All Entries in the "Monetary Authority of Singapore" Category
MAS Seeking Public Consultation on OTC
The Monetary Authority of Singapore (MAS) is conducting a review on the regulatory oversight of the over-the-counter (OTC) derivatives(1) market in Singapore and is seeking public comments on its proposals: http://www.mas.gov.sg/resource/publications/consult_papers/2012/OTCDerivativesConsult.pdf. In developing these proposals, MAS has taken into consideration international developments such as the commitment pledged by the Group of Twenty Finance Ministers and [...]
MAS Introduces Regulatory Framework for Credit Rating Agencies
The Monetary Authority of Singapore (MAS) will implement the regulatory framework for Credit Rating Agencies (CRA) with effect from January 17. MAS had issued a consultation paper on the proposed CRA regulatory framework in March 2011, as well as conducted discussions with the industry and market practitioners. MAS has carefully considered the responses received and [...]
MAS Safeguarding the Interests of MF Global Clients
The Monetary Authority of Singapore (MAS) has been informed that there are about 1,000 contracts for differences (CFDs) accounts with MF Global Singapore (MFGS) which are active. MAS is working closely with the MFGS-appointed provisional liquidators from KPMG to safeguard investors’ interest. Given that US-based MF Global Holdings Ltd had filed for Chapter 11 bankruptcy [...]
MAS MD Speech: Singapore’s Approach to the Regulation of Capital Markets
What do capital markets do? Distinguished guests, ladies and gentlemen, good morning. And to all our guests from abroad, welcome to Singapore. Two thousand years ago, in ancient Rome, enterprises contracted with the government to build temples and collect taxes. The enterprises funded these ventures by selling ownership or equity stakes in the form of [...]
New MD for MAS and Changes to the MAS Board of Directors
The Monetary Authority of Singapore (MAS) announced March 30 that Mr Ravi Menon will be appointed Managing Director with effect from 2 April 2011. He takes over from Mr Heng Swee Keat, who will retire from the Administrative Service on 2 April 2011. Mr Heng has made significant contributions to MAS since he joined the [...]
MAS: Reply to PQs on Proposed Merger of SGX and ASX
Date: For Parliament Sitting On 22 November 2010 Name and Constituency of Members of Parliament Teo Siong Seng, Nominated Member of Parliament; Ho Geok Choo, MP for West Coast GRC Questions Q631 Teo Siong Seng: To ask the Senior Minister if he can explain the rationale behind the planned acquisition of the Australian Securities Exchange [...]
Opening Address by Mr Ng Nam Sin Asst MD MAS at the 6th FIA Asia Derivaties Conference
Distinguished guests, Ladies and gentlemen, Introduction Good morning. It is my pleasure to join you today at FIA’s 6th Annual Asia Derivatives conference. To all our guests from overseas, I bid you a very warm welcome and I trust that you are having a pleasant stay in Singapore. 2010 Post Crisis Era I would like [...]
MAS Civil Penalty Enforcement Action For False Trading
The Monetary Authority of Singapore (MAS) has taken civil penalty enforcement action against Mr Tan Wee Kiat Melvin for contravening the false trading provisions under section 197(1)(b) of the Securities and Futures Act (SFA). Mr Tan is a trading representative of CIMB-GK Securities Pte Ltd. On 11 August 2009, Mr Tan placed four sell orders [...]
Speech by Mr Ong Chong Tee Deputy Managing Director MAS at the launch of SMX
Distinguished guests, ladies and gentlemen, Good morning. It is my pleasure to be here on the occasion of the launch of the Singapore Mercantile Exchange’s electronic trading platform. I congratulate the Board and Management of SMX on the launch of the first pan-Asian multi-product commodity and currency derivatives exchange. Since its founding, Singapore has been [...]
MAS Takes Supervisory Action Against DBS Bank
The Monetary Authority of Singapore (MAS) has taken supervisory action against DBS Bank Ltd for the service outage of its online and branch banking systems on 5 July 2010 which caused significant inconvenience to the bank’s customers. 2. As directed by MAS, DBS Bank and IBM, its outsourcing vendor, have conducted an investigation into the [...]
