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Financial advisory
RES5Financial Advisory Services✓A fund constituted in Luxembourg is to be offered to ordinary retail investors in Singapore. For this offer to be lawful under the framework, the fund must be:
A foreign-constituted (Luxembourg) fund cannot be authorised as a local scheme; to reach retail investors it must be recognised by MAS, which requires its home regulatory regime to be broadly comparable to Singapore's.
Trying to 'authorise' a foreign fund (authorisation is for local schemes) or confining a would-be retail offer to accredited investors.
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