Showing 5563 Documents for "MAS"
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- MAS
- Media Releases
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- Singapore, 8 July 2022… The Monetary Authority of Singapore (MAS) has imposed a composition penalty of $70,000 on Mr Go Choo Huat, for carrying on a money-changing and remittance business in November 2015, without the requisite licences. 2 Mr Go was the director of Top Excel Distribution Network Limited
- He has paid the penalty of $70,000. 4 The case was referred to MAS by the Attorney-General’s Chambers in February 2022, in the course of criminal court proceedings brought against Mr Go for the offences under sections 5(1) and 6(1) of the MCRBA. ***** Additional information (A) Composition of Money-changing
- and Remittance Businesses Act (Cap. 187, Rev Ed 2008) (MCRBA) Offences Section 96(3) of the Payment Services Act 2019 allows MAS to compound an offence under the MCRBA , which was compoundable under section 29 of the MCRBA when the offence was committed, even though the MCRBA has been repealed, by collecting
- MAS
- Enforcement Actions Media Releases
Last revised date:
- Singapore, 8 July 2022… The Monetary Authority of Singapore (MAS) has imposed a composition penalty of $70,000 on Mr Go Choo Huat, for carrying on a money-changing and remittance business in November 2015, without the requisite licences. 2.
- The case was referred to MAS by the Attorney-General’s Chambers in February 2022, in the course of criminal court proceedings brought against Mr Go for the offences under sections 5(1) and 6(1) of the MCRBA. ***** Additional information (A) Composition of Money-changing and Remittance Businesses Act
- (Cap. 187, Rev Ed 2008) (MCRBA) Offences Section 96(3) of the Payment Services Act 2019 allows MAS to compound an offence under the MCRBA , which was compoundable under section 29 of the MCRBA when the offence was committed, even though the MCRBA has been repealed, by collecting from a person reasonably
- MAS
- Circulars
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- .: ID 08/17 18 July 2017 To Chief Executives All Direct Life and Composite Insurers Dear Sir/Madam ADVANCE PREMIUM FACILITY MAS notes that some insurers have been soliciting for advance premiums (AP) from policy owners by offering attractive interest rates during
- MAS is concerned that such solicitation of AP may give policy owners the false impression that insurers are engaging in deposit-taking business. 2 Insurers should accept AP only where it is solely incidental to the carrying on of their insurance business as permitted in the Banking
- In this regard, any AP facility offered by insurers should only serve to facilitate insurance transactions, for example, where policy owners are unable to pay premiums for a certain period of time due to travel and/or other personal reasons. 3 to their policy owners: MAS expects insurers to
- MAS
- Notices
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- Insurers shall comply with the requirements set out in MAS Notice 109 5. when engaging in securities lending activities. -------- MAS 113: Notice on Securities Lending Activities 6.
- .: MAS 113 Issue Date: 1 August 2005 This Notice replaces MAS 113 dated 1 January 2001. NOTICE ON SECURITIES LENDING ACTIVITIES This Notice is issued pursuant to section 64(2) of the Insurance Act (Cap. 1. 142). 2.
- MAS
- Speeches
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- In recent years, MAS has tightened loan-to-value ratios for housing loans, and introduced the Total Debt Servicing Ratio (TDSR) framework to prevent households from over-stretching themselves.
- Every month, MAS receives, on average, about 10 complaints from the public involving the sale of investment products. To be sure, some of them involve mis-selling or poor disclosure, for which the financial adviser or institution is responsible.
- MoneySENSE – spearheaded by MAS and involving a number of government agencies - has been working in partnership with the financial industry, education institutes, and professional and consumer associations to help empower Singaporeans to manage their finances well.
- MAS
- Speeches
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- To enhance investor confidence in our financial system, among various initiatives, MAS issued the Guidelines on Fair Dealing in April this year.
- To encourage training, MAS recently increased the co-funding support for FICS accredited programmes to 90%, and extended support to financial institutions that adopt FICS framework for their in-house training.
- As an added impetus, MAS is also consulting closely with the industry to see how we could collectively drive the effort to strengthen competency in a coordinated manner. 16 Competence and right behaviour go hand-in-hand.
- MAS
- Economic Essays
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- Monetary Authority of Singapore Economic Policy Department
- He visited EPD in November 2008 under MAS Eminent Visitor Programme. 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 Department -------- 84 Macroeconomic Review, April 2009 in the world is only room for one there international currency.
- MAS
- Speeches
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- MAS will announce the implementation details shortly. Ethics-related Content 7. So why is MAS introducing ethics-related content to the entrance examinations for FA representatives? It is not sufficient for industry practitioners just to be aware of their regulatory obligations.
- In this regard, MAS and the industry have made concerted efforts over the past few years to equip industry professionals with relevant competencies.
- MAS has consulted on the proposed inclusion of ethics and skills contents to the current CMFAS modules on rules and regulations, with a view to further raising the technical competency of advisers and building a culture of high ethical standards.
- MAS
- Speeches
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- Over the years, MAS has also worked closely with REITAS and the industry to overcome challenges.
- It took many years of close collaboration between the industry and MAS, which allowed Singapore’s REIT market to become a key segment of our capital markets today. 4.
- MAS also undertook a series of measures to provide S-REITs with greater flexibility to manage their capital structures, and seize investment opportunities amid the correction.
- MAS
- Media Releases
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- MAS is adapting the prototype for our own supervisory needs.
- Singapore, 31 March 2022…The BIS Innovation Hub Singapore Centre and the Monetary Authority of Singapore (MAS) have developed a new prototype platform that integrates regulatory data and analytics.
- I hope other supervisors will similarly find it useful and look forward to further joint initiatives to develop common SupTech solutions for supervisors”, said Hern Shin Ho, Deputy Managing Director (Financial Supervision), MAS. 5 With the support of the Bank of England, the International Swaps and