This notice applies to all merchant banks in Singapore that hold private equity and venture capital (PE/VC) investments. It sets out the requirements on PE/VC investments which merchant banks must comply with, including:
• Duration and valuation of PE/VC investments.
• Involvement in management of investees.
• Risk management policy for PE/VC investments.
• Qualifications for merchant bank employees handling PE/VC investment activities.
• Internal approval and monitoring process for each PE/VC investment.
• Reporting PE/VC policies and activities to MAS.