MAS Reprimands Evia Capital Partners Ptd Ltd for Breach of the Securities and Futures (Licensing and Conduct of Business) Regulations (CAP. 289, Regulation 10)

1          On 10 July 2012, MAS reprimanded Evia Capital Partners Pte Ltd [“ECPPL”] for  repeated late lodgment of Form 25 of the Securities and Futures (Licensing and Conduct of Business) Regulations [“SF(LCB)Regs”] after the end of its financial year, as required under the SF(LCB)Regs.  ECPPL is an exempt fund manager under paragraph 5(1)(d) of the Second Schedule to the SF(LCB)Regs, undertaking fund management activity in Singapore on behalf of not more than 30 qualified investors.

2          Under the SF(LCB)Regs, information to be filed in SF(LCB)Regs Form 25 includes the total assets under management of the exempt fund manager, and the total number of qualified investors whom the exempt fund manager undertakes such fund management activity on behalf of.  By failing to submit SF(LCB)Regs Form 25 within 14 days after its financial year end of 31 December 2011,  ECPPL has contravened paragraph 5(7)(d) of the Second Schedule to the SF(LCB)Regs.  This was not ECPPL’s first breach of the SF(LCB)Regs.  ECPPL was late in its submission of SF(LCB)Regs Form 25 on two previous occasions, for financial years 2005 and 2008.

All financial institutions should comply with all relevant reporting requirements by submitting their statutory forms within the time period stipulated under the law. The Authority may take such breaches into account when considering actions to be taken against the Company for any future contravention of the applicable laws and regulatory requirements, or in the assessment of any future applications for licences or registrations.

Last Modified on 26/11/2016