Showing 5563 Documents for "MAS"
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- MAS
- Enforcement Actions
Last revised date:
- The Monetary Authority of Singapore (MAS) has revoked the Capital Markets Services (CMS) Licence of CT Bright Investment Pte. Ltd. (CTBI) with effect from 9 December 2019, due to numerous breaches of MAS’ rules, licence conditions, and failure to comply with MAS’ written direction.
- CTBI and its CEO did not respond to or comply with the written direction. 6 MAS takes a serious view of CTBI’s and its CEO’s flagrant disregard of MAS’ rules, licence conditions and written direction.
- supervisory engagements on the aforementioned breaches, MAS further uncovered CTBI’s breach of its licence condition, by failing to inform MAS on the resignation of one of its two directors, who was also its relevant professional and appointed representative, in early 2018.
- MAS
- Enforcement Actions
Last revised date:
- MAS takes a serious view of financial institutions’ failure to comply with the conditions of their licence as well as written directions issued by MAS.
- Singapore, 21 June 2019… The Monetary Authority of Singapore (MAS) has revoked the financial adviser’s (FA) licence of International Financial Services (S) Pte. Ltd. (IFS) with effect from 21 June 2019.
- Accordingly, MAS has revoked IFS’ FA licence under section 19(2)(c)(ii) of the Financial Advisers Act (FAA) for its failure to comply with MAS’ written direction. 5 MAS issues written directions to financial institutions in the public interest or for the protection of investors.
- MAS
- Media Releases
Last revised date:
- Singapore, 24 May 2018… The Monetary Authority of Singapore (MAS) has warned eight digital token exchanges in Singapore not to facilitate trading in digital tokens that are securities or futures contracts without MAS’ authorisation.
- The issuer has ceased the offer and has taken remedial actions to comply with MAS’ regulations.
- MAS has assessed that the issuer had contravened the SFA as its tokens represented equity ownership in a company and therefore would be considered as securities under the SFA. The offer was made without a MAS-registered prospectus, which is a SFA requirement.
- MAS
- Media Releases
Last revised date:
- The members of the MAS Board are listed in the Annex. ***** Monetary Authority of Singapore 10 Shenton Way MAS Building Singapore 079117 Telephone: (65) 6225-5577 Annex Board of Directors of the Monetary Authority of Singapore (with effect from 1 June 2023) Mr Tharman Shanmugaratnam (
- The Monetary Authority of Singapore (MAS) today announced the re-appointment of three existing members to its Board of Directors and the re-appointment of its Managing Director. 2.
- Prior to this, he served as Chairman of the MAS Board from 20 August 2004. 5.
- MAS
- Monographs/Information Papers
Last revised date:
- As credit risk remains a key concern for the financial sector, MAS expects banks to be vigilant in adopting sound credit risk management standards and practices to guard against these external vulnerabilities. 2 Against this backdrop, MAS conducted a thematic review
- MAS looks to the banks Board and senior management to provide oversight and maintain high standards in this area.
- MAS will continue to engage banks on the effectiveness of their credit risk management as part of our on-going supervision. _______________________________________________________________________________________ 15 MONETARY AUTHORITY OF SINGAPORE -------- THEMATIC REVIEW - COLLATERAL
- MAS
- Media Releases
Last revised date:
- The Monetary Authority of Singapore (MAS) today announced four new senior management appointments as part of an ongoing process to renew MAS’ leadership bench. There will also be two changes in senior appointments. The new appointments and changes will take effect on 1 April 2021.
- She will take over from Mr Ong Chong Tee, Deputy Managing Director (Financial Supervision), who is leaving MAS.
- Boon Ngiap represented MAS at the board meetings of the International Organisation of Securities Commissions.” 8 “MAS is deeply grateful to Chong Tee and Boon Ngiap for their leadership and significant contributions over 35 years each of dedicated service.
- MAS
- Media Releases
Last revised date:
- The Monetary Authority of Singapore (MAS) today announced four new senior management appointments as part of an ongoing process to renew MAS’ leadership bench. There will also be two changes in senior appointments. The new appointments and changes will take effect on 1 April 2021.
- She will take over from Mr Ong Chong Tee, Deputy Managing Director (Financial Supervision), who is leaving MAS.
- Boon Ngiap represented MAS at the board meetings of the International Organisation of Securities Commissions.” 8 “MAS is deeply grateful to Chong Tee and Boon Ngiap for their leadership and significant contributions over 35 years each of dedicated service.
- MAS
- Enforcement Actions
Last revised date:
- These failures were identified by MAS in an inspection.
- Singapore, 22 July 2020 … The Monetary Authority of Singapore (MAS) has imposed a composition penalty of $1,100,000 on Asiaciti Trust Singapore Pte Ltd (ATSPL) for its failure to comply with MAS’ Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements.
- MAS will not hesitate to take action against FIs that fail to meet the standard required under our AML/CFT regulations.” *** Additional Information: Composition of AML/CFT offences MAS’ AML/CFT requirements for trust companies are set out in MAS Notice TCA-N03 on Prevention of Money Laundering and Countering
- MAS
- Media Releases
Last revised date:
- MAS has worked with FIDReC to put in place a fast-tracked process for affected investors. 3 Second, MAS will take firm and appropriate regulatory action where there are breaches of law or regulations by the FIs or their representatives.
- Singapore 2 October 2008...MAS today outlined our overall approach in dealing with recent developments concerning the sale of structured products to the public. 2 First, MAS assures investors who have purchased DBS High Notes 5, Lehman Minibonds and Merrill Lynch Jubilee Series 3 LinkEarner Notes
- MAS also recognises that the current concerns about the sale of structured products differ across FIs, relationship managers, products and types of investors.
- MAS
- Media Releases
Last revised date:
- Singapore, 20 March 2019… The Monetary Authority of Singapore (MAS) published its inaugural Enforcement Report (1.35 MB) today. The report outlines MAS’ enforcement priorities and provides greater accountability and transparency into the actions taken against breaches of MAS’ rules and regulations.
- In addition, the report outlines the types of misconduct MAS is currently investigating and the key initiatives MAS has undertaken to uphold Singapore’s reputation as a clean and trusted financial centre. 4 Ms Gillian Tan, Executive Director (Enforcement), MAS said “As Singapore’s financial industry
- This enables MAS to detect and investigate wrongdoings early, so that timely enforcement action can be taken against errant representatives.