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- MAS
- Parliamentary Replies
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- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1. MAS has been closely monitoring developments in the international commodity markets and the broader external environment, and their potential impact on Singapore’s financial system. 2.
- There is no need for MAS to provide liquidity to commodity firms, and MAS would at most times prefer not to engage in direct provision of liquidity to corporate borrowers. The banking system continues to provide credit to the commodity trading sector to meet firms’ liquidity needs.
- MAS will continue to engage key banks to ensure they are working with borrowers to manage these risks as the situation evolves. 6.
- MAS
- Parliamentary Replies
Last revised date:
- Answer by Mr Alvin Tan, Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth, and Board member of MAS, on behalf of Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1. MAS began tightening monetary policy in October 2021.
- MAS expects core inflation to stay firm for the rest of this year and into the first half (H1) of 2023, before slowing more discernibly in H2. 3. Monetary policy takes time to affect inflation. The effects of MAS’ successive monetary policy moves are still working their way through the economy.
- MAS will continue to deploy monetary policy as appropriate, to ensure medium-term price stability while recognising near-term risks to economic growth from a slowing global economy. 5.
- MAS
- Circulars
Last revised date:
- The objectives of the amendments are to enhance MAS supervisory powers in achieving our objectives, clarify existing policy positions, align the Insurance Act with other MAS-administered Acts in common areas, and remove obsolete provisions. 2 MAS would like to thank all respondents
- The Amendment Regulations are available on the MAS website (www.mas.gov.sg). Please contact your companys liaison officer in MAS should you require further clarification.
- ID 17/13 18 April 2013 To Chief Executives All Insurers Dear Sir/Madam AMENDMENT OF THE INSURANCE ACT (CHAPTER 142) AND CONSEQUENTIAL AMENDMENTS TO SUBSIDIARY LEGISLATION In September 2012, the Monetary Authority of Singapore (MAS) issued a consultation
- MAS
- Parliamentary Replies
Last revised date:
- It is co-chaired by MAS and the Commercial Affairs Department (CAD) and is supported by a steering group comprising nine banks and the Association of Banks in Singapore (ABS).
- MAS taps on information from a wide range of sources to detect suspicious financial activities, including reports filed by financial institutions (“FIs”) and intelligence from our overseas counterparts.
- ACIP is co-chaired by MAS and the Singapore Police Force’s Commercial Affairs Department and brings together key FIs to share analyses of emerging ML/TF risks as well as information on specific cases.
- MAS
- Consultations
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- MAS' Response MAS' Response MONETARY AUTHORITY OF SINGAPORE 06 January 2005 LIST OF RESPONDENTS TO PUBLIC CONSULTATION ON BUSINESS TRUSTS REGULATIONS Allen & Gledhill Drew & Napier LLC Institute of Certified Public Accountants of Singapore Rajah & Tann Singapore Association of the Institute
- Under the BT Bill, MAS is empowered to prescribe certain requirements in Regulations.
- Response VIEW DOCUMENT Response to Feedback: Business Trusts Regulations (95.5 KB) Consultation Paper VIEW DOCUMENT Consultation Paper on Business Trusts Regulations (555.3 KB) CONSULTATION ON BUSINESS TRUSTS REGULATIONS - MAS' RESPONSE TO FEEDBACK RECEIVED On 11 August 2004, MAS issued for public
- MAS
- Notices
Last revised date:
- MAS Notice 1005 29 December 2017 Last revised on 15 March 2021 NOTICE TO MERCHANT BANKS MONETARY AUTHORITY OF SINGAPORE ACT, CAP. 186 (MAS Notice 1005 dated 11 March 2005 is cancelled.)
- Amendment Notes 01 Jul 2021 MAS Notice 1005 dated 29 June 2021 takes effect. 01 Jul 2021 MAS Notice 1005 dated 29 December 2017 (last revised on 15 March 2021) (240.7 KB) is cancelled . 16 Mar 2021 MAS Notice 1005 (Amendment) 2021 (245.5 KB) takes effect. 01 Jan 2018 MAS Notice 1005 dated 29 December
- 2017 (358.9 KB) takes effect. 01 Jan 2018 MAS Notice 1005 dated 11 March 2005 (41.3 KB) is cancelled. 14 Mar 2005 MAS Notice 1005 dated 01 November 1985 is cancelled.
- MAS
- Enforcement Actions
Last revised date:
- Singapore, 16 February 2017… The Monetary Authority of Singapore (MAS) has successfully obtained civil penalties of $100,000 each against Chionh Teow Hie John (Chionh) and Kiew Yoon Seng (Kiew) for contraventions under the Securities and Futures Act (SFA).
- Kiew and Lee’s deceptive conduct thereby contravened section 201(b) of the SFA. 6 Lee admitted to contravening section 201(b) of the SFA and paid MAS a civil penalty of $50,000 in a separate out-of-court settlement in January 2013.
- Civil Penalty Orders 7 MAS commenced civil penalty actions in the State Courts of Singapore against Chionh for contravening sections 197(1) and 197(2) of the SFA, and against Kiew for contravening sections 197(1) and 201(b) of the SFA.
- MAS
- Speeches
Last revised date:
- To facilitate this, MAS has encouraged Islamic finance training providers to tie-up with Singapore-based educational institutes to meet this rising demand. MAS’ financial training schemes also cover courses in Islamic finance.
- Thirdly, to foster international standards and co-operation, MAS has participated in international Islamic financial organisations to build capabilities, and contribute to developmental and standard setting initiatives for the industry.
- MAS is a Council member of the Islamic Financial Services Board (IFSB) and is involved in the standard setting and industry developmental work of the organisation. In 2009, Singapore became the first East Asian country to host the IFSB Summit.
- MAS
- Media Releases
Last revised date:
- Singapore, 16 February 2017… The Monetary Authority of Singapore (MAS) has successfully obtained civil penalties of $100,000 each against Chionh Teow Hie John (Chionh) and Kiew Yoon Seng (Kiew) for contraventions under the Securities and Futures Act (SFA).
- Kiew and Lee’s deceptive conduct thereby contravened section 201(b) of the SFA. 6 Lee admitted to contravening section 201(b) of the SFA and paid MAS a civil penalty of $50,000 in a separate out-of-court settlement in January 2013.
- Civil Penalty Orders 7 MAS commenced civil penalty actions in the State Courts of Singapore against Chionh for contravening sections 197(1) and 197(2) of the SFA, and against Kiew for contravening sections 197(1) and 201(b) of the SFA.
- MAS
- Exemptions
Last revised date:
- MAS granted an exemption to an AHC from Regulations 6(1)(a), 6(1)(b), 8, 9, 13, 14, 15 and 16 of the SF(CG)R, as the AHC does not carry on any business activities other than holding two regulated entities.
- AND FUTURES ACT (CAP. 289) (SFA) For the period from 1 January 2018 to 31 March 2018 S/N Exemption granted Exemption provision Description No. of exemptions provided 4 Date of exemption granted 22 January 2018 31 January 2018 2 February 2018 8 March 2018 MAS
- licence for fund management Exemption for an Approved Holding Company (AHC) 2 3 11 February 2018 7 Section 99(1)(h) of the SFA, read with section 337(2) of the SFA 1 23 February 2018 Regulation 17 of the Securities and Futures (Corporate Governance of Approved MAS