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- MAS
- Enforcement Actions
Last revised date:
- Singapore, 19 December 2017…The Monetary Authority of Singapore (MAS) announced today that it has issued a lifetime Prohibition Order (PO) against Mr Yeo Jiawei and a 3-year PO against Mr Kevin Scully. Both POs take effect from 18 December 2017.
- MAS had earlier served notices of intention to issue POs against Mr Yeo and Mr Scully in October and May 2017 respectively. Including these latest actions, MAS has issued to-date POs against a total of eight persons involved in 1MDB-related breaches.
- MAS found that Mr Scully had failed to ensure that NRA’s valuation of PSOSL was carried out with sufficient care, judgement and objectivity.
- MAS
- Media Releases
Last revised date:
- Singapore, 13 February 2018… The Monetary Authority of Singapore (MAS) today launched a public consultation on proposed guidelines to protect users of electronic payments (“e-payments”).
- Copies of the public consultation paper and policy highlights document are available on the MAS website .
- MAS Deputy Managing Director, Ms Jacqueline Loh said, “MAS hopes that these guidelines will help to make e-payments simpler and more secure, and give individuals and micro-enterprises more confidence to adopt and integrate e-payments into their daily activities.” 4.
- MAS
- Media Releases
Last revised date:
- A copy of the public consultation paper is available on the MAS website . ***
- The Monetary Authority of Singapore (MAS) today released a consultation paper on the creation of pre-defined sandboxes, known as Sandbox Express, to complement the existing FinTech Regulatory Sandbox that was launched in 2016.
- An approved pre-defined sandbox entity will be required to submit periodic progress reports to MAS as well as ensure that the pre-defined sandbox expectations are adhered to. 5 Mr Sopnendu Mohanty, Chief FinTech Officer of MAS, said, “We are heartened that the FinTech Regulatory Sandbox has been well
- MAS
- Media Releases
Last revised date:
- Singapore, 19 December 2017…The Monetary Authority of Singapore (MAS) announced today that it has issued a lifetime Prohibition Order (PO) against Mr Yeo Jiawei and a 3-year PO against Mr Kevin Scully. Both POs take effect from 18 December 2017.
- MAS had earlier served notices of intention to issue POs against Mr Yeo and Mr Scully in October and May 2017 respectively. Including these latest actions, MAS has issued to-date POs against a total of eight persons involved in 1MDB-related breaches.
- MAS found that Mr Scully had failed to ensure that NRA’s valuation of PSOSL was carried out with sufficient care, judgement and objectivity.
- MAS
- Letters to Editor
Last revised date:
Response to “Clients risk losing out when agents are poached” – The Straits Times, 18 September 2017- Bey Mui Leng (Ms) Director (Corporate Communications) Monetary Authority of Singapore
- The Monetary Authority of Singapore (MAS) recognises that such mass movements of representatives could pose risks to consumers. There are regulations and guidelines requiring FIs to have robust controls to safeguard the interests of consumers in their provision of financial advisory services.
- MAS recognises that consumers may have concerns about the servicing of their insurance policies, when their representatives move to another FI. In this regard, MAS expects FIs to reach out to their affected customers and assign new representatives to service these customers promptly.
- MAS
- Parliamentary Replies
Last revised date:
- MAS is therefore reviewing the classification of these products and other hybrid securities . MAS expects to issue a public consultation paper by the end of the year .
- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1 In regulating the sale of investment products, MAS’ objective is to empower investors to make informed investment decisions which are compatible with their investment objectives, risk appetite, and financial situation
- QUESTION NO 3678 NOTICE PAPER 2144 OF 2020 FOR WRITTEN ANSWER Date: For Parliament Sitting on 5 June 2020 Name and Constituency of Member of Parliament Assoc Prof Walter Theseira , NMP Question: To ask the Prime Minister whether MAS will review if convertible bonds should be issued, marketed, sold or
- MAS
- Media Releases
Last revised date:
- The Monetary Authority of Singapore (MAS) will introduce regulations to require over-the-counter (OTC) derivatives to be cleared on central counterparties (CCPs) 1 , with effect from 1 October 2018.
- Banks whose gross notional outstanding OTC derivatives exceed $20 billion will be required to clear their trades through CCPs that are regulated by MAS.
- These banks account for over 90% of OTC derivatives contracts (in terms of outstanding notional amount) in Singapore. 3 Mr Lee Boon Ngiap, Assistant Managing Director, Capital Markets, MAS, said, “The central clearing requirements complements the existing margin requirements for non-centrally cleared
- MAS
- Media Releases
Last revised date:
- The Monetary Authority of Singapore (MAS) will require investors to report their short positions and short sell orders in securities listed on the Singapore Exchange (SGX), with effect from 1 October 2018.
- MAS will publish aggregated short positions of each security on Wednesday of each week. Identities of short sellers will not be disclosed.
- MAS previously consulted on the Regulations and the response to the consultation can be found here . *** Additional information: Short selling is the sale of securities that the seller does not own at the time of the sale.
- MAS
- Media Releases
Last revised date:
- Singapore, 22 June 2011… The Monetary Authority of Singapore (MAS) has proposed that financial institutions (FIs) provide a Fact Sheet, in a standardised format, when marketing residential property loans to consumers.
- The information provided in the Fact Sheet should be part of what consumers take into account. 6 The consultation paper (567.6 KB) can be accessed on the MAS website and the consultation will be open for 30 days. MAS will consider all feedback received in finalising the proposal. ***
- MAS invited feedback on its proposal, which was published in a consultation paper today. 2 A residential property loan is a long-term financial commitment. The current low global interest rate environment will not continue indefinitely.
- MAS
- Media Releases
Last revised date:
- Singapore, 8 September 2009...MAS has issued the first part of its response to feedback on the proposals in the Consultation Paper on the Review of the Regulatory Regime Governing the Sale and Marketing of Unlisted Investment Products, which was published on 12 March 2009. 2 MAS received supportive
- To view the consultation paper, please click on the following: http://www.mas.gov.sg/resource/publications/consult_papers/2009/MAS%20consult%20paper%20structured%20pdt%20review.pdf (217.8 KB)
- The proposals focused on promoting effective disclosure by improving the quality of information available to investors, strengthening fair dealing in the sale and advisory process and enhancing MAS' powers under the Financial Advisers Act (FAA).