1. Commencement of New Requirements under the Corporate Registers(Miscellenaeous Amendments)Act
The Accounting and Corporate Regulatory Authority (ACRA) implemented new requirements to strengthen Singapore’s corporate governance regime, and reaffirm Singapore’s commitment to combatting money laundering, terrorism financing and other threats to the integrity of the international financial system.
Maintaining Registers of Nominee Shareholders
Companies (including foreign companies) are required to maintain a Register of Nominee Shareholders (RONS) at their registered office or at the registered office of their appointed Registered Filing Agent. The RONS will need to contain prescribed particulars of the nominator(s) of the company’s nominee shareholder(s). Companies must set up their RONS by 5 December 2022.
2. New e-Stampling Portal launching on 20 Oct 2022
- Information at a glance
- Stamping made simple
- Manage access to records
- Pay with ease
- Log in anytime, anywhere
- Stay notified
3. Government extends 4% interest rate floor on Special, MediSave and Retirement Account monies until 31 December 2023
To help CPF members grow their savings, the Government has extended the 4% interest rate floor for interest earned on all Special, MediSave and Retirement Account (SMRA) monies for another year from 1 January to 31 December 2023.
Since 1 January 2008, CPF interest rates have been pegged to market instruments of comparable risk and duration to ensure that members receive fair and reasonable returns. While the recent rise in interest rates have led to an increase in the pegged SMRA rates, they remain below the floor rate of 4%. To help members grow their savings consistently, the Government will be extending the 4% floor rate on SMRA interest. The SMRA rates will continue to be reviewed regularly and CPF members will earn the higher of the floor or pegged rate.
4. Police warn of SMS phishing scams involving Singpass
The Singapore Police Force(SPF) warned of a new variant of SMS phising scams where scammers would target victims with similar sender’s ID obtain their Singpass login credentials.