The Monetary Authority of Singapore is seeking to relax a range of rules for venture capital managers.

The Monetary Authority of Singapore (MAS), the city-state’s financial regulator and central bank, is set to simplify the authorisation process for VC managers, the Business Times reported today.

MAS will also simplify the regulatory regime and focus on “fitness and propriety assessment” of VC managers.

Furthermore, venture capital managers will no longer need to conform to capital requirements and business conduct rules.

The regulator is currently undertaking a public consultation on the proposed changes, which will close on March 15.