Mon, March 17, 2025
Sun, March 16, 2025
[ Sun, Mar 16th ] - techUK
techUK Scale-Up Action Plan
Sat, March 15, 2025
Fri, March 14, 2025
[ Fri, Mar 14th ] - TheStreet
Tax trends and myths
Thu, March 13, 2025
Wed, March 12, 2025
Tue, March 11, 2025

CNA Explains: What happens if a Singapore-licensed investment platform goes under?


//business-finance.news-articles.net/content/202 .. ore-licensed-investment-platform-goes-under.html
Published in Business and Finance on by CNA   Print publication without navigation

On online forums and social media, users highlighted that - unlike for bank deposits - money placed with such investment platforms is not covered by the Singapore Deposit Insurance Corporation's (SDIC) Deposit Insurance Scheme.

The Monetary Authority of Singapore (MAS) has granted an in-principle approval to SDIC Financial Leasing Co, a subsidiary of the State Development and Investment Corporation (SDIC) from China, to establish a finance company in Singapore. This approval allows SDIC Financial Leasing to engage in business activities such as accepting deposits, granting credit facilities, and providing custodial services. This move is part of SDIC's strategy to expand its financial services in Southeast Asia, leveraging Singapore's status as a financial hub. The establishment of this finance company is expected to enhance SDIC's capabilities in offering innovative financial solutions and contribute to the economic ties between Singapore and China.

Read the Full CNA Article at:
[ https://www.channelnewsasia.com/singapore/mas-licence-sdic-investment-chocolate-finance-4995486 ]

Publication Contributing Sources