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- Singapore, 30 August 2006...The Monetary Authority of Singapore (MAS) has released a consultation paper proposing several changes to existing requirements in MAS Notice 307 (Investment-Linked Life Insurance Policies). 2 The proposals seek to facilitate the offering of cost-effective Investment-Linked
- Both MAS Notice 307 and the consultation paper can be found on the MAS website. Please click here to view the Consultation Paper (396.7 KB) The consultation period will end on 30 September 2006. ***
- or recently terminated ILP sub-funds; and d) The acceptable mode of communication for post-sale disclosure documents to policyholders. 3 MAS invites interested parties to forward their comments on the proposals in the consultation paper.
- MAS
- Media Releases
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- Singapore, 5 May 2004...The Monetary Authority of Singapore (MAS) today issued regulations to set out the implementation details of the policy to separate financial and non-financial business of a bank, and to unwind cross-shareholdings within the local banking groups (i.e. the anti-commingling policy
- Banks are not allowed to hold major stakes in non-financial businesses, and all such stakes have to be divested by the deadline set by MAS 3 .
- Amendments to the Banking Act giving legislative effect to this policy came into force on 18 Jul 2001. 2 Banks are prohibited from acquiring or holding a major stake in any company without prior approval from MAS.
- MAS
- Media Releases
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- Singapore, 24 July 2013… The Monetary Authority of Singapore (MAS) has taken civil penalty enforcement action against Mr Lee Wee Soon for contravening sections 197(1)(b) and 198(1) of the Securities and Futures Act (SFA), which prohibit false trading and market manipulation, respectively. 2 On 25 March
- His actions resulted in a profit of $3,645. 4 Mr Lee has paid a civil penalty of $50,000 to MAS without court action.
- (iii) In determining the quantum of civil penalties to seek in such actions, MAS takes into consideration all facts and circumstances relating to the contravention and the contravening person.
- MAS
- Media Releases
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- The Monetary Authority of Singapore (MAS) announced today the establishment of the Steering Committee for SOR Transition to SORA (SC-STS). This committee will oversee an industry-wide interest rate benchmark transition from SOR to SORA.
- The committee will comprise senior representatives from key banks in Singapore, relevant industry associations, and MAS.
- . *** Monetary Authority of Singapore 10 Shenton Way MAS Building Singapore 079117 Telephone: (65) 6225-5577 Annex A: List of SC-STS Members and Representatives Member Representatives (Appointment) Oversea-Chinese Banking Corporation Ltd Mr Samuel Tsien (Group CEO, OCBC Bank and ABS
- MAS
- Media Releases
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- Singapore, 24 May 2006...The Monetary Authority of Singapore (MAS) has issued a consultation paper seeking public feedback on proposed amendments to the Code on Collective Investment Schemes (the "Code").
- The consultation paper can be accessed on the MAS website > Publications > MAS Consultation Paper ( Click here to view ). 4 We continue to review the Code to ensure it remains relevant to industry developments. *** 1 Since March 2005, MAS has allowed UCITS III funds to be offered in Singapore under
- This will accord Singapore funds the same treatment as UCITS III funds [1] . 3 MAS welcomes feedback on the proposed amendments.
- MAS
- Letters to Editor
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- The Monetary Authority of Singapore (MAS) investigates all cases of suspected breaches of securities laws and regulations, regardless of the parties involved. MAS appreciates that there may be interest in the investigations of certain cases and the outcomes.
- Angelina Fernandez (Ms) Director (Communications) Monetary Authority of Singapore
- MAS therefore does not generally comment on our investigations concerning individual institutions or companies. In dealing with regulatory breaches, MAS applies a sanctions framework which calibrates the regulatory actions taken in accordance with the severity and impact of the breach.
- MAS
- Media Releases
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- The Monetary Authority of Singapore (MAS) announced that Mr V K Rajah will be re-appointed to MAS’ Board of Directors. Mr Rajah’s term of appointment will be from 1 November 2017 to 31 May 2020. 2 The members of the MAS Board of Directors are listed in the Annex.
- Monetary Authority of Singapore Annex Board of Directors of the Monetary Authority of Singapore (as of 1 November 2017) Mr Tharman Shanmugaratnam (Chairman) Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Mr Lim Hng Kiang (Deputy Chairman) Minister for
- Tiat President, Council for Estate Agencies Mr Peter Ong Boon Kwee Former Head of Civil Service / Permanent Secretary (Prime Ministers Office) (Strategy) Professor Tan Chorh Chuan President, National University of Singapore Mr V K Rajah Senior Counsel Mr Ravi Menon Managing Director, MAS
- MAS
- Media Releases
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- Singapore, 15 July 2003 ..The Monetary Authority of Singapore (MAS) and the Economic Society of Singapore today launched its third MAS-ESS Essay Competition. The title of this year's competition will be " How can Singapore Remain Competitive in a Globalising World Economy? ".
- the MAS ( ESS ) and ESS ( http://www.ess.org.sg ) websites from 16 July 2003.
- This year's MAS-ESS Essay Competition will run for about six months beginning 15 July 2003.
- MAS
- Media Releases
Last revised date:
- The Monetary Authority of Singapore (MAS) today issued the Technology Risk Management (TRM) Notice and Guidelines. 2 The TRM Guidelines aim to provide comprehensive guidance on the establishment of sound technology risk management and security practices to address existing and emerging technology risks
- This set of enhanced Guidelines replaces the existing MAS Internet Banking and Technology Guidelines as well as past circulars on IT risk management, and applies to all financial institutions (FIs). 3 In addition, MAS has issued a Notice which defines a set of legal requirements relating to technology
- The TRM Notice can be accessed at Regulations and Guidance and the TRM Guidelines at Technology Risk . 5 MAS wishes to thank all respondents for their feedback during the consultation. ***
- MAS
- Media Releases
Last revised date:
- The Monetary Authority of Singapore (MAS) announced that Mr Lim Hng Kiang, Minister for Trade and Industry, has been re-appointed to the MAS Board of Directors, as Deputy Chairman, for a further period of two years with effect from 1 June 2014. 2 Professor Tan Chorh Chuan, President, National University
- of Singapore, has also been re-appointed as a member of the MAS Board of Directors, for a further period of two years with effect from 1 June 2014. 3 The members of the MAS Board of Directors are listed in the Annex. *** Annex Board of Directors of the Monetary Authority of Singapore (as of 1 June
- Quek See Tiat Chairman, Building and Construction Authority Mr Lim Chee Onn Senior International Advisor, Singbridge Private Limited Mr Peter Ong Boon Kwee Permanent Secretary, Ministry of Finance Professor Tan Chorh Chuan President, National University of Singapore Mr Ravi Menon Managing Director, MAS