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- MAS
- Media Releases
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- Singapore, 27 April 2022… In its latest Enforcement Report published today, the Monetary Authority of Singapore highlighted the strong enforcement actions taken against financial institutions (FIs) and individuals for breaches of laws and regulations administered by MAS.
- Through such updates, MAS aims to provide greater transparency regarding on-going efforts to pursue complex and high-profile cases. MAS has also elaborated on its considerations in disclosing information regarding ongoing investigations1.
- Enhancing the effectiveness of enforcement – MAS introduced enhanced prohibition order powers in the Financial Services and Markets Bill 2022 in Parliament and consulted on proposals to strengthen its investigative powers under MAS-administered Acts.
- MAS
- Consultations
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- The MAS would like to thank all respondents for their comments. 1.2 MAS has carefully considered the feedback received.
- MAS Response 4.2 MAS agrees with the comment that the disclosure should be standardised across the industry. In this regard, MAS will engage the Life Insurance Association of Singapore to work on the standardised disclosure.
- Authority of Singapore (MAS) issued a public consultation on settlement options in life policies.
- MAS
- Speeches
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- MAS' Relations with LIA I now would like to talk a bit more specifically about MAS' relations with LIA. I used the term "partner" a minute ago. MAS does see LIA as a partner in its efforts to strengthen the insurance industry in Singapore and improve service to consumers.
- The role includes: standard setting providing input to MAS on proposed regulatory and supervisory policies acting as communication channel for members in discussions with MAS supporting the future development of the industry in Singapore. So LIA is an increasingly important body in the eyes of MAS.
- As many as you know, MAS is moving away from its traditional approach to supervising financial industries.
- MAS
- Media Releases
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- About the Monetary Authority of Singapore The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator.
- The SFF is organised by the Monetary Authority of Singapore (MAS) in partnership with The Association of Banks in Singapore and in collaboration with SingEx. Find out more at www.fintechfestival.sg .
- Event to Return in 2021, 8-12 November Singapore, 17 December 2020… The 5-day round-the-clock Singapore FinTech Festival (SFF) and the Singapore Week of Innovation and TeCHnology (SWITCH) organised by the Monetary Authority of Singapore (MAS) and Enterprise Singapore (ESG) ended on 12 December 2020 The
- MAS
- Circulars
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- Report if the gating or suspension of a CIS has already been notified to MAS via an SR Report, in connection with a surge in redemptions. 8 Please contact your MAS officer-in-charge if you require any clarification.
- of significant daily redemptions, MAS noted instances of consecutive outflows for certain CIS.
- Exempt CIS). 2 -------- Monetary Authority of Singapore New Format for Reporting of Fund Gating and Suspension 6 Presently, FMCs report the suspension of fund dealings or the activation of gating measures5 to MAS verbally or via email.
- MAS
- Speeches
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- Under section 5(1) of the BWAA, MAS is allowed to “acquire, hold and deal with” Special Drawing Rights (SDRs) of the Government in accordance with the Articles of Agreement of the IMF, while section 5(2) allows MAS to “buy and sell” these SDRs.
- The funding of IMF offices hosted in Singapore has been subsumed under MAS’ overall annual budget and approved on a consolidated basis by the President as part of the budget approval process, in accordance with the Monetary Authority of Singapore Act. 7.
- Minister of State, Ministry of Culture, Community and Youth and Ministry of Trade and Industry, Mr Alvin Tan, on behalf of Senior Minister and Minister-in-charge of the Monetary Authority of Singapore (“MAS”), Mr Tharman Shanmugaratnam, today moved the Bretton Woods Agreements (Amendment) Bill (“Bill
- MAS
- Media Releases
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- Singapore, 8 February 2007...The Monetary Authority of Singapore (MAS) has released details of changes to the capital adequacy requirements for Singapore-incorporated banks. 2 Effective from 1 March 2007, MAS will lower the Tier 1 capital adequacy ratio (CAR) requirement from 7% to 6%.
- In November 1998, MAS allowed banks to meet up to 2% of the 12% requirement with Upper Tier 2 capital. Upper Tier 2 capital consisted of a portion of banks' unencumbered general provisions and subordinated debt instruments that met MAS' requirements.
- MAS also allowed banks to use funds raised from Innovative Tier 1 capital instruments to meet up to 15% of their Tier 1 CAR requirements. In September 2000, MAS increased the portion of the CAR requirement that can be met using Upper Tier 2 capital from 2% to 4%.
- MAS
- Consultations
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- reports to MAS.
- MAS will only publish non-anonymous submissions.
- MAS seeks comments on the revised IA Notice (Annex B). Question 3. MAS seeks comments on the revised SFA Notice (Annex C).
- MAS
- Parliamentary Replies
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- MAS will watch carefully how it works in practice, and will adjust the balance of responsibilities between MAS and SGX, should this prove necessary.
- MAS will assure itself that this is done effectively and responsibly.
- The Act also provides for MAS to directly regulate SGX's position as a company listed on its own exchange. 5 MAS recently (on 16 February 2001) issued a press statement, and the Deputy Managing Director, Mr Tharman Shanmugaratnam, made a speech which set out MAS' position in detail.
- MAS
- Media Releases
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- MAS has assessed that SGX did not have sufficient monitoring capabilities to meet contingencies. 4 MAS notes that remedial actions have since been taken to address the immediate root causes of the power outage.
- Singapore, 24 June 2015… The Monetary Authority of Singapore (MAS) has reprimanded the Singapore Exchange (SGX) for lapses related to the market outages on 5 November and 3 December 2014 and directed SGX to improve its recovery capabilities and processes.
- However, MAS is of the view that SGX’s service recovery requires improvements. First, SGX did not recover some of its critical systems within the four hour recovery time objective set out in the MAS Notice on Technology Risk Management.