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- Speeches
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- We have also introduced an Enhanced Tier to the existing fund management incentives for funds with a minimum size of S$50 million. 26 Thirdly, talent development for the industry remains a key focus for the MAS.
- I am pleased to announce that MAS will be setting aside S$15 million funding support to provide fresh local university graduates with meaningful industry internships and attachment opportunities over the next 1-2 years. 29 More details on this new scheme will be released shortly.
- A more dynamic process of reviewing investment benchmarks depending on material shifts in market conditions may be warranted. 20 As the industry strives to regain its footing, MAS remains committed to supporting its development here in Singapore. We will continue to be an important hub.
- MAS
- Economic Essays
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- By the Economic Policy Group, Monetary Authority of Singapore This study was published as Special Feature A in the April 2020 Macroeconomic Review.
- estimates Source: ITC Trade Map, US Census Bureau and EPG, MAS estimates Next, the indirect impact of higher tariffs on the intermediate input suppliers of final goods producers is examined.
- 0.1 7.0 2.8 1.6 8.1 0.9 6.2 1.0 1.4 1.5 2.3 0.0 2.3 3.1 3.3 3.3 0.9 1.7 0.6 0.6 0.2 1.8 0.0 3.0 3.3 0.9 3.3 0.1 1.0 1.9 1.2 0.2 2.8 0.2 12.3 3.1 17.0 3.8 0.4 0.6 0.6 0.4 0.8 Source: UN Comtrade and EPG, MAS
- MAS
- Media Releases
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- Singapore, 2 June 2003...The Monetary Authority of Singapore (MAS) welcomes today's launch of the Asian Bond Fund (ABF) by the EMEAP group of central banks. As a member of the EMEAP grouping, Singapore will be investing US$100 million in the ABF.
- Tetangco, Jr. (63 2) 524 8722 Monetary Authority of Singapore Diana Koh (65) 6229 9104 Bank of Thailand Thirachai Phuvanat Naranubala (66 2) 283 5030
- MAS
- Enforcement Actions
Last revised date:
- Singapore, 5 May 2021… The Monetary Authority of Singapore (MAS) has issued a 2-year prohibition order (PO) against Mr Lim Chew Keat, a former insurance agent of Synergy Financial Advisers Pte Ltd (Synergy FA) for making false and misleading statements to his client. 2 Mr Lim is prohibited
- The order took effect from 4 May 2021. 3 The PO was issued against Mr Lim following MAS’ investigations into allegations that Mr Lim had made various false and misleading statements about the features of a regular premium investment-linked policy (ILP) to his client.
- MAS
- Enforcement Actions Media Releases
Last revised date:
- Singapore, 18 March 2022 … The Monetary Authority of Singapore (MAS) has issued ten-year prohibition orders (POs) against Mr Loh Thim Mun Marcus, a former wealth planning manager with DBS Bank Pte Ltd (DBS).
- He was sentenced to 33 months imprisonment. 5 Mr Loh’s actions have given MAS reason to believe that he will not perform financial advisory and capital markets services honestly.
- MAS
- Parliamentary Replies
Last revised date:
- The Monetary Authority of Singapore (MAS) has been closely monitoring developments in the global financial markets and their impact on Singapore. As far as the inter-bank market is concerned, there has been sufficient liquidity in the system.
- MAS' assessment is that while there is no large scale credit crisis in Singapore, some segments of borrowers may face higher borrowing costs. It will be inappropriate for the Government to direct banks to lend, or to get involved in who they should lend to.
- MAS
- Parliamentary Replies
Last revised date:
- Answer by Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister in charge of MAS: 1 MAS shares Mr Sapari’s concern about the need for proper selling procedures when financial advisers (“FAs”) deal with the elderly or vulnerable in our population.
- MAS will continue to work with the industry to improve the quality of advice and competencies of FA representatives. We will also share common observations and weaknesses from our supervisory reviews, and spread best practices that go beyond strict regulatory requirements. ***
- MAS
- Media Releases
Last revised date:
- The Monetary Authority of Singapore (MAS) has imposed civil penalties on Mr Lim Oon Cheng and his niece, Ms Lim Huey Yih, for contraventions under the Securities and Futures Act (SFA). Both Mr Lim and Ms Lim have admitted to committing insider trading.
- (ii) Under section 232 of the SFA, MAS may enter into an agreement with any person for that person to pay, with or without admission of liability, a civil penalty for contravening any provision of Part XII of the SFA.
- MAS
- Parliamentary Replies
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- MAS has received feedback from the industry indicating that customers had a generally tepid reception to previous launches of longer-term fixed rate mortgages. Government-backed home mortgage companies 5.
- According to the banks MAS has engaged, these offerings reflect customer preferences. Borrowers generally prefer near-term certainty in their monthly repayments while still having an avenue to refinance their loans later.
- Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS: Longer fixed rate mortgage loans 1. The benefits of longer-term fixed rate mortgage loans do not necessarily outweigh their costs and risks to borrowers. 2. There are two pertinent considerations.
- MAS
- Forms and Templates
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- After submission, FIs may view a record of their submission by logging into MAS-Tx .
- THE MONETARY AUTHORITY OF SINGAPORE APPLICATION FOR PERMISSION UNDER SECTION 35ZF OF THE INSURANCE ACT (CAP 142) TO NEGOTIATE AND PLACE INSURANCE RISK WITH UNREGISTERED INSURERS Name(s) and Country(s) of Operation of the Unregistered Insurer(s) to be Approached for Negotiation and Placement
- collectively referred to as insurance brokers] from negotiating any contract of insurance with an insurer (directly or indirectly) except with a registered insurer acting in the course of its business as such except where: a) prior approval has been obtained from the Monetary