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- Media Releases
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- Singapore, 13 February 2012…The Monetary Authority of Singapore (MAS) is conducting a review on the regulatory oversight of the over-the-counter (OTC) derivatives 1 market in Singapore and is seeking public comments on its proposals: Consultation Paper On Proposed Regulation of OTC Derivatives (9.96 KB) 2 In developing these proposals, MAS has taken into consideration international developments such as the commitment pledged by the Group of Twenty Finance Ministers and Central Bank Governors
- MAS
- Media Releases
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- Singapore, 13 October 2015…Singapore and China today agreed on new initiatives to further promote the international use of the Renminbi (RMB) through Singapore. The agreement was reached at the 12th Joint Council for Bilateral Cooperation (JCBC), co-chaired by Singapore Deputy Prime Minister and Coordinating Minister for National Security, Mr Teo Chee Hean, and People’s Republic of China Vice Premier of the State Council, Mr Zhang Gaoli. 2 The new initiatives will broaden the cross-border RMB channels
- MAS
- Enforcement Actions Media Releases
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- Singapore, 11 May 2022… The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $100,000 on Mdm Tan Su Lan for false trading in the shares of Aspial Corporation Limited (ACL) and Far East Orchard Limited (FEOL) 1 . 2. Mdm Tan had executed her trades in a manner that was likely to create a false appearance with respect to the price of the shares, and was reckless as to whether the trades would be likely to create such a false appearance. In doing so, she had contravened section 197
- MAS
- Circulars
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- Information regarding the treatment of refinancing under the borrowing limits in the Property Fund Guidelines under Appendix 2 of the Code on Collective Investment Schemes . Circular No.: CMD 01/2009 9 January 2009 [To all REIT Managers & Trustees approved under Section 289 of the Securities & Futures Act] Dear Sir/Madam TREATMENT OF REFINAN CING UNDER THE AGGREGATE LEVERAGE LIMIT The Monetary Authority of Singapore (the Authority) has received requests to facilitate
- MAS
- Media Releases
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- Singapore, 19 December 2018…The Monetary Authority of Singapore (MAS) announced today that it has increased the ban against Mr Tim Leissner to a lifetime Prohibition Order (PO). This follows Mr Leissner’s admission to criminal charges brought against him by the United States Department of Justice (US DOJ). 2 On 13 March 2017, MAS had issued a 10-year PO against Mr Leissner, a former director of Goldman Sachs (Singapore) Pte., to prohibit him from (i) performing any regulated activity under the
- MAS
- Staff Papers
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- MAS Staff Paper No. 35, November 2004 - By Pei Sai Fan Abstract This paper builds on the earlier MAS staff paper published by the same author in March 2004 by updating the recent empirical research on corporate governance and examines at length the issue of board diversity in section 7 to 10. Board diversity refers to differences or variation in the age, gender, ethnicity, culture, religion, constituency representation, professional background, knowledge, technical skills and expertise, commercial
- MAS
- Media Releases
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- All will come into effect on 31 Dec 1999 Singapore, 28 December 1999... MAS today announced the introduction of the Insurance Intermediaries Act which will come into effect on 31 Dec 1999. At the same time, the Authority also issued the Insurance Intermediaries Regulations 1999 and Insurance (Amendment) Regulations 1999. Both regulations will take effect from 31 December 1999. 2 Passed in August 1999, the Insurance Intermediaries Act aims to promote greater professionalism in the insurance industry
- MAS
- Enforcement Actions
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- Singapore, 15 March 2021… Mr Wong Leon Keat (Mr Wong) was sentenced on 12 March 2021 to a total of eight weeks’ imprisonment Mr Wong filed a notice of appeal against the imprisonment sentences on 12 March 2021. and a fine of $30,000 for false trading and deceiving a brokerage firm while trading in the shares of Gaylin Holdings Limited (Gaylin). He was convicted on 11 February 2021 and his conviction was the result of a joint investigation conducted by the Monetary Authority of Singapore (MAS) and
- MAS
- Media Releases
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- Singapore, 14 November 2013…The Monetary Authority of Singapore (MAS) announced today that an assessment under the International Monetary Fund (IMF)’s Financial Sector Assessment Programme (FSAP) 1 has found Singapore’s financial sector to be well-regulated and highly developed. 2 The assessment by the IMF affirms Singapore’s standing as a sound and stable financial centre. Some highlights in the report 2 include: Singapore presents a very high level of compliance with international standards for
- MAS
- Media Releases
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- Singapore, 25 January 2016… The Monetary Authority of Singapore (MAS) has taken civil penalty action under the Securities and Futures Act (SFA) against Mr Wong Teck Kui for insider trading in the shares of Time Watch Investments Limited (TWI). Mr Wong has admitted to contravening section 219(2)(a) of the SFA and has paid MAS a civil penalty of $110,000 without court action. 2 On 17 and 18 January 2011, Mr Wong, an appointed representative with UOB Kay Hian Private Limited (UOBKH), purchased a total