singapore - Banking & Finance - Notices & Directives

Consultation Paper on Outsourcing by Banks and Merchant Banks

The Monetary Authority of Singapore (MAS) seeks comments from banks, merchant banks, and other interested parties on the proposed revisions to the regime governing banks' and merchant banks' outsourcing arrangements, including proposed amendments to the Banking Act. MAS proposes to issue an Outsourcing Notice for Banks and an Outsourcing Notic ...
Date: 07 February 2019; Type: Consultation Paper; Source: Monetary Authority of Singapore

Monograph MAS Approach to Macroprudential Policy

The Monetary Authority of Singapore (MAS) is an integrated financial supervisor responsible for "fostering a sound and reputable financial centre and promoting financial stability" in Singapore. MAS achieves these objectives through microprudential supervision of individual financial institutions and macroprudential oversight of ...
Date: 18 January 2019; Type: Guideline; Source: Monetary Authority of Singapore

MOF invites Feedback on Budget 2019

The Ministry of Finance is seeking views and suggestions from Singaporeans in preparation for Budget 2019 from 3 December 2018. The public can visit the REACH Budget 2019 microsite (www.reach.gov.sg/budget2019) to submit their views. The six-week feedback exercise will conclude on 11 January 2019.
Date: 02 December 2018; Type: Press Release; Source: Ministry of Finance

A Guide to Digital Token Offerings

The Monetary Authority of Singapore (MAS) has clarified that if a digital token constitutes a product regulated under the securities laws administered by MAS, the offer or issue of digital tokens must comply with the applicable securities laws. This paper provides general guidance on the application of the securities laws administered by MAS i ...
Date: 30 November 2018; Type: Guide; Source: Monetary Authority of Singapore

Consultation Paper on Proposed Revisions to the Exemption Framework for Cross-Border Business Arrangements of Capital Markets Intermediaries

This is to notify that the Monetary Authority of Singapore (MAS) had proposed changes to the exemption framework for business arrangements between financial institutions in Singapore and their foreign related corporations (the FRC Framework), which allows FRCs to provide cross-border financial services to customers in Singapore, without subjecting ...
Date: 04 December 2018; Type: Consultation Paper; Source: Monetary Authority of Singapore

Response to Feedback Received on the Proposed Payment Services Bill

The Monetary Authority of Singapore (MAS) had proposed to combine the current regulatory frameworks relating to the Payment Systems (Oversight) Act and the Money-changing and Remittance Businesses Act, into a single activity-based framework in the Payment Services Bill (PSB). The consultation period closed on 8 January 2018. MAS will incorporate th ...
Date: 19 November 2018; Type: Feedback; Source: Monetary Authority of Singapore

New Moneylending Regulations to Better Protect Borrowers to Come into Force on 30 Nov 2018

The Ministry of Law seeks to provide better protection for borrowers and strengthen the regulation of licensed moneylenders by implementing the first phase of the Moneylenders (Amendment) Act 2018 and Moneylenders (Amendment) Rules 2018 from 30 November 2018.
Date: 16 November 2018; Type: Press Release; Source: Ministry of Law

Consultation Paper on Sandbox Express

The Monetary Authority of Singapore (MAS) launched the FinTech Regulatory Sandbox (sandbox) in 2016 to facilitate live experiments of innovative financial services and business models within boundaries. MAS now proposes the creation of Sandbox Express, to complement the current sandbox approach in order to enable firms which intend to conduct certa ...
Date: 14 November 2018; Type: Consultation Paper; Source: Monetary Authority of Singapore

Response to Feedback Received on Proposed Amendments to Widen the Scope of Eligible Collateral in MAS Notice 637

The Monetary Authority of Singapore (MAS) issued a consultation paper on the proposed amendments to MAS Notice 637 on Risk-based Capital Adequacy Requirements for Banks Incorporated in Singapore to widen the scope of eligible collateral relating to commodities and equity securities that may be recognised for credit risk mitigation pu ...
Date: 13 November 2018; Type: Feedback; Source: Monetary Authority of Singapore

Principles to promote FEAT in the use of Artificial Intelligence and Data Analytics in Singapore’s Financial Sector

This document sets out generally accepted Principles for firms to consider when assessing existing or developing new internal frameworks to govern the use of Artificial Intelligence and Data Analytics (AIDA).
Date: 12 November 2018; Type: Guideline; Source: Monetary Authority of Singapore

Response to Feedback Received on Proposed Regulatory Capital Treatment of Banks’ Holdings of TLAC Liabilities in MAS Notice 637

The Monetary Authority of Singapore (MAS) issued a consultation paper on the proposed regulatory capital treatment of banks' holdings of Total Loss-Absorbing Capacity (TLAC) liabilities in MAS Notice 637 on Risk-based Capital Adequacy Requirements for Banks Incorporated in Singapore. The consultation closed on 9 May 2018. MAS will incorpo ...
Date: 13 November 2018; Type: Feedback; Source: Monetary Authority of Singapore

New Requirements for Registration as a Public Accountant from 1 Jan 2019

In April 2013, transitional arrangements were announced for stakeholders impacted by changes ensuing from the introduction of the Singapore Chartered Accountant Qualification and the Chartered Accountant of Singapore designation which included changes in the requirements for registration as a public accountant with ACRA. With effect from 1 January ...
Date: 08 November 2018; Type: Regulation; Source: Accounting and Corporate Regulatory Authority

Response to Feedback Received on Strengthening the Process for Determining SGS & MAS Bills Closing Prices

The Monetary Authority of Singapore (MAS) issued a consultation paper on strengthening the process for determining Singapore Government Securities ("SGS") and MAS bills closing prices. The consultation closed on 19 January 2018. MAS will incorporate the feedbacks on which they concur and responds to those comments that are of wider intere ...
Date: 07 November 2018; Type: Feedback; Source: Monetary Authority of Singapore

Response to Feedback Received on Proposed Regulations to Enhance the Resolution Regime for Financial Institutions in Singapore

As part of the Monetary Authority of Singapore's (MAS) review of the resolution regime for Financial Institutions (FIs) in Singapore, the MAS Act was amended by the Monetary Authority of Singapore (Amendment) Act 2017 (MAS (A) Act) to strengthen its powers to resolve distressed FIs while maintaining continuity of their critical economic functions. ...
Date: 26 October 2018; Type: Feedback; Source: Monetary Authority of Singapore

Response to Feedback Received on Draft Notice for Product Notification Regime

The Monetary Authority of Singapore (MAS) had issued a Consultation Paper on the Draft Notice for Product Notification Regime which sets out the criteria and process for the listing, de-listing or trading of derivatives products on approved exchanges and locally-incorporated recognised market operators. The consultation period closed on 22 June 201 ...
Date: 05 October 2018; Type: Feedback; Source: Monetary Authority of Singapore

Response to Feedback Received on Provision of Digital Advisory Services

The Monetary Authority of Singapore (MAS) had issued a consultation paper seeking comments on the proposals to facilitate the provision of digital advisory services in Singapore. The consultation ended on 7 July 2017. MAS considered the feedbacks and has refined the final proposals in areas they concur and responds to those comments that are of wid ...
Date: 08 October 2018; Type: Feedback; Source: Monetary Authority of Singapore

Response to Feedback Received on Draft Regulations Pursuant to Securities and Futures Act

The Monetary Authority of Singapore (MAS) had issued two consultation papers on draft regulations pursuant to the Securities and Futures Act (SFA). The draft regulations sought to operationalise the amendments to the SFA under the Securities and Futures (Amendment) Act 2017 (SF(A)A). The amendments give effect to policy proposals aimed at ensuring ...
Date: 28 September 2018; Type: Feedback; Source: Monetary Authority of Singapore

Response to Feedback Received on Draft Notices and Guidelines Pursuant to Securities and Futures Act

The Monetary Authority of Singapore (MAS) had issued a consultation paper on draft Notices and Guidelines pursuant to the Securities and Futures Act (SFA). The draft proposals sought to operationalise the amendments to the SFA under the Securities and Futures (Amendment) Act 2017 (SF(A)A). The amendments give effect to policy proposals aimed at ens ...
Date: 01 October 2018; Type: Feedback; Source: Monetary Authority of Singapore

Response to Feedback Received on the Proposed Framework for Singapore Variable Capital Companies

The Monetary Authority of Singapore (MAS) had proposed to set up a legislative framework for a new corporate structure that is tailored for Collective Investment Schemes (CIS). This new structure is the Singapore Variable Capital Companie (VCC). The legislative framework for VCCs seeks to provide an alternative for incorporating a company unde ...
Date: 10 September 2018; Type: Feedback; Source: Monetary Authority of Singapore

Consultation Paper on Notice on Cyber Hygiene

The Monetary Authority of Singapore (MAS) intends to issue a Notice on Cyber Hygiene, in order to strengthen the overall cyber resilience of Financial institutions (FIs). MAS through this Notice prescribes a set of essential cyber security practices that FIs must put in place to manage cyber threats. Views and comments on this draft Notice are soug ...
Date: 06 September 2018; Type: Consultation Paper; Source: Monetary Authority of Singapore

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Court adjourns Tony Pua's Appeal against Interim Injunction over RUU355 Video Clip

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DOJ urged to Act on Murder Raps vs PNP Men in Lawyer's Death

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Sarawak Lawyers wants Government to set up RCI over Judge Allegations

MIRI, Feb 19 (Bernama) - The Advocates Association of Sarawak (AAS) has proposed to the government to set up a Royal Commission of Inquiry (RCI) over the allegation of judicial interference in the affidavit made by a sitting Court of Appeal judge Datuk Dr Hamid Sultan Abu Backer recently.

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MACC meets Judge Hamid Sultan over 63-Page Affidavit

PUTRAJAYA, Feb 18 (Bernama) - The Malaysian Anti-Corruption Commission (MACC) today met with Court of Appeal judge Datuk Dr Hamid Sultan Abu Baker over his recent 63-page affidavit, filed last week, on allegations of judicial interference.

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CBM headed in Right Direction, Bank Development expected: Experts

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Retired SC Justice Azcuna 'Selfless Government Worker': Palace

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Rule of Law followed in Ressa Arrest

MANILA, Feb 15 (PNA) - Malacañang on Friday said the rule of law was followed in the arrest of Rappler chief executive officer Maria Ressa for cyberlibel amid criticisms of suppressing press freedom.

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Rebuilding ASEAN’s Financial Safety Net

Singapore and Indonesia signed a US$10 billion (K15.23 trillion) bilateral swap agreement last October, allowing the two countries to assist each other during times of financial stress through US dollar loans. The move signalled a willingness by ASEAN countries to play a bigger and more direct role in strengthening the region’s financial stability, but there is still much more to do.

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Judiciary lodges Police Report over Allegations in Affidavit

PUTRAJAYA, Feb 15 (Bernama) - The Judiciary has lodged a police report over allegations made against unnamed judges and the institution in the affidavit made by a sitting Court of Appeal judge Datuk Dr Hamid Sultan Abu Backer.

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Blind Woman's Persistence to become Lawyer bears Fruit

KUALA LUMPUR, Feb 15 (Bernama) - ‘Where there’s a will, there’s a way’, this proverb illustrates the determination and diligence of a visually impaired young woman who has achieved her dream of becoming a lawyer.

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Lawyer urges Government and CJ to address Justice Hamid's Revelations

KUALA LUMPUR, Feb 15 (Bernama) - Lawyer Sangeet Kaur Deo has called on the government and Chief Justice to immediately look into the claims by Court of Appeal judge Datuk Dr Hamid Sultan Abu Backer, contained in his affidavit which revealed misconduct of top judges and judicial interference.

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Decision on Minimum Wage Increases due in March

BANGKOK, Feb 13 (NNT) - The final decision on Minimum Wage increases will be made in March, with new rates to vary in accordance with economic conditions in each province.

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No Violation of Ressa's Civil Rights: DOJ

MANILA, Feb 14 (PNA) - Justice Secretary Menardo Guevarra on Thursday assured full protection of the civil rights of online news website Rappler's publisher Maria Ressa, who was arrested on Wednesday in connection with a cyber libel complaint filed against her and the media firm by a private individual.

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DOTr inks Deal on Common Station Construction

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Men too face Sexual Harassment at Workplace

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LHDN launches eProcurement System, Suppliers' Portal

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