Reading Time: 5 minutesThe Monetary Authority of Singapore (“MAS”) has issued a consultation paper on 22 May 2018, inviting comments on a proposed new Notice on Listing, De-listing or Trading of Relevant Products on an Organised Market of an Approved Exchange or a Recognised Market Operator Incorporated in Singapore (“Notice”). The Notice sets out the notification regime for […]
MAS Consultation Paper on Draft Regulations for the Mandatory Trading of Derivatives Contracts
Reading Time: 2 minutesOn 21 February 2018, the Monetary Authority of Singapore (“MAS”) issued a consultation paper inviting comments on the proposed Securities and Futures (Trading of Derivatives Contracts) Regulations (“SF(TDC)R”) to operationalise the new Part VIC of the Securities and Futures Act (Cap. 289), with respect to mandatory trading of over-the-counter (“OTC”) derivatives contracts on organised markets […]
MAS Proposes Changes to AML/CFT Requirements for Licensed Money-Changers and Remittance Businesses
Reading Time: 3 minutesOn 16 January 2018, the Monetary Authority of Singapore (“MAS“) issued a consultation paper inviting comments on its proposal to amend anti-money laundering and countering the financing of terrorism (“AML/CFT“) requirements imposed on licensed money-changers and remittance businesses. MAS intends to implement these measures by issuing a new notice that would prohibit issuance of bearer […]
Four things to know about Singapore’s Proposed Cybersecurity Act
Reading Time: 3 minutesOn 8 January 2018, the Government introduced in Parliament for first reading of the long expected Cybersecurity Bill (the “Bill”). Here are four things to know about the proposed new legislation. #1 The role and powers of the Commissioner for Cybersecurity (the “Commissioner”) The Commissioner is given broad statutory responsibilities for overseeing and promoting […]
MAS Consultation Paper on Proposed Requirements on Execution of Customers’ Orders
Reading Time: 2 minutesOn 20 November 2017, the Monetary Authority of Singapore (“MAS”) issued a consultation paper inviting comments on its proposal to formalise its expectations of execution of customers’ orders by capital markets services licence holders, banks, merchant banks, and finance companies that conduct the regulated activities of dealing in securities, trading in futures contracts, leveraged foreign […]
MAS Consultation Paper on Draft Notices and Guidelines Pursuant to the Securities and Futures Act
Reading Time: 5 minutesThe Monetary Authority of Singapore (the “MAS“) has issued a consultation paper on 6 October 2017, inviting comments on proposed new notices and guidelines that elaborate on and set out the requirements of key changes to the regulatory framework of the Securities and Futures Act (“SFA“) following the enactment of the Securities and Futures (Amendment) […]
New Regulatory Regime in Singapore for Venture Capital Fund Managers
Reading Time: 3 minutesFollowing a consultation initiated in February 2017, the Monetary Authority of Singapore (“MAS”) has late last week moved quickly to introduce into Singapore law a new regulatory regime for fund managers who manage only venture capital funds. This note discusses the key elements of the new regime. Simplified Authorisation and Regulatory Regime Venture capital fund […]
MAS Consultation Paper on Changes to the Notification Requirement in relation to Representatives Serving Only Non-Retail Customers
Reading Time: 4 minutesOn 25 September 2017, the Monetary Authority of Singapore (“MAS”) issued a consultation paper proposing certain changes to streamline the Representative Notification Framework (“RNF”) for financial institutions (“FIs”) whose representatives serve only non-retail customers. For the purposes of this present consultation, a non-retail customer would be a customer who falls within the statutory definitions of […]
Accounting and Corporate Regulatory Authority (ACRA) Updates Guidance Notes on Setting up a Register of Controllers
Reading Time: 4 minutesOn 18 September 2017, the Accounting and Corporate Regulatory Authority (“ACRA”) issued revised versions of its written guidance in relation to the requirements on the register of controllers for Singapore companies, foreign companies registered in Singapore and limited liability partnerships (collectively known as “Corporate Entities”, and each a “Corporate Entity”) under Part XIA of the […]
Managing the Risks of Using Robo-Advisors
Reading Time: 7 minutesAfter assessing the unique characteristics and risks posed by digital advisers, the Monetary Authority of Singapore (MAS) has set out several specific expectations that the board and senior management of the digital adviser must address. This article details the key aspects of the MAS proposal. This article is written by Eric Chan from Shook Lin […]
MAS Proposes Revisions to the Competency Requirements for Representatives Conducting Regulated Activities under the Securities and Futures Act and Financial Advisers Act
Reading Time: 5 minutesOn 12 December 2016, the Monetary Authority of Singapore (“MAS”) issued a consultation paper inviting comments on proposed amendments to the competency requirements for appointed representatives under the Securities and Futures Act (Chapter 289) (the “SFA”) and the Financial Advisers Act (Chapter 110) (the “FAA”). The amendments relate to the Capital Markets and Financial Advisory […]
MAS Issues Regulatory Guidelines for FinTech Solutions Sandbox
Reading Time: 7 minutesOn 16 November 2016, the Monetary Authority of Singapore (“MAS”) issued new Fintech Regulatory Sandbox Guidelines (the “Guidelines”), along with a set of Frequently Asked Questions on the same (“FAQs”). These set out the objectives and principles behind a regulatory sandbox approach (“Sandbox”) for the development and implementation of financial technology (“FinTech”) solutions, and are […]