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- Singapore, 14 January 2021...The Monetary Authority of Singapore (MAS) announced today the appointment of Mr Leong Sing Chiong as Deputy Managing Director (Markets & Development). The appointment takes effect on 1 February 2021. 2.
- He held various appointments in MAS covering Markets and Investment, International, Financial Centre Development, and also served for two years as Chief Representative of MAS’ London Representative office from 2002 to 2004.
- Mr Leong will also continue in his current role as Assistant Managing Director (Markets & Investment) until a successor is appointed. ***** Additional information Mr Leong Sing Chiong (梁新松), 51, began his career with the Reserves Management Department of MAS in 1993.
- MAS
- Media Releases
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- Each of these notices will impose legally binding obligations on the respective financial sectors. 3 MAS invites comments on the draft notices which can be found on the MAS website [ Click here to view the consultation paper (9.96 KB) ].
- Singapore, 4 August 2006...The Monetary Authority of Singapore (MAS) today released draft notices on anti-money laundering and countering the financing of terrorism (AML/CFT) for banks, finance companies, merchant banks, money changers and remittance licence holders, life insurers, capital markets
- intermediaries, financial advisers, approved trustees, and trust companies. 2 The draft notices take into account the comments received for the consultation on the first draft of the revised MAS Notice to Banks No. 626 on AML/CFT released in January 2005 and developments in the implementation of the
- MAS
- Letters to Editor
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- Dear Editor, Mr Raymond Koh Bock Swi asks why MAS does not customize our minimum income requirements for retirees who want to have a credit card (“MAS rule unfair to seniors”, ST Forum, 24 September 2011). 2 In fact, MAS recognises that flexibility should be given to retirees who have the means to
- They may have higher internal standards than MAS’ minimum requirements. For example, a financial institution may consider some forms of income, such as investment income, more volatile than others.
- This income can come from non-salaried sources, including interest, rental, and investment income. 3 MAS’ minimum annual income requirement for credit cards is aimed at discouraging individuals from spending beyond their means.
- MAS
- Letters to Editor
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- MAS will also increase the frequency of its mystery shopping to monitor the acceptance of Brunei currency among retailers. Angelina Fernandez Director (Communications) Monetary Authority of Singapore (MAS)
- He can write to MAS to provide us with the names of the retailers. In the past, when we receive feedback from the public about businesses that have issues accepting Brunei currency, we contact these businesses. They have all agreed to accept Brunei currency.
- MAS will continue to work with the Singapore Retailers Association, the National Environment Agency and other relevant business associations to educate businesses such as retailers and hawkers, of the CIA, and to include educational programmes for their frontline staff.
- MAS
- Media Releases
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- All other FMCs will have to apply for a license. 4 To facilitate a smooth transition for EFMs and FMCs to apply for a license or to register with MAS, MAS has put in place the following measures: Current EFMs will have six months to apply for a licence or to register with MAS under the new RFMC regime
- Singapore, 6 August 2012…The Monetary Authority of Singapore (MAS) has announced that the implementation of an enhanced regulatory regime for fund management companies (FMCs) will take effect from tomorrow, 7 August 2012.
- MAS
- Media Releases
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- Singapore, 3 September 2015… The Monetary Authority of Singapore (MAS) announced today that an additional six million folders will be printed to meet the overwhelming demand from Singaporeans for both the SG50 commemorative notes and folders.
- MAS would like to reiterate its appeal to the public to refrain from queuing repeatedly to get more than the stipulated two folders, in fairness to others. 5 “MAS is heartened by the positive response of Singaporeans to the SG50 commemorative notes and folders and is working to ensure that all Singaporean
- MAS will announce further details at a later date. In addition, folders will continue to be available at the banks for those who exchange for the requisite number of notes.
- MAS
- Media Releases
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- Singapore, 21 January 2022…Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS) today signed a Memorandum of Understanding The MOU between BI and MAS signed on 20 November 2010 will be superseded by this new MOU.
- The MOU demonstrates our collaborative efforts in advancing digital economy and finance, as well as combating money laundering and terrorism financing.” 4 Mr Ravi Menon, Managing Director, MAS, said, “Bank Indonesia and the Monetary Authority of Singapore have a longstanding relationship and cooperate
- MAS
- Speeches
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- Dealers are currently required to inform MAS when the ratio exceeds 6 times , and their licences will lapse if the ratio exceeds 8 times for four consecutive weeks. 31 With effect from 1 Jan 2000, dealers need only inform MAS when the ratio exceeds 8 times , and the licence will lapse if the ratio
- MAS has agreed and this will take place in the 4th quarter of 2000. 48 SGX must adopt the most exacting international technology standards, protocols and business practices.
- Open Access Securities Market 12 MAS and the Exchange have finalised the timeframe for open access, in consultation with the Securities and Asset Management Sub-committee of the Financial Centre Advisory Group ("FCAG").
- MAS
- Speeches
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- Examples include Germany and the Netherlands. 5 WHAT IS THE MAS APPROACH TO CONVERGENCE? MAS' philosophy is to facilitate the changes that are driven by market realities, and not attempt to lead or hinder them.
- Finally, MAS will seek to facilitate convergence and other market driven changes while helping to preserve the safety and soundness of Singapore's financial sector.
- One of our key initiatives on which MAS has been consulting with the industry is the move towards risk-based capital frameworks for life insurers, and member firms of the Singapore Exchange.
- MAS
- Speeches
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- It will be administered by the Accounting and Corporate Regulatory Authority (ACRA), and managed by a fund manager regulated by the Monetary Authority of Singapore (MAS). A VCC will have a variable capital structure that provides flexibility in the issuance and redemption of its shares.
- MAS officers with the Singapore asset management who participated in engagement sessions from industry industry events and in New York, USA.
- MAS will be running a pilot programme for selected fund managers and service providers who are seeking to launch their new investment funds as VCCs on the day that the VCC framework is launched.