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- MAS
- Media Releases
Last revised date:
- Menon and Chief Executive Officers of DBS Group, Prudential Singapore, Standard Chartered Bank Singapore, and IBF. *** About the Monetary Authority of Singapore The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator.
- Singapore, 26 November 2020… The Monetary Authority of Singapore (MAS) and the Institute of Banking and Finance (IBF) announced today additional measures to support and strengthen the development of workers in the financial services sector.
- Since MAS and IBF introduced these measures Besides the TAG and IBF Credit, MAS announced the enhancement of course fees subsidies for courses under IBF-Standards Training Scheme (IBF-STS) and Financial Training Scheme (FTS) from 50%-70% to 90%, subject to funding caps of $7,000 and $2,000 respectively
- MAS
- Enforcement Actions
Last revised date:
- The enforcement action followed UBS’ reporting of the misconduct to MAS, and MAS’ subsequent investigations. 2 UBS has admitted liability for its client advisors' actions and paid MAS the civil penalty.
- Singapore, 14 November 2019… The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $11.2 million on UBS AG (UBS), for acts of its client advisors that contravened section 201(b) of the Securities and Futures Act (SFA).
- MAS has asked UBS to appoint an independent party to validate the adequacy and effectiveness of the bank’s remediation measures.
- MAS
- Media Releases
Last revised date:
- Singapore, 4 August 2010...The Monetary Authority of Singapore (MAS) has taken supervisory action against DBS Bank Ltd for the service outage of its online and branch banking systems on 5 July 2010 which caused significant inconvenience to the bank’s customers. 2 As directed by MAS, DBS Bank and
- MAS has reviewed the investigation reports and has also conducted our own analysis.
- MAS therefore finds that DBS Bank has not adequately observed Sections 5, 7 and 8 of MAS Internet Banking and Technology Risk Management Guidelines (IBTRM Guidelines). 3 MAS has censured DBS Bank for the shortcomings and inadequate management oversight by the bank of its outsourced IT systems, networks
- MAS
- Enforcement Actions Media Releases
Last revised date:
- In addition, MAS has required UOBKH to appoint an independent external party to validate the implementation and effectiveness of its remediation measures and report the findings to MAS. 5.
- These failures were identified during an inspection by MAS. UOBKH has paid the penalty in full. 2.
- Each breach of Notice SFA04-N02 is an offence punishable under section 27B(2) of the MAS Act, where the maximum prescribed fine is $1,000,000 per offence. The breach is compoundable under section 176 of the MAS Act. *****
- MAS
- Circulars
Last revised date:
- This circular explains the revisions made to the Acts administered by MAS in the 2020 Revised Edition of the Act, and clarifies how to read the references to the Acts in MAS-issued instruments and documents. Circular No.
- For other Acts administered by MAS, the re-numbering is limited to sub-section numbers, if any. 3 The Exercise covered Acts administered by MAS effective before 1 October 2021, as set out in the Annex. -------- (b) For communications with financial institutions going forward, MAS will
- As there are some changes to the names 3 of, and the Part, section and sub-section numbers of the various MAS-administered Acts, MAS will progressively update the existing instruments and other documents over the next few years.
- MAS
- Media Releases
Last revised date:
- This will broaden MAS’ suite of money market instruments used to manage banking system liquidity.
- It now captures both brokered and bilateral interbank transactions provided by reporting banks to MAS.
- SORA for a given business day will be published by 9.00am on the next business day. , which is administered by MAS.
- MAS
- Consultations
Last revised date:
- Please direct comments to - Prudential Policy Department Monetary Authority of Singapore 10 Shenton Way, MAS Building Singapore 079117 Fax: (65) 62203973 Email: policy@mas.gov.sg MONETARY AUTHORITY OF SINGAPORE 1 -------- CONSULTATION PAPER ON PROPOSED AMENDMENTS TO MAS NOTICE
- MAS intends to follow the revised timeline and is currently assessing how these changes should be incorporated within MAS Notice 637. As such, the amendments to MAS Notice 637, other than those effected today, will now be implemented at a later date.
- This consultation paper sets out MAS proposed amendments to MAS Notice 637 (the Notice), incorporating the BCBS recommendations as well as other proposed amendments arising from MAS ongoing policy review of the capital rules and guidance.
- MAS
- Notices
Last revised date:
- [MAS Notice SFA03AA-N01 (Amendment) 2021] [MAS Notice SFA03AA-N01 (Amendment) 2022] [MAS Notice SFA03AA-N01 (Amendment) 2021] [MAS Notice SFA03AA-N01 (Amendment) 2022] Finance companies licensed under section 6 of the Finance Companies Act 1967 (Cap. 108).
- [MAS Notice SFA03AA-N01 (Amendment) 2022] Endnotes on History of Amendments 1. MAS Notice SFA03AA-N01 dated 3 January 2016. (a) MAS Notice SFA03AA-N01 (Amendment) with effect from 1 July 2021.
- [MAS Notice SFA03AA-N01 (Amendment) 2022] [MAS Notice SFA03AA-N01 (Amendment) 2022] 11. Direct life insurers licensed under section 8 of the Insurance Act 1966 (Cap. 142). [MAS Notice SFA03AA-N01 (Amendment) 2022] 12.
- MAS
- Circulars
Last revised date:
- Notices Description of returns Submission requirement Appendix A of MAS 105 Appendix 1 of MAS 109 1 original copy Submission is to be made to Monetary Management Division, MAS via MASNET Appendix A of MAS 306 1 original copy Appendices A to D of MAS 318 1 original
- Other Returns under MAS Notices Description of returns Submission requirement Appendix A of MAS 105 Appendix 1 of MAS 109 1 original copy Submission is to be made to Monetary Management Division, MAS via MASNET Appendix D Electronic submission via MASNET Submission
- HENG SWEE KEAT Managing Director, Monetary Authority of Singapore.
- MAS
- Speeches
Last revised date:
- Economics is a traditional favourite for MAS scholars, and of course remains highly relevant to anyone aspiring to a career in the MAS.
- If MAS falls short in its responsibilities, the stability and vibrancy of our financial sector will be affected. For the MAS then, the award of scholarships is an important element of our human resource development strategy.
- 'Building a Diverse Talent Pool for MAS' 1 I am very pleased to be here this morning for the MAS scholarships presentation, in the company of the 13 scholarship recipients, their parents and educators. I offer you all my heartiest congratulations. 2 2001 was a difficult year for Singapore.