Showing 5563 Documents for "MAS"
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- MAS
- Parliamentary Replies
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- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1.
- MAS’ operating terms for the new digital banks will be calibrated to maintain the trust and stability that are the hallmarks of Singapore’s banking system. Let me elaborate. 4. First, MAS will carefully evaluate the sustainability of applicants’ business models.
- MAS’ regulatory and supervisory frameworks support the stability of the system as a whole, and help preserve sound practices among individual banks. But MAS, like all financial regulators, cannot guarantee that individual banks will not fail, whether they are digital banks or otherwise.
- MAS
- Parliamentary Replies
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- MAS has published enforcement actions in connection with serious cases, to send a strong deterrent signal. 9. MAS and CAD are continually improving their methods of detection.
- If any bank is found to have weaknesses in anti-money laundering controls, MAS will direct it to rectify them promptly. If there has been a breach of Singapore’s anti-money laundering requirements, MAS will take enforcement action. 5.
- For financial institutions at higher risk of being exposed to money laundering, MAS takes a more intrusive approach. MAS directs the financial institutions to take remedial actions, and ensures they report on their implementation of the measures. 8.
- MAS
- Media Releases
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- Singapore, 8 March 2010...The Monetary Authority of Singapore (MAS) today announced a new organisation structure along with the appointment of seven new Assistant Managing Directors.
- The new structure will enable MAS to respond more effectively to the rapidly changing economic and financial landscape.
- The appointment of additional Assistant Managing Directors will better support the Managing Director and the Deputy Managing Directors in delivering MAS' operational and strategic goals. 3 MAS currently supervises all activities in the banking, insurance and capital markets.
- MAS
- Media Releases
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- MAS will take firm and appropriate regulatory action where there are breaches of law or regulations by the FIs or their representatives. 9 MAS will continue to keep investors updated on the resolution process. ***
- The independent parties are actively reviewing the FIs’ complaints handling processes to determine whether they meet MAS’ expectations. MAS has also asked the FIs and the independent parties to provide us with regular updates on the status of the complaints handling process.
- Singapore, 10 October 2008...MAS today released more details on the resolution process and timeline for investors in structured products linked to Lehman Brothers.
- MAS
- Speeches
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- Following Parliament’s resolution to fix the maximum amount of grants that MAS can allocate to the IMF’s PRGT and CCRT, MAS will publish in the Gazette key information about the grants.
- First, MAS will provide financial assistance only as part of a collective action among IMF member countries; b. Second, in the interest of transparency, MAS will disclose publicly key information about the financial assistance; and c.
- Before the amendments, MAS had powers to provide only loans and interest-free deposits to the IMF. 5 To recapitulate, the Bretton Woods Agreement Act (“BWAA”) institute the following safeguards that apply when MAS makes grants to the IMF: a.
- MAS
- Consultations
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- The SFA was enacted after a comprehensive review of Singapores securities and futures legislation by the Monetary Authority of Singapore (MAS).
- Written comments may be submitted to: Market Conduct Policy Division Market and Business Conduct Department Monetary Authority of Singapore 10 Shenton Way MAS Building Singapore 079117 Email: sf_amdt03@mas.gov.sg Fax: (65)6225-9766 MAS would request that all comments and feedback
- list of MAS has also proposed a number of amendments to the 7 other Parts of the SFA to improve drafting, make technical or consequential amendments and institute minor policy changes. MAS seeks your views on these technical amendments.
- MAS
- Monographs/Information Papers
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- This was run on MAS servers and connected to MAS nodes. 3. Connectivity of the DL network to MEPS+ The DL network was connected to a development instance of MAS real-time gross settlement systems, MEPS+, using a SWIFT Simulator.
- for the participating banks All stash balances visible to MAS node.
- MAS is Singapores central bank and financial regulatory authority. MAS acts as a settlement agent, operator and overseer of payment, clearing and settlement systems in Singapore that focus on safety and efficiency.
- MAS
- Enforcement Actions
Last revised date:
- SCBS had pro-actively notified MAS of its internal review on the trust accounts, and SCBS and SCTS management showed strong commitment to address the deficiencies identified by MAS.
- The Monetary Authority of Singapore (MAS) announced today that it has imposed penalties of S$5.2 million on Standard Chartered Bank, Singapore Branch (SCBS) and S$1.2 million on Standard Chartered Trust (Singapore) Limited (SCTS).
- The penalties were for breaches of MAS’ anti-money laundering and countering the financing of terrorism (AML/CFT) requirements. 1 These breaches occurred when trust accounts of SCBS’ customers were transferred from Standard Chartered Trust (Guernsey) to SCTS from December 2015 to January 2016. 2 MAS
- MAS
- Media Releases
Last revised date:
- SCBS had pro-actively notified MAS of its internal review on the trust accounts, and SCBS and SCTS management showed strong commitment to address the deficiencies identified by MAS.
- The Monetary Authority of Singapore (MAS) announced today that it has imposed penalties of S$5.2 million on Standard Chartered Bank, Singapore Branch (SCBS) and S$1.2 million on Standard Chartered Trust (Singapore) Limited (SCTS).
- The penalties were for breaches of MAS’ anti-money laundering and countering the financing of terrorism (AML/CFT) requirements. 1 These breaches occurred when trust accounts of SCBS’ customers were transferred from Standard Chartered Trust (Guernsey) to SCTS from December 2015 to January 2016. 2 MAS
- MAS
- Parliamentary Replies
Last revised date:
- MAS has also been issuing prohibition orders (POs) to persons who have been convicted of offences involving dishonesty. MAS notifies all FIs when a person has been issued a PO and publishes such POs on the MAS website.
- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1. MAS expects financial institutions (FIs) to recruit and retain persons who are fit and proper to conduct regulated financial activities and hold key roles in FIs.
- In each case, MAS carefully weighs the need to protect financial services users against giving reformed individuals a second chance. 5. MAS does not maintain a database of all persons convicted by the courts of offences involving dishonesty.