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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- MAS
- Media Releases
Last revised date:
- Singapore, 17 Nov 2004...The Monetary Authority of Singapore (MAS) issued an Information Paper on Good Practices for Licensed and Exempt Financial Advisers. The paper aims to assist financial advisers (FAs) enhance their advisory and sales process, complaints handling, compliance function and competency level of their representatives. 2 In the course of supervising FAs, MAS has observed some good practices among some FAs and has highlighted these in the paper. Some of the good practices highlighted
- MAS
- Media Releases
Last revised date:
- Singapore, 29 November 2005...The Monetary Authority of Singapore (MAS) issued Corporate Governance Regulations ("Regulations") for Approved Exchanges, Designated Clearing Houses And Approved Holding Companies. 2 Currently, only the SGX group of companies ("SGX") operate approved exchanges, designated clearing houses and approved holding companies in Singapore. 3 The Regulations are modeled on the Corporate Governance Regulations for banks, financial holding companies and direct insurers issued
- MAS
- Enforcement Actions
Last revised date:
- 1 MAS has issued prohibition orders against Mr Tay Meng Hui (“Mr Tay”), pursuant to: (a) section 35V(1)(a) of the Insurance Act (Cap. 142); and (b) section 59(1)(d) of the Financial Advisers Act (Cap. 110). 2 On 25 September 2013, Mr Tay was convicted in the Subordinate Courts of Singapore on one charge of accepting gratification as an inducement for forbearing to show disfavor to another person in relation to his principal’s affairs under section 6(a) of the Prevention
- MAS
- Media Releases
Last revised date:
- Singapore, 15 September 2017… The Monetary Authority of Singapore (MAS) and the Securities Commission Malaysia (SC) yesterday signed a Cooperation Agreement (CA) to foster closer cooperation on FinTech and innovation in financial services between Singapore and Malaysia. MAS and SC share similar objectives of developing robust FinTech ecosystems that support the needs of the financial industry and promote innovation in their respective markets. The CA was signed by Mr Sopnendu Mohanty, Chief FinTech
- MAS
- Letters to Editor
Last revised date:
- Dear Editor, We thank Mr Cheng Choon Fei for his suggestions in his letter of 6 September 2020 entitled "5-cent coins being rejected for payment”. 2 Mr Cheng is correct to point out that the Currency Act provides for a customer to make payment in all currency notes and coins, up to a limit of 20 coins per denomination for each transaction. 3 However, the Currency Act also allows vendors to set a lower limit, or choose not to accept any denomination of currency coins or notes, provided that
- MAS
- Speeches
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- The Financial Advisers (Amendment) Bill 2008 Mr Speaker Sir, on behalf of the Senior Minister, I beg to move, "That the Bill be now read a second time". 2 The House has just debated on the Securities and Futures (Amendment) Bill 2008. The amendments in the Financial Advisers (Amendment) Bill 2008 are similar in part to the Securities and Futures (Amendment) Bill 2008. It has the same objectives of enabling MAS to respond more quickly to new market developments, and enhancing the supervisory and
- MAS
- Letters to Editor
Last revised date:
- 24 November 2015 Dear Editor We refer to the article by Christopher Langner, David Yong and Pooja Thakur Mahrotri, “Singapore Landlords Discover Perpetual Debt Is the New Equity” (Bloomberg Business, 17 November 2015). The article mentioned that Singapore landlords are loading up on bonds masked as equity (i.e. perpetual debt) to get around the new requirements to cap borrowings of each REIT to 45 percent of the REIT’s total assets. We would like to clarify that MAS allows hybrid securities such
- MAS
- Media Releases
Last revised date:
- Singapore, 24 August 2016… The Monetary Authority of Singapore (MAS) today announced the opening of its FinTech Innovation Lab. The purpose-built facility, known as Looking Glass @ MAS 1 , is located within the MAS Building. 2 Looking Glass @ MAS will serve the following purposes: allow MAS to experiment FinTech solutions with financial institutions, start-ups, and technology vendors; facilitate consultations for start-ups by industry experts on areas of interest such as legal, regulation, and
- MAS
- Parliamentary Replies
Last revised date:
- Date: For Parliament Sitting on 9 May 2023 Name and Constituency of Member of Parliament Mr Saktiandi Supaat, Bishan-Toa Payoh GRC Question: To ask the Prime Minister (a) whether the Ministry is anticipating a further rise in bankruptcy applications in 2023; and (b) whether residential and commercial mortgagee listings are at risk of rising further amid higher interest rates and a tougher business climate. Answer by Mr Alvin Tan, Minister of State, Ministry of Trade and Industry and Ministry of
- MAS
- Parliamentary Replies
Last revised date:
- Issues Raised in Parliament ANSWER TO PARLIAMENTARY QUESTION ON: Policy Towards Domestic Banking Sector For Parliament Sitting on 19 Feb 98 Question To ask the Deputy Prime Minister what is his initial assessment on the recommendations made by the Sub-Committee on Banking and Finance and whether there are plans by the Government to open up the domestic banking sector to competition as part of the overall strategy to strengthen Singapore's financial sector. Answer: 1. The Government responded yesterday