAS licence or registration, depending on their business model and regulatory status.
Q3. What documents are required for an RFMC or LFMC application?
Applicants generally need a business plan, compliance manual, AML/CFT policies, risk management framework, corporate information, and details of directors, shareholders, and key personnel to support the MAS application.
Q4. What are the common challenges when applying for an RFMC or LFMC licence?
Common challenges include interpreting MAS regulatory requirements, preparing comprehensive compliance documentation, hiring qualified local personnel, and responding to MAS requests during the review process.
Q5. How can RT Compliance assist with RFMC or LFMC licensing in Singapore?
RT Compliance provides end-to-end support, including pre-application advisory, documentation preparation, MAS regulatory liaison, entity setup assistance, compliance framework development, and ongoing post-licensing compliance support.
