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
- Circulars
Last revised date:
- To encourage insurers with exposures to LIBOR or SOR derivatives transactions to adhere to the International Swaps and Derivatives Association’s (“ISDA”) inter-bank offered rates (“IBOR”) Fallback Protocol. Circular Reference: ID 32/20 1 September 2020 To Chief Executives All Licensed Insurers Dear Sir/Madam PREPARATION FOR LIBOR DISCONTINUATION: ENHANCING CONTRACTUAL ROBUSTNESS The Monetary Authority of Singapore (MAS) expects financial institutions (FIs) in Singapore to be
- MAS
- Speeches
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- 1 Minister for National Development and Second Minister for Finance, Mr Lawrence Wong, on behalf of Mr Tharman Shanmugaratnam, Senior Minister and Minister-in-charge of the Monetary Authority of Singapore (MAS), today moved the Banking (Amendment) Bill 2019 (the Bill) for First Reading in Parliament. 2 MAS reviews and amends the Banking Act (BA) periodically to update and strengthen the regulatory framework for banks, merchant banks (MBs) and non-bank credit card or charge card issuers, in light
- MAS
- Practice Notes
Last revised date:
- Information for issuers and their professional advisers relating to the preparation of a Product Highlights Sheet for an offer of securities, securities-based derivatives contracts, and units in a collective investment scheme. Monetary Authority of Singapore SECURITIES AND FUTURES ACT (CAP. 289) PRACTICE NOTE ON THE PRODUCT HIGHLIGHTS SHEET -------- Practice Note on the Product Highlights Sheet Practice Note No.: SFA PN-02 Issue Date : 8 June 2018 (last revised on 8 October 2018) PRACTICE
- MAS
- Notices
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- Requirements for banks incorporated outside Singapore on the appointment of chief executive and deputy chief executive. This notice was cancelled with effect from 03 June 2019. Please refer to section 53A(2)(a) of the Banking Act (Cap. 19) for the appointment of chief executive officers and deputy chief executive officers of banks incorporated outside Singapore. Amendment Notes 03 Jun 2019 MAS Notice 622A dated 06 Jun 2007 (56.3 KB) is cancelled. 11 Jun 2007 MAS Notice 622A dated 06 Jun 2007 takes
- MAS
- Enforcement Actions Media Releases
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- Joint News Release by Monetary Authority of Singapore and Singapore Police Force Singapore, 18 April 2023... On 18 April 2023, Mr Tang Boon Hai was sentenced to 30 months’ imprisonment for conspiring to conduct false trading in the shares of KTL Global Limited (“KTL”), trading using the accounts of other persons without the authorisation of the brokerage firm, and dishonestly receiving stolen property. These are offences under the Securities and Futures Act (“SFA”) and Penal Code (“PC”). 2. On 1
- MAS
- Media Releases
Last revised date:
- Singapore, 15 May 2023… The Monetary Authority of Singapore (MAS) today launched the issuance of a $10 coin to commemorate the 100 th birth anniversary of Singapore’s founding Prime Minister, Mr Lee Kuan Yew (LKY100). The coin pays tribute to his strategic vision, boldness and indomitable spirit that transformed Singapore from a regional trading port to a global manufacturing, business and financial hub, creating opportunities for all Singaporeans. Coin Design 2. The LKY100 coin is gold in colour
- MAS
- Speeches
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- 1 Mr Speaker, on behalf of the Minister-In-Charge of MAS, I beg to move, “That the Bill be now read a second time”. 2 The Bill makes amendments to the Currency Act in two areas. First, the legal tender limits for coins. Second, the offence of mutilation of currency notes, to enable the Ministry of Home Affairs (MHA) to license companies that sell Intelligent Banknote Neutralisation Systems (IBNS) or offer cash transportation services using IBNS. Legal Tender Limits for Coins 3 First, the legal
- MAS
- Media Releases
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- Singapore, 24 April 2023… The Monetary Authority of Singapore (MAS) today announced the launch of the Polytechnic Talent for Finance Scheme to encourage financial institutions to hire and train polytechnic students and graduates. 2 Speaking at a Growing Timber event today, Mr Alvin Tan, Minister of State, Ministry of Culture, Community and Youth, and Ministry of Trade and Industry, and Board Member of MAS, shared that the financial sector offers good jobs and rewarding careers for polytechnic graduates
- MAS
- Speeches
Last revised date:
- Lord Mayor William Russell Dr Rhian-Mari Thomas Ladies and gentlemen, Good afternoon from Singapore. Asia is key to the world’s transition to net zero. The region accounts for about half of global carbon emissions, and more than half of global energy consumption. The battle against climate change will be won or lost in Asia. Asia’s transition to a lower carbon future will not be easy. About 85% of the energy produced comes from fossil fuels, and demand is likely to rise on the back of continued
- MAS
- Media Releases
Last revised date:
- Singapore, 4 October 2022… The Monetary Authority of Singapore (MAS), together with knowledge partners McKinsey & Company and Convergence Blended Finance, and supported by the Glasgow Financial Alliance for Net Zero (GFANZ), today hosted the inaugural Transition Finance Towards Net Zero (TFNZ) Conference. The conference provides a platform to galvanise key public and private sector stakeholders to mobilise capital at scale to help economies and corporates decarbonise. 2 The conference focused on