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The Monetary Authority of Singapore (MAS) released a consultation paper (paper) on 4 December 2018 proposing revisions to the exemption framework for cross-border business arrangements between financial institutions in Singapore and their foreign related corporations (FRC Framework). If these proposals are implemented, regulated financial institutions in Singapore may proceed to enter into such arrangements with their foreign related corporations (FRCs) and to provide an ex post notification to the MAS rather than being required to obtain case by case prior approval from the MAS. Certain conditions will continue to apply.

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