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- MAS
- Speeches
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- Second Reading Speech by Mr Tharman Shanmugaratnam, Minister For Education and Deputy Chairman, Monetary Authority of Singapore Mr Speaker Sir, on behalf of the Senior Minister, I beg to move. "That the Bill be now read a second time." 2 Sir, the purpose of this Bill is to introduce a new framework for the oversight of payment systems. The framework also covers the regulation of stored value facilities (SVF), which refer to prepaid cards and other payment instruments used for the purchase of
- PDPC
- Commission's Decisions
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- PERSONAL DATA PROTECTION COMMISSION [2017] SGPDPC 17 Case No DP-160-A712; DP-1604-A713 In the matter of an investigation under section 50(1) of the Personal Data Protection Act 2012 And Social Metric Pte Ltd … Organisation DECISION -------- Social Metric Pte Ltd [2017] SGPDPC 17 Tan Kiat How, Commissioner — Case No DP-160-A712; DP-1604-A713 27 November 2017. Background 1 This case involves a company which, as part of its social media marketing
- PDPC
- Commission's Decisions
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- A financial penalty of $18,000 and directions were issued to Social Metric for leaving the personal data exposed to the world wide web via unprotected URL links; and failure to remove personal data of its clients’ customers from its website when they no longer served a legal or business purpose. Click here to find out more. PERSONAL DATA PROTECTION COMMISSION [2017] SGPDPC 17 Case No DP-160-A712; DP-1604-A713 In the matter of an investigation under section 50(1) of the Personal Data Protection
- MAS
- Consultations
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- Response VIEW DOCUMENT Response to Feedback on Draft PSOA Regulations and SVF Guidelines (18.7 KB) Consultation Paper the comments RESPONSE TO FEEDBACK RECEIVED CONSULTATION ON THE DRAFT REGULATIONS PURSUANT TO PAYMENT SYSTEMS (OVERSIGHT) ACT 2006 AND DRAFT STORED VALUE FACILITY GUIDELINES MAS published two consultation papers on 8 March 2006 to seek comments on the draft Regulations pursuant to the Payment Systems (Oversight) Act 2006 (Regulations) and
- MAS
- Speeches
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- Keynote Speech by Ms Teo Swee Lian, Deputy Managing Director, Prudential Supervision, MAS at Payments Asia Summit 2008 Tuesday 29th January 2008, Sheraton Towers Singapore Payment Systems in Asia – What is in the Regulators’ Field of vision? Part I: Introduction 1. Good morning Mr Chris Skinner, Chairman, ladies and gentlemen. I would like to thank ICBI for inviting me to the inaugural Payments Asia Summit 2008. I am pleased to speak at this important event, on the topic of the Regulators’ field
- PDPC
- Help & Resources
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- The PDPC had received enquiries from individuals about merchants swiping the magnetic stripes of the payment cards after payment had been processed through the use of the embedded microchips on the cards. The act of accessing personal data stored in a payment card, through any microchip, magnetic stripe reader or any other means, constitutes collection of the personal data under the PDPA, even if the personal data is retained only temporarily by the merchant. Merchants will have to ensure that the
- PDPC
- Public Consultations
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- PUBLIC CONSULTATION FOR MANAGING UNSOLICITED COMMERCIAL MESSAGES AND THE PROVISION OF GUIDANCE TO SUPPORT INNOVATION IN THE DIGITAL ECONOMY Dear Sir/Mdm We would like to submit comments for the consultation paper. For any clarifications, you may contact us at: Company Name: NTUC Income Contact Person: Daniel Mok Email: Daniel.Mok@income.com.sg Feel free to let us know if you require any clarifications. -------- A) Proposed streamlining of requirements under DNC provisions
- PDPC
- Public Consultations
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- Feedback Electronic form of storage normally consists of 2 types- • digitized personal records and transactions that are active/live in an application system, and • backup media of data from systems While it is possible to formulate a mechanism by which personal data active/live in an application can be removed or anonymised, it is not technically possible to do so for data in the backup media. The effort required to remove /anonymise personal data from such electronic backup
- MAS
- Media Releases
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- Singapore, 31 May 2023… The Monetary Authority of Singapore (MAS) and Google Cloud today signed a Memorandum of Understanding (MoU) to collaborate on generative artificial intelligence (AI) solutions that are grounded on responsible AI practices. The partnership will explore technology opportunities to advance the development and use of responsible generative AI applications within MAS, as well as cultivate technologists with deep AI skillsets. 2 The MoU provides a framework for cooperation in
- MAS
- Monographs/Information Papers
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- Supervisory and regulatory approach for financial market infrastructures. This Monograph explains how MAS regulates and supervises payment systems, the Central Depository System, securities settlement systems, central counterparties and trade repositories. Resources: Objectives and Principles of Financial Sector Oversight in Singapore Tenets of Effective Regulation MAS Framework for Impact and Risk Assessment of Financial Institutions - A Guide for Senior Executives Enforcement MAS Approach to Resolution