The Singapore’s Variable Capital Company (VCC) framework came into force in 2020. Since its launch, it has been well received by fund managers in Singapore. VCC is a Singapore- incorporated company with separate legal entity status that can serve as a corporate fund vehicle for collective investment schemes. It can take form of standalone vehicle or overall umbrella structure consisting of multiple sub-funds. Sub-funds are created to allow for different investment strategies and objectives, assets and liabilities, and investors.

VCC is governed by the Accounting and Corporate Regulatory Authority (ACRA). Monetary Authority of Singapore (MAS) is responsible for the administration of the VCC Act on the Prevention of Money Laundering and Terrorism Financing and has powers to issue directions and regulations in relation to AML/CFT to VCC.

VCC should take note of some of the below to meet AML/CFT Requirements:

How Argus can help

We can assist in the following manner:

  • Assist to draft AML/CFT policies and procedures
  • Conduct gap analysis on your current policies versus the regulatory requirements
  • Conduct audit and independent assessment on service providers appointed to perform AML/CFT checks on behalf of VCC
  • Periodic remediation review of customer onboarding documents to identify gaps in the processes and procedures

Pin It on Pinterest

Contact us
close slider
Contact us

Fill up the form below to get in touch with us!

Online Training
Anti-Money Laundering and Countering the Financing of Terrorism
Friday, 29 October 2021
02:30 – 04:00 SGT

days to go

Save your Seat