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- 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, 7 March 2018... The Monetary Authority of Singapore (MAS) has proposed measures to address the risks associated with large scale movement of financial advisory (FA) representatives from one FA firm to another. These measures, set out in a paper for public consultation, seek to safeguard the interests of consumers by promoting more responsible recruitment practices in the FA industry. 2 The recent mass recruitment of representatives by FA firms from competitors was accompanied by sizeable
- 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
- PDPC
- Public Consultations
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- Canon Singapore Pte. Ltd. Public Consultation on the Proposed Business Operation of the Do Not Call Registry by Personal Data Protection Commission, Singapore (“PDPC”) dated 15 May 2013 Annex Question 2 CSPL Comment: We would like to clarify whether only one contact person be registered under the main account? From a corporate governance perspective, it may not be prudent to leave the administration/contact of the main-account to only one
- MAS
- Consultations
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- Response VIEW DOCUMENT Response to Feedback Received on Review of Accident and Health Regulatory Framework (396.7 KB) Consultation Paper VIEW DOCUMENT Consultation Paper on Review of Accident & Health Regulatory Framework (632.8 KB) RESPONSE TO FEEDBACK RECEIVED October 2015 Response to feedback received Review of Accident & Health Regulatory Framework Monetary Authority Of Singapore 1 -------- RESPONSE TO FEEDBACK RECEIVED ON REVIEW OF A&H REGULATORY FRAMEWORK 30 OCTOBER
- MAS
- Media Releases
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- Singapore's Robust Financial System Gets Strong Endorsement from IMF Singapore, 27 April 2004...The International Monetary Fund (IMF) has affirmed the robustness of Singapore's financial system and the soundness of Singapore's legal, supervisory and institutional framework. The Financial System Stability Assessment (FSSA 1 ) report published today highlights that Singapore's financial sector is resilient and robust and commends Singapore's high degree of observance of international standards and
- MAS
- Enforcement Actions
Last revised date:
- Singapore, 14 October 2015 The Monetary Authority of Singapore (MAS) has taken civil penalty action against Mr Vincent Rajiv Louis for insider trading in the shares of PT Bank Danamon (Danamon) under the Securities and Futures Act (SFA). 2 Mr Rajiv was a Managing Director at UBS AG, Indonesian Branch, and was the Head of its Investment Banking operations when the contravention occurred. On 30 March 2012, Mr Rajiv, who resides in Indonesia, bought one million Danamon shares through his
- MAS
- Media Releases
Last revised date:
- Singapore, 13 November 2018… The Central Bank of Bahrain (CBB) and the Monetary Authority of Singapore (MAS) today signed a Memorandum of Understanding (MOU) to foster innovation in financial services between the two countries. 2 The MOU will support the sharing of information on emerging Fintech trends and developments, and facilitate co-operation on innovation projects in Bahrain and Singapore. The MOU also sets out a common framework to help FinTech companies prepare for regulatory requirements
- MAS
- Enforcement Actions
Last revised date:
- Singapore, 16 March 2020 … The Monetary Authority of Singapore (MAS) has imposed a composition penalty of $400,000 on TMF Trustees Singapore Limited (TTSL) for failure to comply with MAS’ Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements. These failures were identified following an inspection by MAS. TTSL has paid the composition penalty in full and taken prompt remedial actions. 2 MAS found that, between June 2011 to April 2018, TTSL had failed to comply