Audit regulations for Fund Management Companies

How often must a fund management company file financial returns with MAS?

• For FMCs that are capital market services license holder (ie A/I LFMCs and retail LFMCs) the following must be submitted quarterly and annually respectively:

  According to MAS (Compliance Toolkit),
  last revised on March 2022

  Section C: Regulatory Submissions to MAS

  S/N	Requirement	Form to be Submitted	Regulatory Deadline	Mode of Submission	Legislative Reference
  35	To submit quarterly financial returns	Form 1 - Statement of Assets and Liabilities Form 2 - Statement of Financial Resources, Total Risk Requirement and Aggregate Indebtedness	Within 14 days from the end of each quarter	MASNET	Regulation 27 of the FMR
  36	To submit audited annual financial returns and auditor’s report	Form 1 - Statement of Assets and Liabilities Form 2 - Statement of Financial Resources, Total Risk Requirement and Aggregate Indebtedness Form 3 - Statement related to the Accounts of a Holder of a CMS Licence Form 4 - Statement relating to the Accounts of a Holder of a CMS Licence – Supplementary Information Form 5 - Auditor’s Report - For a Holder of a CMS Licence Form 6 - Auditor’s Certification - For a Holder of a CMS Licence Audited Profit and Loss Account and Balance Sheet made up to the last day of the financial year, together with an Auditor’s report, including Management Letter (if any)	Within 5 months from the end of the financial year	Forms 1 to 4: MASNET Forms 5 and 6, and auditor’s report via the link: https://go.g ov.sg/ cmslannualr eturns	Section 107 of the SFA and Regulation 27 of the FMR

  For RFMCs, the following must be submitted annually:
  According to MAS (Compliance Toolkit),
  last revised on 30 November 2021

  Section C: Regulatory submissions to MAS

  S/N	Requirement	Form to be Submitted	Regulatory Deadline	Mode of Submission	Legislative Reference
  9	To submit an annual declaration on changes to key appointments, AUM, investor types and numbers, fund types, and deals	Form 25A – Annual Declaration by a Registered Fund Management Company or a Venture Capital Fund Manager	Within 1 month after financial year end	CeL	Regulation 14(6) of the LCBR and Paragraph 5(7I) of the Second Schedule to the LCBR
  10	To submit audited annual financial returns and auditor’s report	Form 25B – Auditor’s Report for a Registered Fund Management Company Audited Profit and Loss Account and Balance Sheet made up to the last day of the financial year, together with an Auditor’s report, including Management Letter (if any)	No later than 5 months after the financial year end	CeL	Paragraphs 5(7I) of the Second Schedule to the LCBR

   

  According to the MAS Compliance Toolkit for VCFMs (last revised on July 2021), for VCFMs there are no regular financial returns that must be filed with MAS.