The Monetary Authority of Singapore (MAS) has proposed allowing foreign head offices and other branch offices (collectively, foreign branches) of financial institutions in Singapore (Singapore FIs) to provide cross-border financial services under an arrangement with Singapore FIs forming part of the same legal entity to customers in Singapore by a system of ex-post notification. This proposal was set out in its Consultation Paper on Proposed Exemption Framework for Cross-Border Business Arrangements of Capital Markets Intermediaries Involving Foreign Offices issued on 15 March 2021 (Consultation Paper). The consultation closes on 15 April 2021.