MAS reprimands RVP One for SFR breaches

RVP failed to submit financial returns for 3 years, according to MAS.

Singapore’s central bank has issued a reprimand against RVP One, a fund management company, and its CEO and director Viktor Panisch for breaches of the Securities and Futures Regulations.

RVP reportedly failed to submit financial returns for the fiscal years of 2020 to 2022, and annual declaration for financial year 2023, according to the Monetary Authority of Singapore (MAS).

RVP also failed to inform the MAS on changes to its shareholding structure and the resignation of a director.

The fund management company did not submit to regulators information concerning its fund management business. These include the location of its employees, as well as details of a new fund.

MAS found that Panisch agree to RVP’s breaches and failed to take adequate measures to ensure that the company complies with regulator 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. MAS takes a serious view of such egregious non-compliance with regulatory requirements,” Singapore’s financial regulator said in a statement posted on the SG Press Center.