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- MAS
- Media Releases
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- Singapore, 12 March 2002 .The Monetary Authority of Singapore ('MAS') is seeking industry comments on the following draft documents relating to the Insurance Act: (a) Insurance (Amendment No 2) Regulations; (b) Insurance (Accounts and Statements)(Amendment No 2) Regulations; and (c) A written Notice relating to Code of Conduct for Insurance Brokers and their Broking Staff. 2 The Insurance Intermediaries Act (IIA) will be repealed when the Financial Advisers Act 2001 comes into operation. Provisions
- MAS
- Media Releases
Last revised date:
- Singapore, 20 January 2022 … The Monetary Authority of Singapore (MAS) has imposed a composition penalty of S$1.1 million on Vistra Trust (Singapore) Pte. Limited (VTSPL) for its failures to comply with MAS’ Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements. VTSPL is a trust company, licensed under the Trust Companies Act, whose business activities include the creation of trusts and provision of trustee services. 2 An MAS inspection carried out from April 2019
- MAS
- Enforcement Actions
Last revised date:
- Singapore, 27 January 2022 … The Monetary Authority of Singapore (MAS) has obtained a default judgment against Mr Liao Chun-Te (Mr Liao) to pay a civil penalty of $164,750 for insider trading. Mr Liao had sold shares in Oceanus Group Limited (Oceanus) while in possession of non-public and materially price-sensitive information concerning a proposed rights issue by Oceanus. 2 Oceanus, a company listed on the Singapore Exchange, had on 7 June 2013 announced a rights issue of new ordinary shares (Rights
- MAS
- Enforcement Actions
Last revised date:
- Singapore, 20 January 2022 … The Monetary Authority of Singapore (MAS) has imposed a composition penalty of S$1.1 million on Vistra Trust (Singapore) Pte. Limited (VTSPL) for its failures to comply with MAS’ Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements. VTSPL is a trust company, licensed under the Trust Companies Act, whose business activities include the creation of trusts and provision of trustee services. 2 An MAS inspection carried out from April 2019
- MAS
- Parliamentary Replies
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- For the Parliament Sitting on 2 March 2022 Name and Constituency of MP Gerald Giam Yean Song, Aljunied GRC Question Several residents have approached me for assistance to open bank accounts. They had been rejected by banks because of their implication in financial crimes. They have turned over a new leaf and found honest jobs. However, they are unable to open a bank account for their salary deposits. Employers do not usually agree to deposit into their family members bank accounts and are unwilling
- MAS
- Media Releases
Last revised date:
- Singapore, 30 October 2008…. Today, the Federal Reserve, the Banco Central do Brasil, the Banco de Mexico, the Bank of Korea, and the Monetary Authority of Singapore (MAS) are announcing the establishment of temporary reciprocal currency arrangements (swap lines). These facilities, like those already established with other central banks, are designed to help improve liquidity conditions in global financial markets and to mitigate the spread of difficulties in obtaining U.S. dollar funding in fundamentally
- MAS
- Letters to Editor
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- 15 May 2013 The Editor ST Forum Dear Editor MAS agrees with the view that exams are not the only way to test financial know-how (ST “Cai Jin”, 6 May 2013). However, as the Capital Markets and Financial Advisory Services (CMFAS) examinations are centrally administered by the Institute of Banking and Finance and the Singapore College of Insurance (SCI), they set a common standard and benchmark for representatives, and give consumers the assurance that their representative is competent and qualified
- PDPC
- Public Consultations
Last revised date:
- Section/SubSection Description b) scope of data covered? Comments There is a multitude of user activity data in different format and type (e.g. commuter's top-up payments may be denominated in thousands/dollars/cents or in USD/SGD), there will be operationally challenges in having the receiving organization accurately map and correctly capture the data provided by the porting organisation (notwithstanding that it is in a "machine readable format"). Propose to only have user provided
- MAS
- Enforcement Actions Media Releases
Last revised date:
- Singapore, 23 May 2022… The Monetary Authority of Singapore (MAS) has issued an eight-year prohibition order (PO) against Ms Nancy Tan Mee Khim, following her conviction for consenting to Noble Consulting Group Pte Ltd (Noble) carrying on a business of dealing in securities without holding a capital markets services licence under the Securities and Futures Act 2001 (SFA) . 2. Under the PO, which took effect on 18 May 2022, Ms Tan is prohibited from performing any regulated activity or from taking
- MAS
- Media Releases
Last revised date:
- Singapore, 9 November 2021... The Monetary Authority of Singapore (MAS) today announced three enhancements to its FinTech Regulatory Sandbox framework to further catalyse financial innovation and FinTech adoption. 2 MAS launched the FinTech Regulatory Sandbox in 2016 to encourage and enable experimentation of technology innovation to deliver financial products and services. The Regulatory Sandbox, which is fully bespoke, was enhanced with Sandbox Express in 2019 to provide firms with a faster option