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- MAS
- Speeches
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- Date: 25 Nov 2002 Mr. Speaker, Sir, I beg to move, "That the Bill be now read a second time". 2 The Payment and Settlement Systems (Finality and Netting) Bill seeks to make provision for the protection of payment and settlement systems from disruptions that may lead to risks in the financial system. Proper protection of such systems is critical to the effective functioning of the financial system. The Bill strengthens the legal environment for operating stable and secure payment and settlement
- MAS
- Speeches
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- 1 Mdm Speaker, I beg to move, "That the Bill be now read a second time". 2 The Payment Systems (Oversight) Act (PSOA) was first introduced in June 2006 for the oversight of payment systems and stored value facilities (SVFs) in Singapore. It provides the industry with regulatory clarity via a consistent and transparent framework. The PSOA also allows MAS to adopt a risk-focused approach to designate particular payment systems which are important for Singapore’s financial stability or public
- MAS
- Media Releases
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- Singapore, 21 November 2017… The Monetary Authority of Singapore (MAS) today launched a second consultation on its proposed payments regulatory framework, known as the Payment Services Bill (the “Bill”) 1 . The Bill will streamline the regulation of payment services under a single legislation, expand the scope of regulated payment activities to include virtual currency services and other innovations, and calibrate regulation according to the risks posed by these activities. 2 Last year, MAS had
- MAS
- Media Releases
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- Singapore, 30 April 2020... The Monetary Authority of Singapore (MAS), the Association of Banks in Singapore (ABS) and the Finance Houses Association of Singapore (FHAS) today announced a second package of measures to support individuals facing financial difficulties due to the COVID-19 pandemic. This second package will extend the scope of relief for individuals to other types of loan commitments, and allow them to continue to have access to affordable basic banking services. 2 On 31 March 2020
- PDPC
- Public Consultations
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- PDPC PUBLIC CONSULTATION FOR APPROACHES TO MANAGING PERSONAL DATA IN THE DIGITAL ECONOMY- 27 July 2017 Feedback from Sheela Awat, AT Law Practice LLP Question 1: Should the PDPA provide for Notification of Purpose as a basis for collecting, using and disclosing personal data without consent? Question 2: Should the proposed Notification of Purpose approach be subject to conditions? If so, what are your views on the proposed conditions (i.e., impractical to obtain consent and not expected
- MAS
- Media Releases
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- Singapore, 27 March 2017…The Monetary Authority of Singapore (MAS) today signed cooperation agreements with the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Autorité des Marchés Financiers (AMF) of France to enhance FinTech cooperation between both countries. The cooperation agreement provides a framework under which ACPR, AMF, and MAS will share information about emerging FinTech trends, potential joint innovation projects, and regulatory issues pertaining to innovative financial
- PDPC
- Public Consultations
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- RESPONSE TO PUBLIC CONSULTATION PAPER Consultation topic: Public consultation for approaches to managing personal data in the digital economy. Name1/Organisation: 1if responding in a personal capacity Mizuho Bank Ltd 1) Valarie Jagger, DID: 68053335 2) Adeline Tang, DID: 68053897 1) valarie.jagger@mizuho-cb.com 2) adeline.tang@mizuho-cb.com Contact number for any clarifications: Email address for any clarifications: 1 -------- Notification of Purpose
- MAS
- Parliamentary Replies
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- QUESTION NO 1051 NOTICE PAPER 1438 OF 2018 FOR WRITTEN ANSWER Date: For Parliament Sitting on 19 November 2018 Name and Constituency of Member of Parliament Mr Desmond Choo, MP, Tampines GRC Question: To ask the Prime Minister (a) how do Singapore's regulations on e-money float compare to those of the major global financial centers; (b) what is the progress on the consultation on "user protection measures in electronic payments"; and (c) how will the Ministry protect consumer interests while ensuring
- MAS
- Speeches
Last revised date:
- 1 Mr Speaker, on behalf of the Minister-in-Charge of MAS, I beg to move, “That the Bill be now read a second time”. BACKGROUND 2 One of MAS’ key supervisory objectives is to ensure that critical payment and settlement systems function smoothly during times of disruption. Disruption can occur, for example, when a participant in a payment and settlement system becomes insolvent. A case in point was in 1995 – when the insolvency of Barings transmitted its financial losses to counterparties in
- MAS
- FAQs
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- Provides guidance to financial advisers on how to apply the spreading and capping of commission rules. Frequently Asked Questions (FAQs) on the Spreading and Capping of Commission (SCC) Rules under the Financial Advisers (Remuneration) (Amendment) Regulations 2017 and the Insurance (Remuneration) (Amendment) Regulations 2017 (Issued on 19 April 2017) Disclaimer: The FAQs are meant to provide guidance to the industry on MAS policy and administration of the SCC rules set out under