Swiber default pushes MAS to second-guess accredited investor regime
Investors will be offered to “opt in” to accredited status.
Swiber’s default has nudged the Monetary Authority of Singapore (MAS) to rethink regulations that would push “medium risk” investors to reach accredited status, according to a report by Bloomberg.
“Asked about the implications of the Swiber default for investor protection, the Monetary Authority of Singapore said it’s proposing revisions to the law which will prevent banks from assigning accredited investor status to those whose wealth is mostly in property,” Bloomberg revealed.
On top of this, individuals will be allowed to decide if they wish to “opt in” to accredited status, and thereby forgo the buffers that ordinary investors are afforded.
Read the full report here.