Showing 5563 Documents for "MAS"
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- Earlier this year, MAS issued a set of e-payments user protection guidelines for public consultation. MAS has reviewed the feedback and will be issuing the final guidelines at the end of this month. The guidelines do three things: a.
- In the wake of the SingHealth breach two months ago, MAS has directed financial institutions to further tighten their customer identity verification measures. 33 Second, consumer protection when something goes wrong.
- New requirements under the upcoming Payment Services Bill will set minimum standards to address the range of potential risks. 29 Specifically, as we enable more non-bank players to connect to FAST, MAS expects them to adopt a mindset of open accessibility and good customer service.
- MAS
- Speeches
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- MAS encourages insurer’s use of technology to stay ahead of the game by providing better insurance coverage and solutions as well as service standards.
- MAS will continue working together with the industry to strengthen its foundations through two main areas; (i) enhancing risk management capabilities and (ii) developing talent.
- As part of MAS’ efforts to raise the standards of risk management practices for outsourced activities, we will be revising our guidelines on outsourcing to include additional best practices.
- MAS
- Media Releases
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- Singapore, 28 June 2004 - The Monetary Authority of Singapore (MAS) and the Economics Society of Singapore (ESS) today awarded prizes for the annual MAS-ESS Essay Competition 2003.
- This is the third year that MAS and ESS have jointly organized the Essay Competition. The following prizes were awarded to the top three essays in the two categories: Category Open category Students First prize $5,000 $2,000 Second prize $2,000 $1,000 Third prize $1,000 $500 ***
- MAS
- Parliamentary Replies
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- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1 MAS requires financial institutions (FIs) to have robust systems and processes to ensure reliable delivery of services to their customers.
- Depending on the circumstances, there may also be grounds for compensation for losses arising directly from the disruption. 4 With the delivery of financial services becoming increasingly digital, MAS has been reminding FIs to pay even more attention to ensuring their systems are resilient.
- In the event of a disruption, FIs are expected to restore the affected system as swiftly as possible and activate contingency measures to ensure continued delivery of financial services in the interim. 2 MAS also expects FIs to have a sound process to deal fairly with appeals from customers who may have
- MAS
- Enforcement Actions
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- Singapore, 14 August 2019… The Monetary Authority of Singapore (MAS) has issued Prohibition Orders (“POs”) against the following individuals, who were earlier convicted of insider trading: Name Duration of Prohibition Orders Mr E Seck Peng Simon former representative of UOB Kay Hian Pte Ltd 15 years
- POs against the three individuals were issued under Section 101A(1)(e) of the SFA. . 3 The three individuals had engaged in a front-running arrangement over a period of 7 years and colluded to misuse confidential information obtained in the course of their work for personal gain Please refer to MAS
- In July 2019, Mr Leong, Mr E and Mr Toh were convicted of insider trading offences and sentenced to 36 months, 30 months and 20 months imprisonment respectively. *** Additional information Section 101A (1)(e) of the Securities and Futures Act (Cap 289) Section 101A (1)(e) of the SFA allows MAS to make
- MAS
- Media Releases
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- In response to media queries about the implications of the COVID-19 (Temporary Measures) Bill on the financial sector, the Monetary Authority of Singapore (MAS) said that the proposed Bill will provide needed temporary protection for SMEs while being carefully scoped to avoid impairing the interests
- As part of the package of relief measures announced by MAS on 31 March 2020, banks have already undertaken to defer principal payments on secured loans to SMEs until the end of the year, subject to assessment of the quality of the security.
- SMEs who face cash flow difficulties should actively engage their banks to explore the options available under the package of relief measures announced by MAS, which include the deferment of principal repayment, with a corresponding waiver of late charges. 5 Apart from the secured SME loans specified
- MAS
- Media Releases
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- Singapore, 6 July 2007...MAS has launched a Doctorate Scholarship Programme (DSP).
- We expect to award up to 50 scholarships over the next five years. 4 The Programme is part of MAS’ ongoing efforts to partner the industry to raise the quality of the talent in the financial services sector.
- Singapore-based financial institutions and universities can send promising executives, fresh graduates and PhD candidates midway through their studies to top universities both abroad and locally to pursue specialised PhD programs. 3 MAS has set aside a budget of S$20 million from the Financial Sector
- MAS
- Media Releases
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- Singapore, 25 February 2010...The Monetary Authority of Singapore (MAS) is consulting the public on recommendations to amend and enhance various features of the Deposit Insurance (DI) Scheme in Singapore. 2 As part of our regular review, MAS and the Singapore Deposit Insurance Corporation (SDIC
- CPF monies placed with a Scheme member will be insured under a separate S$50,000 limit. 4 MAS invites interested parties to give their views and comments on the proposals contained in the Consultation Paper.
- MAS
- Media Releases
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- Singapore, 28 January 2010...The Monetary Authority of Singapore (MAS) said today that the temporary reciprocal currency arrangement (swap line) that was established with the US Federal Reserve on 30 October 2008 will expire on 1 February 2010, as previously announced. 2 MAS joined global central
- MAS did not have to draw on the facility. 3 Over the past year, wholesale funding market conditions improved globally and in Singapore. The swap lines, which were established to relieve pressures in global funding markets, are no longer needed.
- MAS
- Parliamentary Replies
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- MAS reminds retail investors to understand a product’s risks and returns before committing to a purchase. * * *
- Financial institutions and their representatives must adhere to MAS’ conduct requirements when selling investment products to retail clients.
- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: 1. Sophisticated investment products make up less than 5% of all investment products sold to retail clients. 2.