MAS stance on ARFP tax tipped to force change

Industry figures have welcomed a move by the Monetary Authority of Singapore (MAS) to go public with the reasons it declined to sign up to the ARFP fund passport scheme, arguing that it could force change. Last week AsianInvestor received an email from Singapore’s financial regulatory authority explaining why it deferred from signing a statement of understanding (SOU) to join the Asia Region Funds Passport (ARFP) at an Apec meeting in Cebu earlier this month, as reported. The MA…