Singapore | Leading financial centre in Asia | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more

This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.

Singapore Central Bank MAS to Introduce Due Diligence for Corporate Finance Advisers for IPO & M&A Activities

17th December 2021 | Singapore

Singapore Central Bank Monetary Authority of Singapore (MAS) has published a consultation paper to raise the standards of conduct of corporate finance (CF) advisers by introducing requirements for conducting due diligence for work such as IPOs and M&As to improve the quality of disclosures from entities seeking to raise funds from the public, thus allowing investors to make informed decisions on investments.  The consultation paper is available on MAS’ website . MAS invites interested parties to submit their comments on the proposals here by 15 February 2022.  (IPO ~ Initial Public Offering, M&A ~ Mergers & Acquisitions) 

“ Singapore Central Bank MAS to Introduce Due Diligence for Corporate Finance Advisers for IPO & M&A Activities “


- Article continues below -
Web links may be disabled on mobile for security.
Please click on desktop.

The 2023 Investment Day | HK & SG
Where do you invest $250k, $1 million, $10 million, $100 million or $1 billion? Can you generate IRR of 10% / 15% / 20% or more? Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 28th March 2023 in Hong Kong, 4th April 2023 in Singapore, and Virtual Investment Day in April 2023.
Visit | Register here

Corporate Advisers refer to holders of a capital markets services (CMS) licence and banks, merchant banks and finance companies exempt from holding a CMS licence to undertake the regulated activity of advising on corporate finance.


Corporate Finance (CF) Advisers

Singapore | Leading financial centre in Asia

Corporate Finance (CF) advisers are currently required to have effective internal controls to address the risks associated with their activities and mitigate conflicts of interests that may arise from these activities. The proposed requirements set out the minimum standards which CF advisers should adhere to when conducting due diligence on CF transactions. Under the proposal, CF advisers will be required to:

  • Exercise reasonable judgement in determining the scope of the due diligence work to be performed on a CF transaction;
  • Assess the veracity of information obtained in the course of their due diligence;
  • In relation to their role as issue managers of initial public offerings (IPOs), satisfy additional requirements such as assessing the suitability of listing the applicant and conducting an independent review of the due diligence performed by the team responsible for advising on a specific IPO. This is to better safeguard the interests of retail investors.

The consultation paper is available on MAS’ website . MAS invites interested parties to submit their comments on the proposals here by 15 February 2022.


Lim Tuang Lee Monetary Authority of Singapore Assistant Managing Director, Capital Markets
Mr Lim Tuang Lee, Assistant Managing Director (Capital Markets), MAS:

“Corporate finance advisers play an important gatekeeping role in safeguarding the integrity of our capital markets.

The proposed requirements are consistent with best practices in major jurisdictions and seek to strengthen investor confidence in our capital markets.”



CF advisers play an important role in the capital markets by providing advice to entities which intend to raise funds or are involved in takeover and merger transactions. In particular, issue managers (“IMs”)1 which advise on initial public offerings and other public issuances serve as gatekeepers of quality in the capital markets. They are responsible for conducting due diligence on the issuer and providing guidance to the issuer to ensure disclosures are accurate and complete in all material aspects. In a disclosure-based regime, investors rely on these disclosures as a key source of information to make their investment decisions. 

CF advisers are subject to general conduct requirements under the Securities and Futures (Licensing and Conduct of Business) Regulations, such as ensuring effective controls and segregation of duties to mitigate potential conflicts of interests that may arise from their operations, and maintaining records to explain the steps taken to monitor compliance with the policies and procedures relevant to their business. IMs advising issuers on public offers are also subject to the prospectus liability provision under section 253 of the Securities and Futures Act. 



Quick Links

2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM

For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

Caproasia Users

  • Manage $20 million to $3 billion of assets
  • Invest $3 million to $300 million
  • Advise institutions, billionaires, UHNWs & HNWs

Caproasia Platforms | 10,000 Investors & Advisors

Monthly Roundtable & Networking

Family Office Programs

The 2023 Investment Day

  • 28th March 2023 - Hong Kong
  • 4th April 2023 - Singapore
  • April 2023 - Virtual
  • Sept 2023 - Hong Kong
  • Oct 2023 - Singapore
  • Oct 2023 - Hong Kong
  • Visit: The Investment Day | Register: Click here

Caproasia Summits

Contact Us

For Enquiries, Membership,

For Listing, Subscription,

For Press Release, send to:

For Events & Webinars

For Media Kit, Advertising, Sponsorships, Partnerships

For Research, Data, Surveys, Reports

For General Enquiries

Make Better Business & Investment Decisions

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register

    Professional InvestorInstitutional InvestorFamily OfficeAdvisorFinancial ProfessionalExecutiveOthers

    Mailing ListFree TrialSubscription YearlySubscription MonthlyMembershipEvents

    Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights

    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014

    Web links may be disabled on mobile for security.
    Please click on desktop.

    Previous articleSingapore Exchange Launches New Roadmap for Climate & Board Disclosures
    Next articleDaughter of Founder of China Conglomerate Heungkong Buys Asia Most Expensive $82 Million Apartment in Hong Kong covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia