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- The SFC also sought MAS' help to obtain certain documents and interview the persons investigated by the SFC. 3 MAS informed the SFC that no offence had been committed in Singapore, as the dealing in securities had taken place in Hong Kong.
- We explained that should IDT seek to enforce any penalty in Singapore, it could face considerable legal difficulty, but the issue would be settled by the Singapore High Court. 4 MAS also advised the SFC that MAS did not have legal powers to compel the persons concerned to attend interviews by the SFC
- But to the extent permitted under Singapore law, MAS will cooperate with and extend assistance to the SFC and other regulatory bodies.
- MAS
- Media Releases
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- The intersection of Distributed Ledger Technology (DLT) and other related technology areas such as quantum computing and new methods of cryptography will help to bring about the next wave of innovation.” *** About the Monetary Authority of Singapore The Monetary Authority of Singapore (MAS) is Singapore
- Singapore, 14 November 2017 … The Monetary Authority of Singapore (MAS) today announced it has joined the Massachusetts Institute of Technology (MIT) Media Lab in Cambridge, Massachusetts. 2 This collaboration will also help to strengthen Singapore’s talent pool in the FinTech industry, by providing
- We are excited to work with an organization like the MAS which shares our thinking around the impact of open-source, layered architectures and permissionless systems.” 5 Sopnendu Mohanty, Chief FinTech Officer, MAS, said, “We are pleased to be working with leading experts with a diverse range of expertise
- MAS
- Media Releases
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- The Monetary Authority of Singapore (MAS) issued for consultation today proposed regulations to require the trading of over-the-counter (OTC) derivatives on organised markets, to help improve market transparency.
- This requirement will complete MAS’ implementation of the G20 OTC derivatives reforms. 2 MAS proposes to impose obligations for the most globally-traded OTC derivatives, namely interest rate swaps denominated in US Dollar, Euro and Pound Sterling to be traded on organised markets, i.e. exchanges or
- MAS plans to seek equivalence determinations from the US and EU for exchanges and other centralised trading facilities in Singapore.
- MAS
- Media Releases
Last revised date:
- Singapore, 13 March 2014 … The Monetary Authority of Singapore (MAS) said today that it will regulate virtual currency intermediaries in Singapore to address potential money laundering and terrorist financing (ML/TF) risks. 2 Virtual currency transactions, given their anonymous nature, are particularly
- Consumers and businesses may not be able to obtain a refund of their monies should virtual currency schemes or intermediaries cease to operate. 5 Deputy Managing Director of MAS, Mr Ong Chong Tee, said, “MAS is taking a targeted regulatory approach to virtual currencies to specifically address money
- MAS will continue to monitor closely the development and implications of virtual currencies as well as evolving regulatory approaches taken towards virtual currencies by major jurisdictions.
- MAS
- Letters to Editor
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- Dear Editor, We thank Mr Rajagopalan Krishnamoorthy for his feedback on the dividend restrictions on local banks announced by the Monetary Authority of Singapore (MAS) on 29 July 2020 (“MAS request of banks not fair to retail investors”, 10 August 2020). 2 Mr Krishnamoorthy asked if it was necessary
- Jerome Lee Director (Corporate Communications) Monetary Authority of Singapore
- for MAS to intervene in the local banks’ dividend payouts, and if such a move required shareholders’ consent.
- MAS
- Parliamentary Replies
Last revised date:
- These are outside of MAS’ regulatory oversight. Investors that trade on these platforms need to exercise caution and understand the risk of such products . 5 MAS has also issued advisories to warn members of the public of the risks of investing in crypto products.
- derivatives for Approved Exchanges (a) whether MAS will establish a timeline for eventually imposing regulations on non-approved exchanges; and (b) whether MAS will issue guidelines to financial institutions offering crypto derivatives for retail investors and, if so, whether these guidelines will apply
- MAS is watching these developments closely and is participating actively in international regulatory discussions on how the risks posed by crypto products are best addressed . ***
- MAS
- Media Releases
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- The detailed response to the feedback received can be found on the MAS website . MAS thanks the public for their feedback. ***
- MAS expects financial institutions to observe the guidelines as this will be taken into account in MAS’ risk assessment of the financial institutions. .
- Singapore, 6 August 2019… The Monetary Authority of Singapore (MAS) today issued a set of legally binding requirements to raise the cyber security standards and strengthen cyber resilience of the financial sector.
- MAS
- Parliamentary Replies
Last revised date:
- Thus far, MAS has not issued any licence to DPT service providers, but several applications are in the final stages of review. 4 MAS closely scrutinises all applications and considers various factors.
- The exemption remains in force until the applications are approved or rejected by the Monetary Authority of Singapore (MAS) or withdrawn by the applicant. 2 There are currently around 90 DPT service providers that operate under this exemption.
- To date, 30 DPT applications (or 18%) have been withdrawn after engagement with MAS and two have been rejected.
- MAS
- Media Releases
Last revised date:
- 26 Jan 1999...Members of the Monetary Authority of Singapore's International Advisory Panel (MAS IAP) endorsed Singapore's financial sector reforms and strategies at the close of their one-and-a-half day inaugural meeting at the MAS.
- This morning, they discussed the key conclusions of their deliberations with the Chairman of the MAS, Deputy Prime Minister Lee Hsien Loong.
- APPENDIX MEMBERS OF THE MAS INTERNATIONAL ADVISORY PANEL Mr J Y Pillay (Chairman) Member of the Board of Directors of MAS Mr Alfred R Berkeley President The Nasdaq Stock Market, Inc Dr Rolf-E Breuer * Spokesman of the Board of Managing Directors Deutsche Bank AG Mr Maurice R Greenberg Chairman American
- MAS
- Parliamentary Replies
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- When MAS briefed its International Advisory Panel (IAP) on its plans, the IAP agreed with MAS' policy of liberalisation. The IAP also agreed on the importance of having strong local players after we liberalise.
- However, the IAP felt that five years was not ambitious enough, and recommended the MAS consider speeding up the process. 3 The MAS is now working out the specific liberalisation measures and will take the IAP's views into account.
- Authority of Singapore International Advisory Panel (IAP). 1 The MAS is liberalising the domestic banking sector, to allow greater access to foreign institutions and a freer play of competitive forces.