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- Media Releases
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- Singapore, 13 March 2017…The Monetary Authority of Singapore (MAS) announced today that it has issued a 10-year Prohibition Order (PO) against Mr Tim Leissner, a former director of Goldman Sachs (Singapore) Pte (GS S’pore). 1 MAS has also served notice of its intention to issue POs against three individuals
- Conclusion Mr Ong Chong Tee, Deputy Managing Director (Financial Supervision), MAS, said, “MAS will not tolerate conduct by any finance professional that threatens to undermine trust and confidence in Singapore’s financial system.
- Given the gravity of their misconduct, MAS intends to issue lifetime POs against Mr Sturzenegger and Mr Yak, and a 15-year PO against Ms Seah.
- MAS
- Exemptions
Last revised date:
- The exemptions do not detract from MAS regulatory objectives specified in Section 81T of the SFA.
- MAS granted an exemption to two IDBs from holding a CMS licence for trading in futures contracts.
- The exemption was granted on the basis that it did not detract from MAS regulatory objectives specified in Section 47 of the SFA. MAS granted an exemption to an ACH and its immediate holding company, a AHC, from certain regulations under the SF(CG)R.
- MAS
- Media Releases
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MAS Outlines Enforcement Approach to Deter, Detect and Investigate Breaches of Rules and Regulations- Singapore, 24 September 2018… The Monetary Authority of Singapore (MAS) today published an Enforcement monograph (459.5 KB) to provide greater clarity and transparency into how MAS deters, detects, investigates and takes action against breaches of the rules and regulations it administers.
- Lee Boon Ngiap, Assistant Managing Director (Capital Markets), MAS said “Enforcement plays a vital role in financial supervision.
- The monograph outlines how MAS’ Enforcement Department works together with the other financial sector oversight functions in MAS to uphold Singapore’s reputation as a clean and trusted financial centre. 2 This monograph builds on the earlier monograph on Capital Markets Enforcement published in January
- MAS
- Speeches
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- section 59A of the Banking Act to the Monetary Authority of Singapore Act.
- The Bill strengthens the legal environment for operating stable and secure payment and settlement systems by empowering the Monetary Authority of Singapore (MAS) to designate payment and settlement systems.
- Major Provisions in the Bill 11 Clause 3 gives MAS the power to designate payment and settlement systems to provide them with protection offered under this Bill. Clause 4 gives MAS the power to revoke the designation in certain circumstances.
- MAS
- Speeches
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- Welcome to this media briefing for the release of the Monetary Authority of Singapore's 2002/2003 Annual Report. MAS has had an eventful year. The economy performed weaker than expected in the first two quarters of 2003.
- This is why strengthening corporate governance standards in financial institutions has been a key priority at MAS for several years.
- All other assets and liabilities of BCCS as at 30 September 2002 were similarly transferred to the MAS and have been incorporated into our financial statements.
- MAS
- Speeches
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- It is co-chaired by the Chairman of Citi Private Bank Deepak Sharma and MAS Assistant Managing Director, Ng Nam Sin, signifying an industry-MAS collaborative effort.
- Since MAS’ supervisory activities are not as visible, let me say more about this.
- First, MAS is considering a tougher penalty regime for violations of AML/CFT. In a recent announcement, the Attorney General has stated that Singapore will seek tougher penalties for white-collar criminals. MAS is in full alignment with this.
- MAS
- Monographs/Information Papers
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- Notice 626 and the Guidelines to MAS Notice 626.
- The requirements and manage residual expectations pertaining to EWRA are stipulated in MAS Notices and Guidelines. MAS thematic inspections on EWRA MAS conducted thematic inspections of selected banks in 1Q 2020 to assess the robustness of their EWRA.
- MAS benchmarked practices amongst these banks. Scope of inspection 1. Management oversight of EWRA 2.
- MAS
- Recent Economic Developments
Last revised date:
- Monetary Authority of Singapore Economic Policy Group -------- A.
- Monetary Authority of Singapore 6 Economic Policy Group -------- B.
- Monetary Authority of Singapore 9 Economic Policy Group -------- C.
- MAS
- Speeches
Last revised date:
- Key Resources MAS to Issue up to Five Digital Bank Licences
- MAS will not prescribe a time period within which graduation to a digital full bank must be achieved.
- To ensure high-quality applicants, MAS will set prudent baseline requirements on track record and sustainability of business models. MAS will not allow value-destructive competition to the detriment of long-term financial system stability.
- MAS
- Media Releases
Last revised date:
- Singapore, 13 June 2007...The Monetary Authority of Singapore (MAS) issued a consultation paper today setting out the proposed regulatory framework for insurance securitisation. Through securitisation, insurers can transfer insurance risk directly to the capital market.
- participate in insurance securitisation as investors of ILS, and to report to MAS information like their aggregate exposure to ILS. 3 Interested parties should forward their comments on the proposals in the consultation paper to MAS by 12 July 2007.
- The consultation paper is available on the MAS website. ( Click here to view the consultation paper (70.9 KB) ) ***