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- MAS
- Consultations
Last revised date:
- recipients of MAS inspection reports, to align with other MAS-administered Acts.
- MAS Response 3.2 MAS has taken into account the feedback received and will retain the existing definition.
- Asset Maintenance MAS has proposed to provide for MAS to issue asset maintenance requirements on insurers without any pre-condition, in order for MAS to take pre-emptive measures for supervisory purposes.
- MAS
- Consultations
Last revised date:
- FIs should continue to update MAS of such incidents per the MAS incident reporting template.
- Comments on any other aspects of BCM that warrant further guidance from MAS: We note that MAS Guidelines on Outsourcing make reference to the MAS BCM Guidelines.
- Annex B, Paragraph 5.11: Notification to MAS on disruption of critical business function We would like MAS to advise/share the instructions on incident notification and reporting to MAS. 2.
- MAS
- Consultations
Last revised date:
- by MAS under any written law3.
- Part I of MAS Response and Part II of MAS Response were issued on 8 September 2009 and 28 January 2010, respectively. In Part II of MAS Response, we stated we had decided to issue a revised package of proposals.
- MAS Response 1.1.26 MAS recognises that CIS offered in Singapore have diverse structures and involve varying degrees of complexity.
- MAS
- Consultations
Last revised date:
- MAS Response 2.2 The amendments to the MAS Act are expected to come into force around mid-2015.
- Such inspections may be conducted with MAS written approval only if the conditions in the MAS Act are satisfied.
- Currently, these powers are mostly found in the various MAS-administered Acts. The MAS Act will be amended to allow MAS to inspect FIs on their compliance with the directions issued or regulations made pursuant to sections 27A and 27B of the MAS Act.
- MAS
- Consultations
Last revised date:
- MAS response 3.7 MAS recognises that the requirement for retail closed-end funds to be listed will entail additional costs.
- MAS response 2.3 MAS would like to clarify that the proposed requirement will only apply to the directors and key executives of the manager.
- Comments of wider interest and MAS' responses are set out below.
- MAS
- Consultations
Last revised date:
- MAS will only publish non-anonymous submissions.
- MAS Response 3.6 solvency requirement. In view of the supportive feedback received, MAS will proceed with the proposed 3.7 MAS recognises that RMOs typically pose little financial risks to other entities in the financial system.
- MAS Response 2.6 MAS has considered whether the calculation of annual operating costs should be based on an average of total operating costs over a number of past years.
- MAS
- Consultations
Last revised date:
- MAS' Response: MAS recognizes the need to balance the administrative cost of paying compensation against the amount of compensation due to unit-holders.
- Written comments may be submitted to: Corporate Finance Division Securities and Futures Supervision Department Monetary Authority of Singapore 10 Shenton Way MAS Building Singapore 079117 Email: cisvaluation@mas.gov.sg Fax: (65) 6225-1350 MAS requests that all comments and feedback
- MAS' Response: As this is a commercial matter for the managers, MAS would leave it to the managers to decide if they wish to recover their losses from investors who have benefited from valuation errors.
- MAS
- Consultations
Last revised date:
- Monetary Authority of Singapore 11-24 --------
- [MAS Notice 637 (Amendment) 2011] Monetary Authority of Singapore 11-12 -------- to provide financial support for securitised assets.
- [MAS Notice 637 (Amendment) 2011] (g) (h) (i) By significant geographic area: (i) amount of classified loans under MAS 612; (ii) amount of past due loans under MAS 612; and (iii) individual and collective impairment allowances, where feasible.
- MAS
- Notices
Last revised date:
- Notice No MAS 1118 MAS 1119 MAS 655 MAS 655A MAS 834 FAA-N21 MAS 132 2. Any financial holding company 3. Any bank 4. Any credit card or charge card issuer 5. Any finance company 6. Any licensed financial adviser 7.
- MAS Response 2.8 MAS will not issue the Notice to the foreign-incorporated RMOs, foreign- incorporated RCHs, and LFTRs.
- Some respondents also suggested to align with the definition used in the MAS Outsourcing Guidelines. MAS Response 10.2 MAS noted the industry feedback and will only require relevant entities to protect their customer information.
- MAS
- Notices
Last revised date:
- Notice No MAS 1118 MAS 1119 MAS 655 MAS 655A MAS 834 FAA-N21 MAS 132 2. Any financial holding company 3. Any bank 4. Any credit card or charge card issuer 5. Any finance company 6. Any licensed financial adviser 7.
- MAS Response 2.8 MAS will not issue the Notice to the foreign-incorporated RMOs, foreign- incorporated RCHs, and LFTRs.
- Some respondents also suggested to align with the definition used in the MAS Outsourcing Guidelines. MAS Response 10.2 MAS noted the industry feedback and will only require relevant entities to protect their customer information.