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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- PDPC
Last revised date:
- Background The Personal Data Protection Commission (the “Commission”) was notified by Singhealth Polyclinics (“SHP”) on 31 May 2021 that its courier service provider had misplaced a package containing the GIRO applications forms submitted by its patients. Personal data of 87 individuals were affected, namely, names, telephone numbers, NRIC numbers, bank account numbers and transaction payment limits. It was established that, SHP did not have processes in place to confirm deliveries of packages
- MAS
- Consultations
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- Response VIEW DOCUMENT Response to Feedback Received Consult on Proposed Changes to NPA Test in the Unsecured Credit Rules (122.2 KB) Consultation Paper VIEW DOCUMENT Consultation Paper on Proposed Changes to Net Personal Asset Test in Unsecured Credit Rules (1.16 MB) 1 1.1 1.2 2 2.1 RESPONSE TO FEEDBACK RECEIVED PROPOSED CHANGES TO NET PERSONAL ASSET TEST IN UNSECURED CREDIT RULES Introduction On 12 August 2014, MAS issued a consultation paper on proposed
- MAS
- Directives
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- Sets out the indemnity given to any public officer, any person appointed under Directive 14(2) to advise a merchant bank in the proper conduct of business, or any person who has assumed control of the merchant bank’s business pursuant to Directive 14(2). 01 Jul 2021 MAS Directive 22 dated 1 November 1985 (last revised on 19 March 2007) is cancelled .
- MAS
- Speeches
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- Liberalising Commercial Banking and Upgrading Local Banks Date: 17 May 1999 1 The Government is introducing measures to liberalise the commercial banking sector and upgrade local banks. The aim is to move towards a more open and competitive environment, so as to spur the development and upgrading of local banks. This will strengthen our banking system, provide Singaporeans with quality banking services, and enhance our position as an international financial centre 2 Strong and well-managed local
- MAS
- Speeches
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- Distinguished Guests Ladies and Gentlemen INTRODUCTION 1 For two decades during the East Asian miracle, Southeast Asia grew rapidly. Large volumes of foreign investments helped to transform the economies, creating jobs and expanding exports. This ended abruptly in 1997, when the Asian Crisis swept through the region. The crisis has passed. But since then, Northeast Asia's economic performance has outshone Southeast Asia's. In Southeast Asia, growth has been weaker and more disparate, both direct
- MAS
- Speeches
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- Lord Meghnad Desai, Chairman of the OMFIF Advisory Board, Mr David Marsh, Managing Director, OMFIF, Ladies and gentlemen, good morning. I am grateful to OMFIF for organising this City Lecture and giving me the opportunity to share my thoughts with you. The world experienced nine years ago a most devastating financial crisis. In response, we saw the implementation of perhaps the most wide-ranging reforms in financial regulation ever in history. We are now at an inflection point. The phase of active
- MAS
- Speeches
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- Good morning. Welcome to MAS’ annual report press conference. 2 I will focus on five key areas today. First, what is happening on the growth and inflation front; second, what does it mean for MAS’ monetary policy; third, how is MAS managing risks to our economic and financial stability; fourth, what MAS is doing to make our financial sector stronger; and fifth, how we are positioning Singapore’s financial centre for growth. 3 Let me start with the economy. Growth and Inflation Singapore economy
- MAS
- Speeches
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- Good morning and thank you for joining us today at the launch of MAS’ sustainability report 2022. High quality sustainability disclosure is critical to managing environmental risks and allocating capital to climate risk mitigation. The Task Force on Climate-related Financial Disclosures (TCFD) has issued a set of recommendations for clear, comparable, and consistent disclosures on climate related risks and opportunities. More recently, the International Sustainability Standards Board (ISSB) has published
- PDPC
- Commission's Decisions
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- A financial penalty of $9,000 was imposed on AIG for failing to make reasonable security arrangements to prevent the unauthorised disclosure of personal data. This case involved an incorrect facsimile number used by AIG on its renewal notices. Click here to find out more. PERSONAL DATA PROTECTION COMMISSION [2018] SGPDPC 8 Case No DP-1707-B0901 In the matter of an investigation under section 50(1) of the Personal Data Protection Act 2012 And AIG Asia Pacific Insurance Pte. Ltd
- MAS
- Speeches
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- 1. Ladies and gentlemen, good morning. Welcome to the fourth edition of the Singapore FinTech Festival, and first edition of SFF x SWITCH. 2. We have come a long way since we began our FinTech journey in 2015. Singapore is widely recognised as one of the leading FinTech hubs in the world. 3. As shown by the opening video, we have remained true to our vision – to harness the power of technology and innovation to increase efficiency, manage risks better, create new opportunities, and improve