On 12 June 2026, the Monetary Authority of Singapore (“MAS”) announced a significant update to the licensing exemption framework for single family offices (“SFOs”) operating in Singapore (“New SFO Framework”). The New SFO Framework took effect on 15 June 2026 through amendments to the Securities and Futures (Licensing and Conduct of Business) Regulations (the "SF(LCB)R").
Under the New SFO Framework, qualifying SFOs now have a dedicated statutory exemption from the requirement to hold a capital markets services (“CMS”) licence for fund management under the Securities and Futures Act 2001 ("SFA"). The introduction of this exemption marks a significant departure from the previous regime, under which many SFOs relied on the related corporation exemption or the case-by-case exemption granted by the MAS to conduct fund management activities.
Existing SFOs that relied on the related corporation exemption or a case-by-case exemption granted by MAS immediately prior to 15 June 2026 have a transitional period of one yeartill 15 June 2027 to comply with the New SFO Framework.
This update highlights the key features of the new regime and the practical considerations for existing and prospective SFOs.
Please find the full update attached.