Futu Trustee (Singapore) Pte. Ltd. Receives Trust Business Licence
2022-07-14 Company News
2022-07-14 Company News

SINGAPORE, July 14, 2022 – Futu Trustee (Singapore) Pte. Ltd. ("Futu Trustee Singapore" or "the Company" ) a subsidiary of Futu Holdings Limited ("Futu") (Nasdaq: FUTU), is pleased to announce that the Company has been accorded the Trust Business Licence from the Monetary Authority of Singapore. It marks yet another milestone for the Futu Group, followed by its another subsidiary company, Moomoo Financial Singapore Pte. Ltd. ("moomoo SG"), a leading tech-driven online brokerage company becoming the first digital brokerage to obtain full memberships across the securities and derivatives markets from SGX.

 

Futu Trustee Singapore's sister company, Futu Trustee Limited ("Futu Trustee Hong Kong") is licenced in Hong Kong since 2018 and has to date over 200 corporate and high-net-worth family clients from Asia. With the coveted Trust Business License being obtained in Singapore, Futu Trustee Singapore and Futu Trustee Limited (collectively "Futu Trustee"), coupled with it's already extensive experience, is now able to provide a comprehensive range of trust services to Asia's and global high-net-worth clients looking for estate planning and wealth preservation in Singapore. Futu Trustee is also now well poised to further entrench its presence in the trust and family offices services industry in Asia.

 

Backed by a Nasdaq listed parent company with a solid financial position, Futu Trustee is well equiped to serve Asia's clients with its regional teams based in Greater China and Singapore sharing similar timezones, cultures, and languages with its clients. Futu Trustee's client-oriented philosophy provides hassle-free and customised solutions for clients and the administration of trust funds is not restricted to any asset class.

 

Futu Trustee's clients can also benefit from Futu's securities and wealth management offerings via Futu's online brokerage super-app,Futubull. The trust service offerings, together with Futu's investment and wealth management services platform, creates seamless synergies across the Futu Group.

 

Said Ms. Rachel Onn, Executive Director of Futu Trustee (Singapore) Pte. Ltd., " We are delighted to witness Futu achieving two milestones in its business development in such a short time. Receiving the Trust Business Licence from MAS enables us to support our clients with professionalism backed by our team of industry veterans from independent trust companies, banking and finance, and legal and accounting background. Increasingly, we are seeing more high-net-worth clients and companies looking to set up trust structures in Singapore due to the strong rule of law, political stability and competitive business environment. There is definitely a huge potential in the market and we are proud to be one of the 63 Trust Business Licencees approved by MAS in Singapore. We look forward to collaborating with industry partners to support this important and growing segment of the market."


About Futu Trustee (Singapore) Pte. Ltd.

Futu Trustee (Singapore) Pte. Ltd. ("Futu Trustee Singapore") is a subsidiary of Futu Holdings Limited (Nasdaq:FUTU). As a fully licensed trust company (Trust Business License No. TC000074) regulated by the Monetary Authority of Singapore, Futu Trustee Singapore provides a diverse suite of services in trust set up, trustee appointment and trust administration services in both corporate and private settings. Futu Trustee Singapore possesses a team of industry veterans from world-class independent trust companies, banking, accounting, family offices, taxation and compliance advisory background and as such enables the company to provide full-fledged of trust services including the administration of ESOP and family trusts.

The information of this article is for reference only and is not intended to provide any legal, tax or other advice, nor should it be considered for such purposes. Clients are recommended to seek professional advice. The content of this article is based on reliable sources at the time of making it and it is subject to revision by our company without notice.
Contact Us

Futu Trustee is committed to providing you with professional and reliable services. If you have any questions, please feel free to contact us.

Hong Kong
Unit C1-2, 13/F, United Centre, No. 95 Queensway, Admiralty
+852 2301 8999 ext. 5606
Singapore
1 Raffles Quay (North Tower), #21-03, Singapore 048583
+65 6439 1100 ext. 3530

The licensing information in relation to companies within Futu Group is as follows:

Futu Securities International (Hong Kong) Limited

Holder of 20 licenses and participantship in providing clients with reliable securities trading services.

In Hong Kong, China: Futu HK is a licensed corporation regulated by the Securities and Futures Commission of Hong Kong (CE No. AZT137) and has obtained Type 1 Licence for Dealing in Securities, Type 2 Licence for Dealing in Futures Contracts, Type 3 Licence for Leveraged Foreign Exchange Trading, Type 4 Licence for Advising on Securities, Type 5 Licence for Advising on Futures Contracts, and Type 9 Licence for Asset Management.Futu HK is registered as MPF Intermediary, SEHK Participant, HKSCC Direct Clearing Participant, SEHK China Connect Exchange Participant, HKSCC China Connect Clearing Participant, SEHK Options Trading Exchange Participant, SEOCH Direct Clearing Participant, HKFE Futures Commission Merchant, and HKCC Clearing Participant.

In Europe: Futu HK is a member of London Stock Exchange and Turquoise.

In Singapore: Futu HK is a trading member of Singapore Exchange Securities Trading Limited and Singapore Exchange Derivatives Trading Limited.

Futu Trustee Limited

Holder of Trust or Company Service Provider Licence (Licence No. TC006475).

Futu Lending Limited

Holder of Money Lenders Licence (Licence No. 2034/2021).

Futu Insurance Brokers (Hong Kong) Limited

Holder of Insurance Broker Company Licence (Licence No. FB1783).

Moomoo Financial Inc.

A broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) (CRD: 283078/SEC: 8-69739), and a member in good standing of Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).

Futu Clearing Inc.

A broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) (CRD: 298769/SEC: 8-70215), a member in good standing of Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), as well as a member of Depository Trust Company (DTC), a member of National Securities Clearing Corporation (NSCC) and the Options Clearing Corporation (OCC).

Futu Wealth Advisors Inc.

An investment advisor registered with and regulated by the U.S. Securities and Exchange Commission (SEC) (CRD: 310790/SEC: 801-119635).

Futu Futures Inc.

A licensed entity registered with the National Futures Association (NFA) (NFA ID: 0523957) and regulated by the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC).

Moomoo Financial Singapore Pte. Ltd.

Registered with the Monetary Authority of Singapore (MAS), Futu SG is a Capital Markets Services Licence (Licence No. CMS101000) holder with the Exempt Financial Adviser Status. Futu SG has also received all SGX's memberships. Futu SG has been admitted as Clearing Member of The Central Depository (Pte) Ltd (CDP) , Trading Member of Singapore Exchange Securities Trading Limited (“SGX-ST”), Trading and Clearing Member of Singapore Exchange Derivatives Trading Limited (“SGX-DT”), and Depository Agent of CDP.

Futu Trustee (Singapore) Pte. Ltd.

A Singapore trust company licensed by the Monetary Authority of Singapore to carry on trust business and services (Licence Number: No.TC000074).

Futu Securities (Australia) Ltd

A securities dealer registered with and regulated the Australian Securities and Investments Commission (ASIC). Futu AU holds the Australian Financial Services Licence (Licence No. 224663).

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