07/30/2024 | Press release | Distributed by Public on 07/30/2024 01:10
Singapore, 30 July 2024… The Monetary Authority of Singapore (MAS) has reprimanded RVP One Pte. Ltd. (RVP), a registered fund management company (RFMC), and its chief executive officer (CEO) and director, Mr Viktor Panisch, for breaches of the Securities and Futures (Licensing and Conduct of Business) Regulations (SFR).
2 RVP failed to submit the following information to MAS as required under the SFR:
3 As RVP's CEO and director, Mr Panisch was principally responsible for ensuring that RVP complied with MAS' regulatory requirements. MAS found that Mr Panisch knew and agreed to RVP's breaches, and that he had failed to take adequate measures to ensure that RVP complied with MAS' regulatory requirements.
4 RVP's and Mr Panisch's breaches occurred despite MAS sending multiple reminders to RVP to make the relevant submissions or furnish MAS with the required information. MAS takes a serious view of such egregious non-compliance with regulatory requirements.
5 MAS expects all financial institutions to take their reporting requirements seriously. CEOs and directors must carry out the duties and functions of their offices effectively.
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