Rising scrutiny of family offices and hedge funds

Changing landscape: Tighter regulations for the wealth-management industry are being put in place after the discovery of a high-profile money laundering case in the city-state. — Bloomberg

SINGAPORE: The Singapore authorities are demanding more information from family offices and hedge funds while stepping up closures of dormant firms after a string of scandals highlighted cracks in the financial hub’s oversight.

The government’s push to tighten various investment regimes has accelerated since March, with agencies setting out additional requirements that must be met in the coming months and ramping up the removal of inactive corporate entities, according to people familiar with the matter.