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:
- 1 The Minister for Education and Deputy Chairman of the Monetary Authority of Singapore (MAS) today moved the Money-Changing and Remittance Businesses (Amendment) Bill 2005 [MCRB(A)] for first reading in Parliament. 2 The Amendment Bill aims to fine-tune and better reflect MAS' supervisory approach of remittance houses. MAS does not supervise remittance houses for their safety and soundness. MAS' supervision of remittance houses and money-changers focuses on anti-money laundering (AML) and
- MAS
- Media Releases
Last revised date:
- Singapore, 22 November 2019… The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) jointly conducted a cyber-themed business continuity exercise to strengthen the financial sector’s resilience to cyber-attacks and operational disruptions. Codenamed Exercise Raffles, the sixth edition of the exercise was conducted over two days ending yesterday. 2 Exercise Raffles saw financial institutions respond to scenarios of cyber-attacks and operational disruptions by activating
- MAS
- Media Releases
Last revised date:
- Singapore, 7 August 2019... The Monetary Authority of Singapore (MAS) today launched Sandbox Express to provide firms with a faster option to test innovative financial products and services in the market. Eligible applicants can begin market testing in the pre-defined environment of Sandbox Express within 21 days of applying to MAS instead of taking a longer time to customise their sandboxes under the existing FinTech Regulatory Sandbox. 2 Sandbox Express shortens the approval process for entry
- MAS
- Speeches
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- Ladies and gentlemen, 1 Welcome to the world’s largest FinTech festival. a) Our Festival is getting bigger. This year, we have about 40,000 participants – one-third more than last year. b) This year, we also hope that we’ve made your experience better – richer in content, and even higher in quality. c) We have also put greater focus on issues that will interest you more – ASEAN, Financial Inclusion, AI in finance. Encouraging Signs in Our Young FinTech Journey 2 FinTech is relatively new
- MAS
- Speeches
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- Distinguished guests, ladies and gentlemen, a very good morning to all of you. 2 The global economic recovery remains uneven and fragile, five years after Lehman's collapse. While there have been some encouraging signs over the past year, with stronger jobs growth and the housing recovery in the US and the Euro area economies stepping out of the recession zone, there continues to be heavy reliance on extraordinarily loose monetary policy and low interest rates for life support. 3 Lean economic
- MAS
- Media Releases
Last revised date:
- Singapore, 13 October 2003...The International Advisory Panel (IAP) of the Monetary Authority of Singapore (MAS) met today to discuss the challenges and opportunities for Singapore against global trends in the financial industry and regional developments. The IAP, chaired by Mr Lim Hng Kiang, Minister, Prime Minister's Office, Second Minister for Finance, and Deputy Chairman of MAS, comprises business and finance leaders from the international community. 2 IAP members observed that the global
- MAS
- Enforcement Actions
Last revised date:
- 1 On 4 March 2014, Standard Chartered Bank [“SCB”] paid composition amounts of $10,000 and $30,000 in respect of contraventions of section 23B(3) of the FAA and section 99B(3) of the SFA respectively. 2 Section 23B(3)(a) of the FAA stipulates that a principal shall not permit any individual to provide any type of financial advisory service on its behalf unless the individual is an appointed or provisional representative in respect of that type of financial advisory service
- MAS
- Enforcement Actions
Last revised date:
- The Monetary Authority of Singapore (MAS) has revoked the Capital Markets Services (CMS) Licence of CT Bright Investment Pte. Ltd. (CTBI) with effect from 9 December 2019, due to numerous breaches of MAS’ rules, licence conditions, and failure to comply with MAS’ written direction. CTBI is no longer permitted to carry on business in fund management in Singapore following the revocation. 2 CTBI did not commence fund management activity within six months of licence issuance, and also did not seek an
- MAS
- Parliamentary Replies
Last revised date:
- Question No 468 Notice Paper No 202 OF 2012 For Written Answer Date: For Parliament Sitting on 9 July 2012 Name and Constituency of Member of Parliement Er Dr Lee Bee Wah, MP for Nee Soon GRC Question: To ask the Prime Minister (a) whether the Ministry will consider restricting car loans to cover only the cost of the vehicle and not the value of the Certificate of Entitlement (COE); and (b) what will be done to relieve the impact of high COE prices on SMEs which need vans and lorries for their businesses
- MAS
- Media Releases
Last revised date:
- Singapore, 09 February 2012...Professor Michael Brennan, Emeritus Professor of Finance from the Anderson Graduate School of Management, UCLA, has been appointed MAS Term Professor in Economics and Finance. 2 Professor Brennan was formerly president of the American Finance Association. He has served as editor of the Journal of Finance and was the founding editor of the Review of Financial Studies. His research interests include asset pricing, corporate finance, the pricing and role of derivative