Preparing you for the future of finance . The Monetary Authority of Singapore (MAS), Singapore's financial regulatory body, believes in regulating the cryptocurrency ecosystem to monitor any risks associated with crypto activities, such as money laundering and terrorist financing, while also ensuring that it doesn't stifle innovation. The action comes as both central banks and commercial firms are targeted by attacks via third-party systems. Ensuring compliance with the MAS’s proposed Guidelines on Individual Accountability and Conduct will be a non-trivial exercise. ... from Q2 2021.In issuing these Guidelines, the MAS is … 5.0. The MAS said there had been a … The MAS also issued its response to frequently asked questions on the Guidelines (the FAQs) as well as an information paper on good practices in these areas (the Information Paper) gathered from a thematic survey and dialogue sessions conducted by the MAS with banks, insurers, and capital markets intermediaries. MAS considers price discovery and formation to be a key element of an organised market. * * * What do capital markets do? Read more at The Business Times. MMF Regulation: ESMA updates guidelines on stress tests ESMA has published a final report on guidelines on stress test scenarios produced under Article 28 of the Regulation … The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today updated its Questions and Answers on the European Benchmarks Regulation (BMR). —(1) These Regulations are the Securities and Futures (Organised Markets) Regulations 2018 and, except for regulation 12, come into operation on 8 October 2018. Outsourcing is one of the specific aspects of institutions [ governance arrangements. MAS also provides further guidance on IT outsourcing in MAS’ Technology Risk Management Guidelines. guidelines on the operations of the Nigerian Inter-Bank FX market ... registration and operational regulation on FX Options and will drive, with the market, the development of ... Financial Markets Department, Central Bank of Nigeria for clarification. THE Monetary Authority of Singapore (MAS) is seeking to impose new requirements on financial institutions (FIs) in Singapore to improve controls and facilitate investigations in market abuse cases. Directive 2014/65/EU (Markets in Financial Instruments Directive; MiFID II) contains explicit provisions regarding the outsourcing of functions in the field of investment services and activities. 2021 will be the year when ESG regulations start to take effect, with the Sustainable Finance Disclosure Regulation (SFDR) commencing in the EU, requiring asset managers to categorise and disclose on their funds according to climate and wider environmental criteria. FCI/G1/2018/1 Guidelines on Fit and Proper Criteria for FIs Frontline Staff (issued 11 June 2018) Notice No. In the new consultation paper, MAS proposes that the IAC Guidelines cover all the FIs that are currently regulated by MAS, with certain exemptions. Objective and Scope Testing for the presence of or past exposure to the SARS-CoV-2 virus is an essential aspect of combatting the COVID-19 outbreak and the associated public health crisis. In the capital markets sector, the IAC Guidelines apply to approved exchanges and clearing houses, approved holding companies, capital markets intermediaries, financial advisers and trust companies. On 2 December 2020, the Monetary Authority of Singapore (“MAS”) issued a consultation paper seeking feedback on proposed amendments to regulations, notices and guidelines arising from the Banking (Amendment) Act 2020 (“BAA”) and other changes.The consultation closes on 15 January 2021. The European Banking Authority (EBA) has published today its revised Guidelines on Internal Governance. MAS released a consultation paper on 11 February 2015, as part of its expansion of amendments to regulate over-the-counter (“OTC”) derivatives following the 2012 amendments to the Securities and Futures Act (“SFA”) in relation to the reporting and clearing of OTC derivative transactions and regulation of OTC derivative trade repositories and clearing facilities. These Guidelines aim at further harmonising institutions' internal governance arrangements, processes and mechanisms across the EU, in line with the new requirements in this area introduced in the Capital Requirements Directive (CRD IV) and also taking into account the proportionality principle. Market Supervision. ICE Futures Singapore Market Supervision is responsible for the management, monitoring and regulation of all trading activity for ICE’s Singapore futures markets. Keywords: Asia Pacific, Singapore, Banking, Securities, OTC Derivatives, Margin Requirements, Guidelines, Initial Margin, MAS The Q&As provide clarification on transitional provisions of the Regulation regarding critical benchmarks. b) maintain a register containing records of each of its appointed representatives’ total number of completed structured CPD training hours for each calendar year, and the principal must retain the register for a period of not less than 5 years from the end of the calendar year in which the appointed representative is appointed by the principal. Every individual on the Register has been certified by the CEO or Director of his/her financial institution to have met MAS' fit and proper criteria. Guidelines No. The Monetary Authority of Singapore published a set of revised cyber risk guidelines on January 18, warning that risks continue to grow. Acra, MAS and SGX RegCo said issuers and non-listed companies may continue to conduct their general meetings held on or before June 30, 2021 via electronic means and are encouraged to do so. The Guidelines were issued by the Monetary Authority of Singapore on 8 December 2020. ICE Futures Singapore is a Singapore-based approved Exchange, supervised by the Monetary Authority of Singapore (MAS). The sandbox will now offer greater flexibility to users, relaxing some of the initial criteria and allowing firms to adjust the work they are doing in the course of experiments, MAS said. EFAMA's reply to ESMA's CP on the Guidelines on the MiFID II / MiFIR Obligations on Market Data. Guidelines on COVID-19 in vitro diagnostic tests and their performance (2020/C 122 I/01) 1. The guidelines give more information on MAS's expectations of the sandbox, including the criteria for entry, MAS said. The guidelines are intended for entities exempted under section 99(1)(a), (b) and (c) of the Securities and Futures Act (Cap. Forex is one of the largest markets. Sebastien Danloy, global head of asset owners & managers, markets & securities services, HSBC. guidelines on institutions governance arrangements. While non-prescriptive in nature, FIs will need to conduct a proper and systematic analysis of their operations in Singapore and the risks attendant to their business in Singapore to ensure that responsibility for each material aspect is accounted for. The Monetary Authority of Singapore ("MAS") has on 10 September 2020 published its guidelines on individual accountability and conduct (the "Guidelines").The Guidelines seek to improve standards of conduct across the financial industry by promoting the individual accountability of senior managers, strengthening oversight of material risk personnel, and reinforcing standards of proper … MAS will also update its Guidelines on the Regulation of Markets to set out its interpretation of the new definition of "organised market". Ravi Menon: Singapore’s approach to the regulation of capital markets Keynote address by Mr Ravi Menon, Managing Director of the Monetary Authority of Singapore, at the Thomson Reuters 2nd Pan-Asian Regulatory Summit, Singapore, 28 September 2011. The Securities and Futures Commission – The SFC regulatory body oversees electronic trading regulations in Hong Kong. COMMUNICATION FROM THE COMMISSION. including operators of organised markets for the trading of OTC derivatives. Monetary Authority of Singapore – The MAS oversees a range of markets, including commodities trading regulations in Singapore. Securities markets regulation is concerned with overseeing the circulation of information about securities that are traded, monitoring the market for the abuse of information or financial resources to manipulate market and prices and supervising the corporate governance of organised markets. MAS Notice 634: Banking Secrecy – Conditions for Outsourcing states that in all outsourcing arrangements involving the disclosure of customer information to the service provider, banks must preserve the confidentiality of customer information. 17 December 2020. It is a statutory board established under the Monetary Authority of Singapore Act (Chapter 186 of Singapore) (the MAS Act), and is responsible for the micro-prudential supervision of individual financial institutions (FIs), including banks, and the macro-prudential oversight of the financial system as a whole. The MAS Covered Entity means a person who is exempt from holding a capital markets services license under section 99(1)(a) or (b)3 of the Securities and Futures Act. Distinguished guests, ladies and gentlemen, good morning. ... Key objectives for the creation of a Capital Markets Union - EFAMA letter to EU Commissioner McGuinness ... EFAMA feedback on draft Delegated Act of Taxonomy Regulation for … 289) for dealing in capital markets products that are not centrally cleared OTC derivatives contracts on the requirements set out in regulation 54B of the Securities and Futures (Licensing and Conduct of Business) Regulations. specify items to be deducted from the items referred to in regulation 2A(1)(a) to (g) that are additional to those set out in the MAS notice applicable to the holder; or (c) specify items to be deducted from the adjusted net head office funds of the holder that are additional to those set out in the MAS notice applicable to the holder. Guidelines on best execution ... requirements at the beginning of 2018 as an essential pathway to regulatory parity and continued smooth operation of markets. Parliament passed the BAA on 6 January 2020. FCIU/N1/2017/1 - AMENDMENT NO.1 Notice For The Establishment of a Complaints Handling Function within Fi nancial Institutions (issued 01 January 2018) Notice No. (2) Regulation 12 comes into operation on 1 October 2018. FCIU/N2/2017/1 N o tice on Market Conduct (issued 01 January 2018) A series of MOUs to deepen collaboration in financial services and innovation were announced at the 2nd Singapore-Shanghai Comprehensive Cooperation Council meeting on Friday.To continue reading... Sign in Password * Remember me Lost your password? Primacy of the Guidelines Forex Regulations. Details on the fit and proper criteria, which include competency, financial soundness and integrity, are set out in MAS' Fit and Proper Guidelines which are available on MAS…