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- What We Do at MAS Here at the Monetary Authority of Singapore, we have tried to embrace the above realities in our Internet Banking Technology Risk Management Guidelines. The Guidelines were issued in March 2001, following a period of industry consultation.
- What We Do at MAS The Monetary Authority of Singapore, while permitting outsourcing and offshoring activities to take place, expects the Board and Management of a financial institution to retain full responsibility and accountability for all significant functions and operations that have been outsourced
- This is what we are doing at MAS. We are strengthening our relationship with other supervisors and, where possible, co-ordinating our supervisory work with theirs.
- MAS
- Speeches
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- Just last month, the MAS issued a consultation paper proposing to extend this treatment to Singapore-constituted and managed funds.
- Currently, MAS allows offers of investments to be made to individuals without a prospectus, if the individual has sufficient assets.
- I note that MAS and the Singapore Exchange are taking steps to facilitate the listing of structured warrants on foreign exchange, interest rates and commodities.
- MAS
- Speeches
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- The MAS recently launched a programme to spur structured internship programmes for local fresh graduates in the finance sector over the next one year.
- The roles and effectiveness of independent directors are worth reiterating. 22 On our part, MAS too will be reviewing areas where there may be a need to enhance regulations. We take a long-term view to these actions.
- But this coordinated and precautionary measure has been helpful. 14 One area that MAS is focused on is in working closely with financial institutions and industry associations to build the pipeline of talent, to upgrade financial training and strengthen competencies.
- MAS
- Forms and Templates
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- Form) with the Monetary Authority of Singapore (the Authority).
- Form for registered insurance brokers to submit to MAS for the appointment of broking staff. This form should be lodged online via FormSG . After submission, FIs may view a record of their submission by logging into MAS-Tx .
- The password to the Form should be separately provided to the MAS officer-in-charge.
- MAS
- Economic Essays
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- Monetary Authority of Singapore Economic Policy Group
- He visited MAS from February to March 2013. The views in this Special Feature are solely those of the author and should not be attributed to MAS.
- Monetary Authority of Singapore Economic Policy Group -------- References Special Features 87 Du, Q and Wei, S J (2011), A Darwinian Perspective on Exchange Rate Undervaluation, NBER Working Paper No. 16788.
- MAS
- Media Releases
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- 1 The Minister, Prime Minister's Office and Second Minister for Finance, and Deputy Chairman of the Monetary Authority of Singapore ("MAS") today moved two Bills for first reading in Parliament, namely: The Business Trusts Bill ("BT Bill"); and The Securities and Futures (Amendment) Bill ("SF(A) Bill
- The BT Bill provides MAS with the power to prescribe requirements on the composition of the board of the TM. 14 The BT Bill requires the TM to establish an audit committee and provides MAS with the power to prescribe requirements relating to the composition, duties and functions of the audit committee
- MAS has considered the comments received and incorporated these into the Bills, where appropriate. (I) THE BUSINESS TRUSTS BILL OVERVIEW 4 The BT Bill is a new piece of legislation which regulates the governance of BTs.
- MAS
- Speeches
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- In the area of regulation and supervision, the Monetary Authority of Singapore (MAS) has shifted its approach to risk-focused supervision within a disclosure-based framework. 18 As part of its efforts to promote a sound and stable financial system, MAS plays a key role in fostering a safe, progressive
- To reduce settlement risk, MAS has actively encouraged the adoption of open settlement infrastructure and promoted shorter settlement turnarounds. In addition, MAS has engaged the industry and other government agencies to facilitate the development of e-financial services and e-commerce.
- products, some settlement members are offering banks, including central banks, the ability to leverage on the CLS infrastructure while addressing their specific needs and concerns such as straight-through-processing capabilities and confidentiality of transactions. 24 The second initiative is the MAS
- MAS
- Speeches
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- MAS has funded 23 AIDA projects and published 5 requests-for-proposals on topics such as Quantum Computing and Explainable AI. To promote the responsible use of AI and data analytics, MAS and the industry co-created the FEAT principles – for fairness, ethics, accountability, and transparency.
- I am pleased to announce that MAS will roll over the unutilised portion and augment it with additional funds to make a fresh commitment of $250 million for the next 3 years under FSTI 2.0.
- Together with the industry, MAS set about creating a FinTech ecosystem that embraced both incumbents and insurgents. We wanted to facilitate the digital transformation of established financial institutions so that they can innovate and compete with the best.
- MAS
- Speeches
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- Fair Dealing Outcomes 17 Next, I would like to touch on our follow-up work to the Fair Dealing Guidelines issued by MAS in April 2009.
- Enhancing Corporate Governance 6 You will all be aware that MAS issued a set of enhanced corporate governance regulations and guidelines in December last year.
- As such, only fit and proper individuals should be permitted to provide customers with financial advice. 14 To facilitate this, MAS launched the RNF in November 2010.
- MAS
- Speeches
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- MAS has a regulatory sandbox framework to make it easier for FinTech start-ups to test their business models. There are also various sources of government funding available for start-ups: MAS will provide strong support for ‘proof of concept’ trials.
- MAS Tech Talks, a series of talks by FinTech professionals to share about their experiences in the industry .
- This will give students to better understand job opportunities available in FinTech and define their career aspirations. 17 Second, as part of our broader SkillsFuture national initiative, MAS is partnering various other players to enhance continuous learning.