Definition of “business trust”
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A business trust is a business enterprise structured as a trust. A business trust (“BT”) is a business enterprise structured as a trust....
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- MAS
- Media Releases
Last revised date:
- Singapore, 9 April 2020… The Monetary Authority of Singapore (MAS) announced today that it will extend the assessment period for the award of digital bank licences. Successful applicants will be informed in 2H 2020 instead of June 2020 as originally intended. 2 In January 2020, MAS released an update that it had received 21 applications for digital bank licences and planned to announce the successful applicants in June 2020. The global escalation of the COVID-19 pandemic since then has prompted
- MAS
- Speeches
Last revised date:
- Mr Karl Hamann, President of the GIA Distinguished Guests, Ladies and gentlemen, 1 A very good afternoon. It is my pleasure to be here at the GIA Annual Luncheon. 2 Let me begin by congratulating Mr Karl Hamann for being elected the new President of GIA, and Ms Stella Tan as Vice-President for another term. This is a vote of confidence in your capabilities and recognition of your continued sterling contributions to the general insurance industry. I am confident that Karl and Stella will be
- MAS
- Speeches
Last revised date:
- 1 Good morning ladies and gentlemen. 2 It is indeed my pleasure to join you at this inaugural Appointed Actuaries Symposium. Until today, I have not had the opportunity to meet so many actuaries at the same time. Some of you may know that MAS was seeking to hire actuaries last year as our only two actuaries decided to return to the industry. Now, I know where to look. 3 Allow me to thank the Singapore Actuarial Society (“SAS”) for organising this event in Singapore. I am told that such
- MAS
- Speeches
Last revised date:
- Mr Christian Noyer, Governor of Banque de France, Distinguished guests, Ladies and gentlemen, Good morning. For those of you who are coming from abroad, a warm welcome to Singapore. Deleveraging out of a debt overhang 1 Molière, a French playwright considered to be one of the greatest masters of comedy, once offered this sobering thought: “Debts are like children; begot with pleasure and brought forth in pain” . Today, the pain he described is palpitating throughout the world and keeping
- PDPC
- Public Consultations
Last revised date:
- PDPC’s Public Consultation on Proposed Data Portability and Data Innovation Provisions By: Gary Tan Date: 24th Jun 2019 Contact: garytkq@gmail.com -------- Q1. What are your views on the impact of data portability, specifically on consumers, market and economy? In reference to the proposed obligation and phrasing in 2.14 in page 7, it should preferably not be made mandatory for one organisation to port data to another organisation. Rather, the data can be sent to the consumer.
- MAS
- Media Releases
Last revised date:
- Singapore, 7 January 2020… The Monetary Authority of Singapore (MAS) announced today that it has received 21 applications for digital bank licences as at the close of application on 31 December 2019. This comprises 7 applications for the digital full bank (DFB) licences, and 14 applications for the digital wholesale bank (DWB) licences. 2 The new digital bank licences have attracted strong interest from a diverse group of applicants. These include e-commerce firms, technology and telecommunications
- MAS
- Speeches
Last revised date:
- Date : 9 Jan 2002 Disclosure and Corporate Governance Challenges in Moving Ahead Chairman and Members of the 28th Annual Report Award Committee, Distinguished guests, Ladies and Gentlemen, 1 It is a pleasure to be here tonight at the 28th Annual Report Award Dinner. After more than a quarter of a century, the Award remains, more than ever, a mark of prestige that Singapore companies aspire to gain. Its objective of promoting corporate transparency and disclosure has become more vital as our
- MAS
- Speeches
Last revised date:
- Mr Michael Morrissey, President & CEO, International Insurance Society Distinguished delegates 1. Let me first say how pleased we at the MAS are that you have chosen to hold your meeting in Singapore. We are especially humbled by your decision to host the meeting in Singapore in rotation with New York and London, henceforth, so that we meet in Asia, in Singapore, once every three years. 2. It’s a challenging time for the insurance industry, and more broadly, for everyone involved in the business
- MAS
- Guidance
Last revised date:
- MAS conducted an industry-wide survey of CFT-related controls, and followed up with a series of thematic reviews to assess FIs’ TF risk understanding and examine the effectiveness of their CFT-related controls. This paper sets out MAS’ key observations, and highlights our supervisory expectations that FIs should review against their own controls. FIs should benchmark themselves against the practices and supervisory expectations set out in this paper in a risk-based and proportionate manner, and conduct
- MAS
- Media Releases
Last revised date:
- Singapore, 20 October 2017… The Monetary Authority of Singapore (MAS) announced today that a simplified regulatory regime for managers of venture capital funds (VC managers) will come into immediate effect, following public consultation on the proposal earlier this year. 1 2 The new regulatory regime will simplify and shorten the authorisation process for VC managers. MAS will no longer require VC managers to have directors and representatives with at least five years of relevant experience in