The Monetary Authority of Singapore (“MAS”) withdrew V Wealth Capital Pte Ltd’s status as a Registered Fund Management Company (“RFMC”) with effect from 20 May 2016. V Wealth will no longer be allowed to carry out fund management activities in Singapore.
The decision was made as V Wealth had failed to comply with the following requirements:
- Failure to notify MAS of,
- change of its principal place of business;
- resignation of its director; and
- change to the personal particulars of its director.
- Failure to submit an auditor’s report and the accompanying financial statements.
- Failure to furnish to MAS information requested by MAS via the written directions issued.