1. MAS (Monetary Authority of Singapore) has issued a consultation paper proposing amendments to the capital requirements for locally incorporated RMOs (recognised market operators). MAS published a feedback statement to the consultation proposing amendments to MAS Notices 612, 1005, 637, and 1111 in relation to the changes in the recognition and measurement of allowance for credit losses—introduced in International Financial Reporting Standard 9 (IFRS 9) and Singapore Financial Reporting Standard (SFRS) 109.. MAS Consultation Paper 3 Revision: 1.0 | 28 May 2020 www. On 22 May 2018, the Monetary Authority of Singapore (“MAS”) issued two (2) consultation papers to improve market operators’ business flexibility when establishing new centralized trading facilities and speed to market when launching new products. 1.2 MAS invites interested parties to provide their comments and feedback. Currently, the RMO regime does not allow access to retail investors. Post. MAS released a consultation paper on 11 February 2015, as part of its expansion of amendments to regulate over-the-counter ... (“RMO”). Introduction. On 28 April 2017, the Monetary Authority of Singapore ("MAS") issued the first of two consultation papers on draft regulation to support the implementation of legislative amendments to the Securities and Futures Act ("SFA"), referred to as Consultation Paper I on Draft Regulations Pursuant to the SFA ("Consultation Paper"). MAS proposes to introduce a direct liquidity requirement for recognised market operators, and to revise downward the solvency requirement. 28 June 2020 Evaluation of the effects of too-big-to-fail reforms: consultation report Public consultation on the FSB’s evaluation. Midwife Accreditation Standards Consultation Paper 3. It contains detailed technical specifications for insurers to conduct the second full scope Quantitative Impact Study (QIS 2). ... MAS reserves the right not to publish any submission received where MAS considers it not in the public interest to do so, such as where the submission appears to be libellous or offensive. CONSULTATION PAPER I ON DRAFT NOTICES AND GUIDELINES PURSUANT TO THE SECURITIES AND FUTURES ACT 6 OCT 2017 Monetary Authority of Singapore 8 5 Notice for Risk-Based Capital Adequacy Requirements for Holders of Capital Markets Services Licences 5.1 MAS is consulting on consequential amendments to the RBC Notice to effect the Question Title * 1. The proposals, set out in a consultation paper, are part of MAS' broader objectives to facilitate innovation in financial services by recognising emerging new business models while safeguarding investors' interest. 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. The consultation paper summarises the changes proposed in response to the key issues raised by industry and sets out the revised mortgage bond standard in an exposure draft for final consultation. The proposed guidelines (found in Annex A of the Consultation Paper), sets out a two-stage test as follows: Stage 1: Determining whether the activity amounts to the provision of financial advice . Get notified whenever news and updates are posted on this website. MAS Consultation Paper I On Draft Regulations Pursuant To The Securities And Futures Amendment Act. In addition, In its consultation paper released on 14 November 2018, MAS sought comments on the regulated activities which may be suited for Sandbox Express and outlined the Sandbox Express principles and governance framework. Consultation Number: P010 - 2018. CBIRC Finalises Enhanced Rules for Trust Companies. Upon deciding to apply, it must notify MAS within the same period of T+3 months, although VCCs are required to engage an Eligible Financial Institution, ... MAS Announces Measures to Develop Financial Sector Workforce. New multi-tier regime for market operators . Subordination and risk retention . 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. As such, if respondents would like: (i) their whole submission or part of it (but not their identity), or (ii) their identity along with their whole submission, According to MAS, the key risk posed by an RMO to the financial system is operational risk, i.e. MAS consultation paper sets out new requirements to curb market abuse. CONSULTATION PAPER ON REVIEW OF THE RECOGNISED MARKET OPERATORS REGIME 22 MAY 2018 Monetary Authority of Singapore 3 1 Preface 1.1 The Monetary Authority of Singapore (“MAS”) currently regulates market operators under two categories, namely the approved exchanges (“AEs”) and the recognised market operators (“RMOs”). RESPONSE TO CONSULTATION PAPER. Residential Mortgage Obligations (RMO): Introducing a high grade residential mortgage backed securities framework for New Zealand – Exposure Draft (November 2018) (PDF 747KB) MAS sought public comments on its key policies on the VCC framework from 23 March 2017 to 24 April 2017 in the “Consultation Paper on the Proposed Framework for Singapore Variable Capital Companies” (“2017 Policy Consultation Paper”). MAS issues two consultation papers on (i) new multi-tier regime for market operators, and (ii) shift to product notification regime for new derivative products Allen & Gledhill is one of the largest and leading law firms in Singapore, with a notable and increasing presence in the South-east Asian region. *This has been updated to reflect the extension to the consultation period. In all three cases, the approved period of the sandbox is capped at six months. The 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) Act 2017 ("SFAA") on 9 January … Introduction . Background. Consultation Paper on the Proposed AML/CFT Notice for Variable Capital Companies This consultation sets out MAS’ proposed regulations relating to anti-money laundering and countering the financing of terrorism, applicable to variable capital companies incorporated … MAS has issued a Consultation Paper proposing a Notice on Identity Verification. 5.32 AM Jan 5th. The opinions expressed in the paper are those of the author(s) and not of the MAS. 30 August 2018. The parallel run will provide sufficient data points for MAS to make comparisons of the existing and revised returns. MAS issues a Consultation Paper on proposed AML/CFT Notices for Payment Services Providers. MAS cited in a consultation paper released on Monday that the absence of information and delays associated with the retrieval of information on individuals who own or control trading accounts have impeded investigations into market abuses. 9 July 2020. On 25 June 2020, the Monetary Authority of Singapore (“MAS”) issued three consultation papers on proposed Guidelines on Environmental Risk Management for banks, insurers and asset managers (collectively, “proposed Guidelines”).The consultation closes on 7 August 2020.. harmonized manner, we recommend that MAS allow a two-year phase-in period so FIs of different sizes have sufficient time to comprehensively identify material gaps, and establish and implement additional controls where required. Mon, Aug 05, 2019 - 2:00 PM. Consultation Paper on Review of the Recognised Market Operators Regime, Template for Submission of Feedback P010 - 2018, Supervisory Approach and Regulatory Instruments, Lists of Designated Individuals and Entities, Grants for Smaller Financial Institutions, Recent Economic Developments in Singapore, Singapore Overnight Rate Average (SORA) Interest Rate Benchmark, Singapore Government Securities (SGS) Bonds, Investing in Singapore Government Securities (SGS) Bonds, Investing in Singapore Savings Bonds (SSB), Brunei-Singapore Currency Interchangeability Agreement, Reproduction of Singapore Currency Images, Money and Banking Monthly Statistical Bulletin, Financial Sector Development Fund Annual Report, Monetary Authority: Assets and Liabilities, International Reserves/Foreign Currency Liquidity, Interest Rates of Banks and Finance Companies, View a list of Application Programming Interfaces (APIs), Opportunities for Mid-Career Professionals. all submissions received. Published on 16th January 2020. MAS Consultation Paper I on Draft Regulations Pursuant to the Securities and ... it comes under the scope of the re-enacted Part II as a market operator and to decide whether to apply to MAS for AE or RMO status. Online survey respondents (n=229) reflected a … This consultation paper seeks feedback on proposed revisions to the regime governing banks' and merchant banks' outsourcing arrangements, including proposed amendments to the Banking Act. Closing Date: 22 June 2018. RESPONSE TO CONSULTATION PAPER. On 28 April 2017, the Monetary Authority of Singapore ("MAS") issued the first of two consultation papers on draft regulation to support the implementation of legislative amendments to the Securities and Futures Act ("SFA"), referred to as Consultation Paper I on Draft Regulations Pursuant to the SFA ("Consultation Paper"). MAS proposes the initial set of pre-defined sandboxes for insurance broking, recognised market operator (“RMO”) and remittances. 3 1.1 The RMO framework 4 1.2 Changes in response to submissions 5 . 1.1 The Monetary Authority of Singapore (“MAS”) sets out in this consultation paper the proposed capital requirements to be imposed on locally incorporated Recognised Market Operators (“RMOs”). MAS Staff Papers analyse issues of current interest. Licensing, Authorisation and Registration. The Monetary Authority of Singapore (“MAS”) has published its Response to Parts 3 and 4 of the Consultation Paper on “Proposed Amendments to the Securities and Futures Act, Financial Advisers Act and Trust Companies Act”. INMO 2020 – Solutions: PRMO 2018 Question Paper. P a g e | 1 1 . The Authority publishes formal consultation papers to industry as part of the development process for its on going enhancements to Bermuda’s regulatory framework for insurance. Navin Sregantan navinsre@sph.com.sg @NavinSreBT. Listing of Consultation Papers. 30 August 2018. Consultation for New RMO Regime Tiering. RMO: INMO: PRMO 2019 Question Paper. On 22 May 2018, the Monetary Authority of Singapore (MAS) began a consultation to seek public feedback on its proposed changes to the Recognised Market Operators (RMOs) regime.The proposed changes are intended to advance MAS’s objective to drive innovation in financial services, whilst protecting investors’ interests. MAS Consultation Paper 3 Revision: 1.0 | 28 May 2020 www. We are also pleased to respond in what follows to the questions outlined by MAS in the consultation paper on Proposed Revisions to Guidelines on Business Continuity Management and we would welcome the opportunity to discuss our response in more detail during a meeting or call and answer any questions you might have. The first Consultation Paper (AML/CFT Consultation Paper) deals explicitly with some of the standards and requirements expected of VCCs in relation to anti-money laundering and … Access regulations, updates and licensing information, Regulations, guidance and licensing for deposit-taking institutions, Regulations, guidance and licensing for capital market entities, Regulations, guidance and licensing for insurers, Regulations, guidance and licensing for payment service providers and systems, Information on MAS’ approach, strategies and efforts in these key areas, MAS’ approach to supervision and the instruments under the Acts it administers, Find out about MAS’ strategies to develop and support the financial sector, Discover what makes Singapore a leading global financial centre, Find out how MAS is co-creating a Smart Financial Centre, Latest information on MAS’ FinTech strategy, initiatives and funding schemes, Get funding on proof-of-concepts, hiring, business development and more, Sandbox relaxes regulatory requirements to enable live experiments of innovation, Various payment initiatives including SGQR, FAST and PayNow, World’s first open architecture platform for FIs to discover FinTechs and deploy solutions, The GTCN is a cross-border DLT project to digitalise trade and trade finance, Industry collaboration that explores blockchain’s usage for Central Bank Digital Currency, World’s largest festival for the FinTech community to connect, collaborate and co-create, Fast track intellectual property protection through various initiatives, A collaborative AI-driven global solutions hub to foster SME digitalisation, Find out about the opportunities and plans that MAS has to grow your business areas, Read about the support that is available for your business operations, Find out how MAS and our partners build a pipeline of financial professionals and leaders, Read about MAS’ monetary policy framework, central bank operations and related information, Get information on SSB, SGS Bonds, T-bills, MAS Bills and MAS FRN, Discover more about the Singapore’s currency, Access the various consultations, monographs, macroeconomic reviews and other publications, View data on Singapore’s financial sector, reserves statistics, exchange rates and others, Get the latest news, speeches, updates and announcements, Find out about working in MAS and the various opportunities that are available, This consultation seeks views on the proposed capital requirements to be imposed on locally incorporated Recognised Market Operators. 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