Requirements for designated financial holding companies with a subsidiary that is a bank incorporated in Singapore on the annual appointment of auditors.
This notice applies to designated financial holding companies with a subsidiary that is a bank incorporated in Singapore (DFHC(Bank)). This notice sets out the requirements for every DFHC(Bank) to seek MAS’ approval to appoint or re-appoint an auditor annually to carry out the duties specified in section 39 (1) of the Financial Holding Companies Act 2013.