The Ministry of Financial Services and Good Governance in collaboration with the Financial Services Commission (FSC) launched the New
Special Purpose Fund (SPF) on 9 June 2021. As a reminder, the Financial Services (Special Purpose Fund) Rules 2021 (referred hereinafter as
the “Rules”) came into force on 6 March 2021.
The FSC has also released a FAQ with regard to this newly implemented framework in a view to provide more in-depth information and
clarifications. The FAQ can be accessed here
We communicated on the Rules which supersede the Financial Services (Special Purpose Fund) Rules 2013 and usher in a revamp of the existing
framework for SPFs,as announced in the 2019/2020 National Budget, in our past newsletter1.
1 To access our news release on the Financial Services (Special Purpose Fund) (Amendment) Rules 2021: HERE