APAC Asset Management Regulatory Review: H1 2026 Update
The regulatory landscape continues to evolve rapidly across APAC, with new requirements, supervisory expectations and consultation outcomes impacting asset managers, fund managers, family offices and other regulated financial institutions.
Our H1 2026 APAC Asset Management Regulatory Review examines the most significant developments from the Monetary Authority of Singapore (MAS) and the Securities and Futures Commission (SFC), helping firms understand emerging obligations, assess potential impacts and prepare for future regulatory change.
Download the H1 2026 APAC Asset Management Regulatory Review
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Executive Summary
The first half of 2026 was marked by significant regulatory activity across both Singapore and Hong Kong.
In Singapore, MAS advanced major initiatives covering operational resilience, third-party risk management, AI governance, climate risk management, supervisory reporting and liquidity risk management. These developments signal a continued shift towards more robust governance frameworks, increased data reporting obligations, enhanced oversight of technology and service providers, and greater accountability for firms managing emerging risks.
In Hong Kong, regulators continued to expand and refine the virtual asset ecosystem while introducing tax and family office reforms designed to strengthen Hong Kong’s competitiveness as a global asset management hub. The SFC also increased its focus on cybersecurity, governance, conduct and enforcement.
For asset managers operating across APAC, these developments present both compliance challenges and strategic considerations that require proactive planning.
Why This Matters
Regulators across Asia are increasingly focused on operational resilience, governance, technology risk, third-party relationships, digital assets and AI.
The pace of regulatory change means firms can no longer view compliance as a standalone function. Regulatory developments now affect operating models, technology investment decisions, outsourcing arrangements, board governance, investment processes and risk management frameworks.
Firms that proactively evaluate regulatory developments and assess potential impacts early are often better positioned to respond to supervisory expectations, reduce implementation challenges and strengthen operational resilience.
This report provides a practical overview of the key developments shaping the regulatory environment for asset managers across Singapore and Hong Kong.
Top Regulatory Developments Asset Managers Should Be Monitoring
MAS released significant consultation papers covering Third-Party Risk Management (TPRM), Operational Risk Management (ORM) and Technology Risk Management (TRM), signalling a major shift in Singapore’s operational risk framework. Asset managers should assess governance frameworks, outsourcing arrangements, operational resilience programmes and technology controls in preparation for future implementation requirements.
MAS published its AI Risk Management Toolkit and continues to advance expectations around AI governance, inventories, risk assessments, oversight frameworks and third-party AI management. Firms using AI-powered solutions should assess whether their governance and risk management frameworks are ready for closer regulatory scrutiny.
MAS Transition Planning Guidelines reinforce expectations for firms to integrate environmental and climate-related risks into governance structures, investment processes, risk management frameworks and strategic planning. Asset managers should review how climate risk is reflected in decision-making, reporting and ongoing monitoring.
Hong Kong continued to expand its regulatory framework covering virtual assets, tokenised products and stablecoins, including licensing proposals, tokenised fund trading initiatives and broader ecosystem developments. Asset managers with digital asset exposure or future tokenisation strategies should monitor how the framework evolves.
Both MAS and the SFC have reinforced expectations around governance, valuation practices, oversight controls, conduct standards and risk management. Recent information papers, circulars and enforcement actions provide insight into areas likely to attract increased supervisory attention during future reviews and inspections.
Key Questions the Report Helps Answer
The report is designed to help firms identify the regulatory developments most relevant to their business, understand potential compliance implications and prepare for upcoming supervisory expectations across Singapore and Hong Kong, including:
- Which MAS developments should asset managers be prioritising in 2026?
- How are expectations around operational resilience, third-party risk and technology risk evolving in Singapore?
- What do firms need to consider around AI governance, climate risk and liquidity risk management?
- How are Hong Kong’s virtual asset, tokenisation, stablecoin and family office frameworks evolving?
- Where are regulators likely to focus during future inspections and supervisory reviews?
Download the full report for deeper analysis, practical considerations and priority actions across each of these areas.
Who Should Read This Report?
This report is designed for asset management and financial services professionals responsible for monitoring regulatory change, strengthening governance frameworks and preparing for supervisory expectations across Singapore, Hong Kong and APAC, including:
- Asset managers, fund managers and hedge fund managers
- Family offices and private credit managers
- Compliance, legal and regulatory teams
- Risk, governance and operational resilience professionals
- Senior leaders overseeing APAC regulatory strategy and operating models.
How Waystone Supports Asset Managers
Waystone provides compliance solutions to asset managers and financial services firms across Singapore and Hong Kong markets, helping clients align investment strategies, operating models and compliance programmes with an evolving regulatory environment.
To learn more about how Waystone can support your regulatory and compliance needs, please reach out to your usual Waystone representative or contact our APAC Compliance Solutions team below.