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- Based on trading desk reporting, the Monetary Authority of Singapore (MAS) estimates that the average daily forex turnover in Singapore reached US$153 billion in April 2004, a 51% increase over 2001. 3 Activity rose as a number of global players centred their Asian time zone business in Singapore in
- Singapore has participated in the triennial survey since 1992. 6 MAS also conducts a comprehensive survey to monitor the development of treasury activities in Singapore including trends in forex, interest rate and fixed income activities.
- The MAS survey will be released at 1000 hrs on 29 Sep 2004. *** Click on the hyperlink below for the BIS survey: www.bis.org/publ/rpfx04.htm For queries on the BIS Survey, please contact: Rainer Widera Head of International Financial Statistics Monetary and Economic Department Bank for International
- MAS
- Media Releases
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- The Monetary Authority of Singapore (MAS) today announced that it will be issuing new guidelines for retail hedge funds shortly, by the end of this year.
- Note to Editors: MAS issued a public consultation paper on the proposed revised guidelines for retail hedge funds on 13 August 2002. ***
- The revised guidelines will enhance disclosure in hedge fund prospectuses and marketing materials and foster the development of the hedge fund industry in Singapore. 2 Speaking at the inaugural Hedge Funds World Singapore conference, Ms Yeo Lian Sim, the Deputy Managing Director (Market Conduct) of MAS
- MAS
- Parliamentary Replies
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- About 95% of credit granted to Singapore households by commercial entities is by financial institutions (FIs) regulated by MAS.
- FIs regulated by MAS are not subject to these caps but may only provide unsecured credit to individuals with a minimum annual income of $20,000. 4.
- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1. Our government agencies work together to oversee the provision of consumer credit in Singapore.
- MAS
- Parliamentary Replies
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- In March 2017, the Monetary Authority of Singapore (MAS) announced that mortgage equity withdrawal loans need not be subject to the total debt servicing ratio framework if the loan amount is less than 50% of the market value of the property.
- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1. The Government has introduced several measures over the years to help Singaporeans monetise their housing assets so as to meet their financial needs. 2.
- MAS has also not set any age limit on borrowers who can apply for mortgage equity withdrawal loans. However, like all loans, financial institutions will conduct credit assessments and, in some cases, they may request for a joint borrower or guarantor to be named.
- MAS
- Media Releases
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- Singapore, 13 September 2006...The Monetary Authority of Singapore's (MAS) International Advisory Panel (IAP) will be holding its sixth meeting in Singapore on 17 September 2006.
- They will also be hosted to lunch by Senior Minister and Chairman, MAS Goh Chok Tong. ***
- The IAP members who will attend this year's meeting are: Mr Lim Hng Kiang, Chairman of the IAP, Minister for Trade and Industry and Deputy Chairman of MAS; Mr Jacques Aigrain, Chief Executive Officer, Swiss Re; Mr Claude Bébéar, Chairman of the Supervisory Board, The AXA Group; Mr Lloyd C.
- MAS
- Media Releases
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- Singapore, 4 December 2006...The Monetary Authority of Singapore (MAS) today released the key findings from its review of financial institutions' controls on improper switching Improper switching occurs when financial advisory representatives advise their clients to switch products solely to generate
- The key findings and recommendations from the review are contained in the Annex (159.3 KB) . 4 Mr Shane Tregillis, Deputy Managing Director (Market Conduct), MAS, said, "We encourage FIs to continue to enhance controls to monitor and deter improper switching by their representatives.
- It assessed the extent to which FIs had put in place controls in accordance with the Guidelines on Switching of Designated Investment Products (22.4 KB) issued by MAS in October 2004. 2 Overall, the review found that most FIs have implemented some controls to monitor improper switching within their
- MAS
- Media Releases
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- Singapore, 18 April 2013…The Monetary Authority of Singapore (MAS) has taken civil penalty enforcement action against Mr Ang Kok Min for insider trading under Section 219(2)(a) of the Securities and Futures Act (SFA). 2 On 13 August 2010, Wilmar International Limited (Wilmar) announced its intention
- As a result of his purchases, Mr Ang made a profit of approximately $6,200. 4 Mr Ang has admitted to contravening Section 219(2)(a) of the SFA and has paid MAS a civil penalty of $50,000, without any court action. 5 The matter was referred to MAS by SGX-ST. *** Notes to Editor: (A) The civil penalty
- (ii) Under section 232 of the SFA, MAS may enter into an agreement with any person for that person to pay, with or without admission of liability, a civil penalty for contravening any provision of Part XII of the SFA.
- MAS
- Media Releases
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- The Monetary Authority of Singapore (MAS) and the China Securities Regulatory Commission (CSRC) will study measures to enhance collaboration between the derivatives markets of Singapore and China.
- MAS and the China Insurance Regulatory Commission will explore collaborative initiatives in the area of catastrophe risk insurance.
- The successful implementation of the financial cooperation initiatives and the new areas of cooperation agreed at the 11th JCBC meeting bear testament to the excellent relations between MAS and its counterparts in China.
- MAS
- Media Releases
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- Singapore, 11 July 2008...The Monetary Authority of Singapore (MAS) and the Economics Society of Singapore (ESS) today awarded prizes for the annual MAS-ESS Essay Competition 2007. 2 The seventh MAS-ESS essay competition was open to tertiary and pre-university students who submitted entries on the
- Prize: $2,000 Third Prize Mr Au Yong Kok Kong Jonathan / Mr Alexander Woon Wei-Ming (Joint Entry) Raffles Junior College Cash Prize: $500 Mr Yeoh Keat Loon Singapore Management University Cash Prize: $1,000 5 Commenting on the competition, Dr Khor Hoe Ee, Assistant Managing Director of Economics at MAS
- MAS
- Parliamentary Replies
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- MAS is not in a position to assess exactly which courses are credible and will make money for consumers. It is also not meaningful to assess the trainers without considering the content of the courses conducted.
- For courses on financial products in particular, MAS will review its regulatory framework to see how it can be tightened to enhance protection for consumers. 4 Second, educating consumers so they can ask the right questions.
- MAS has published, through its national financial education programme, MoneySENSE, a consumer alert on “Get-rich Quick Seminars” to highlight the key things that consumers should consider before parting with their monies to attend such training seminars.