Licensing - Waystone

      Licensing

      Our team has a deep understanding of the rules, guidelines and processes in relation to obtaining licences and registrations. We follow the process meticulously and assist clients from initial business set up to maintaining all ongoing regulated activities.

      We advise and guide financial institutions such as fund managers, financial advisers, insurance brokers, trust managers and payment services providers on the respective licensing requirements to ensure a smooth application process.

      Our team of compliance professionals can assist with the following:

      • advising on the specific license requirements
      • advising on regulatory capital requirements
      • preparation and submission of application forms
      • negotiating license conditions with authorities
      • preparation of all documentation relating to operations, corporate governance and risk management obligations
      • liaising with local regulators.

      In addition, we can assist each responsible officer and licensed representative in the following ways:

      • advising on competency requirements and on available waivers (where applicable)
      • assistance to complete and prepare the CVs of licensed representatives
      • liaising with the authorities on the assessment of the ‘fit and proper’ test of licensed representatives.

      Setting Up a Fund Management Company in Singapore

      Singapore’s strong infrastructure and attractive tax system have developed it into a leading fund management centre, where institutions can manage fund operations with a presence and substance in Singapore.

      Payment Services Act

      The Payment Services Act (“PSA”) came into effect in Singapore on 28 January 2020 and streamlines the payment services regulatory framework under a single piece of legislation.