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Feature: Business Times - Nominee directors expected to seek higher fees under new laws
Justin Lim, Partner and Singapore Head of Outsourcing at Forvis Mazars shares his insights with Megan Cheah in The Business Times article "Nominee directors expected to seek higher fees under new laws" on 26 July.
New anti-money laundering laws are set to shake up the corporate services industry. With the stricter regulations for nominee directorships, corporate service providers need to ensure the "fit and proper" status of these individuals.
Justin shared "We expect to see a slight or incremental increase to the compliance costs (for clients) simply because now, we're talking about a higher risk." As nominee directors face heightened scrutiny, expect fees to rise.
Read the full article here on The Business Times.
You may also download the print article below.
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