The Monetary Authority of Singapore (MAS) has reprimanded RVP One Pte. Ltd, 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).
RVP failed to submit the following information to MAS as required under the SFR:
- financial returns for financial years 2020 to 2022 and annual declaration for financial year 2023;
- changes to its shareholding structure and the resignation of a director; and
- information concerning its fund management business, including the location of its employees, shareholding structure and details of a new fund.
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.
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.
