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- Media Releases
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- Singapore, 22 April 2014…The Monetary Authority of Singapore (MAS) and Autoriti Monetari Brunei Darussalam (AMBD) have signed a Memorandum of Understanding (MOU) on bilateral cooperation. 2 Under the MOU, MAS and AMBD will cooperate on capital market development and capacity building, as well as exchange
- Ravi Menon, said, “MAS has longstanding and excellent relations with the AMBD.
- The MOU builds on existing pillars of cooperation, including the Currency Interchangeability Agreement between Brunei Darussalam and Singapore and the bilateral dialogue between MAS and AMBD. 3 MAS Managing Director, Mr.
- MAS
- Media Releases
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- MAS expects other FIs to take a similar approach. MAS also expects FIs to deal with the remaining cases, regardless of the background of the investors, in accordance with the serious and impartial process that has been set out earlier."
- Comments by Mr Heng Swee Keat, Managing Director, Monetary Authority of Singapore, in response to the announcements by DBS Bank, Hong Leong Finance and Maybank: "In our press conference on the sale of structured products to retail investors on 17 October 2008, MAS set out the 3-step resolution process
- MAS also asked FIs to give priority to cases where there are sufficient indications that the product was mis-sold or that it was clearly inappropriate given the investor's profile and circumstances.
- MAS
- Circulars
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- the revised CG Guidelines, and The CG Guidelines are available on the MAS website at this link, and the response to the If you have further queries, please contact your companys liaison officer in MAS.
- response to the feedback received following the consultation on the CG Guidelines. 3 feedback is available at this link. 4 Yours faithfully [sent via MASNET] MARCUS LIM ASSISTANT MANAGING DIRECTOR BANKING AND INSURANCE Today, the Monetary Authority of Singapore (MAS) issued
- Informs locally incorporated insurers on the issuance of the revisions to the Guidelines on corporate governance for designated financial holding companies, banks, direct insurers, reinsurers, and captive insurers which are incorporated in Singapore ("CG Guidelines"), and MAS’ response to the feedback
- MAS
- Media Releases
Last revised date:
- Singapore, 27 November 2020… The Monetary Authority of Singapore (MAS) and the China Banking and Insurance Regulatory Commission (CBIRC) held their annual MAS-CBIRC Supervisory Roundtable today.
- The Roundtable was chaired by MAS’ Deputy Managing Director Mr Ong Chong Tee and CBIRC’s Vice Chairman Mr Zhou Liang.
- This close partnership between MAS and CBIRC will reinforce stability and confidence as our financial institutions grow and develop in Singapore and China.” ****
- MAS
- Speeches
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- MAS is aware that it has to continue strengthening its own capabilities to keep abreast with the rapid changes in the global financial markets. The pace of change and the demands on MAS' resources, expertise and judgement will only intensify.
- A workgroup comprising representatives from the Singapore Actuarial Society, Institute of Certified Public Accountants of Singapore and MAS officials was formed to review the valuation and solvency requirements for life insurance business in Singapore.
- For instance, as part of an overall approach to enhance the efficiency of distribution channels in Singapore, MAS worked with the life insurance industry to implement needs-based sales analysis and enhanced disclosure standards to enable investors and customers to make better informed decisions.
- MAS
- Enforcement Actions
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- In light of the convictions, MAS served notices of its intention to impose Prohibition Orders (POs) on the three individuals from performing regulated activities under the SFA. MAS seeks to ban Mr Leong and Mr E for a period of 15 years, and Mr Toh for a period of 13 years.
- In the course of MAS’ investigations, we had also obtained the assistance of The Australian Securities and Investments Commission.
- These monies, suspected to be criminal proceeds, were seized from the individuals in the course of investigations conducted by the Monetary Authority of Singapore (MAS). 3 Mr Leong, Mr E and Mr Toh, were representatives of Capital Market Services Licence holders https://www.mas.gov.sg/regulation/capital-markets
- MAS
- Media Releases
Last revised date:
- Ms Teo said, "This MOU underscores the warm and very good working relations between MAS and CIRC.
- MAS and CIRC first signed a MOU in 1999 to facilitate cooperation in training and exchange programmes.
- 23 May 2005...The Monetary Authority of Singapore (MAS) today signed a regulatory Memorandum of Understanding (MOU) with the China Insurance Regulatory Commission (CIRC), the authority responsible for regulation of the insurance industry in China. 2 The MOU paves the way for greater cooperation between
- MAS
- Media Releases
Last revised date:
- MAS stands ready to intervene if necessary to keep it within the band. 4 MAS will review its policy stance in July, and will be making a statement on monetary policy then. ***
- MAS has not changed its policy of allowing a gradual, modest appreciation of the trade-weighted Singapore dollar within a policy band, as stated in the MAS Monetary Policy Statement of Feb 2001. Although the trade-weighted S$ has weakened since then, it has remained within the policy band.
- This is not so. 3 MAS manages the Singapore dollar exchange rate against a trade-weighted basket of currencies, and not against any single currency.
- MAS
- Enforcement Actions
Last revised date:
- by financial institutions is necessary for effective supervision by MAS.
- (MAMPL) paid a composition amount of S$10,000 for a series of late submissions of auditor’s reports and audited financial statements to the Monetary Authority of Singapore (MAS) between 2013 and 2015. 2 Between 2013 and 2015, MAMPL failed to put in place adequate financial controls and maintain proper
- This resulted in repeated late submissions of these documents to MAS. Consequently, MAMPL is in breach of paragraph 5(7J) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations.
- MAS
- Media Releases
Last revised date:
- Singapore, 3 February 2022…The Monetary Authority of Singapore (MAS) and the China Securities Regulatory Commission (CSRC) exchanged information to advance cooperation in capital markets supervision and connectivity at the 6th MAS-CSRC Supervisory Roundtable last week.
- MAS and CSRC also exchanged views to strengthen capital markets connectivity and support deeper collaboration between our exchanges. 3. Ms Ho said, “CSRC and MAS enjoy strong and warm relations, and benefit from a close supervisory partnership.
- Co-chaired by MAS’s Deputy Managing Director Ms Ho Hern Shin and CSRC’s Vice Chairman Mr Fang Xinghai, the Roundtable focussed on key supervisory issues, which included developments in sustainability reporting, OTC derivatives reporting requirements, as well as the supervisory and regulatory approaches