Events listed in Singapore
Circular on Money Laundering and Terrorism Financing Risks in the Wealth Management ...
ID 22126
The Monetary Authority of Singapore (MAS) has issued a new circular as regards the anti-money laundering (AML) and the countering of the financing of terrorism (CFT) practices of authorized institutions. Specifically, MAS outlines its expectations as regards firms‘ monitoring of money laundering (ML) and the financing of terrorism (FT) risks in view of the growing „wealth management sector“ in Singapore. The circular thereby covers ...
Written reply to Parliamentary Question on protection for Singapore companies ...
ID 22106
In a recent parliamentary sitting, the Prime Minister of Singapore was asked the following – as quoted: (a) how are Singapore companies protected against short-selling companies like Hindenburg Report which earn money by betting on stocks falling especially when such reports may not be true? and (b) what safeguards do Singapore investment companies have against such short sellers undermining their assets? In its response, ...
FAQs on Trust Companies Act and Trust Companies Regulations
ID 22093
The Monetary Authority of Singapore (MAS) has issued an updated version of its frequently asked questions (FAQs) relating to the operation of trust companies. The FAQs primarily – clarify the scope of the Trust Company Act (who does it apply to, who’s exempt from holding a trust license?), – outline the difference between the Trust Company Act and the Trustees Act, – describes MAS‘ ...
Notice SFA 04-N21 on Business Conduct Requirements for Corporate Finance Advisers
ID 21993
Following a consultation in December 2021 as regards the „Introduction of Due Diligence Requirements for Corporate Finance Advisers“ (please see EventID 13776 in this context for more information), the Monetary Authority of Singapore, MAS, has now published a response paper and a final Notice (SFA 04-N21) in this context. To recall, in its consultation MAS sought feedback on due diligence requirements of firms and ...
Launch of Real-time Payments between Singapore and India
ID 21962
The Monetary Authority of Singapore, MAS, and the Reserve Bank of India, RBI, have published a joint press release to announce the launch of a new payment system linkage between Singapore and India. Specifically, the new link between Singapore’s PayNow system and India’s Unified Payments Interface (UPI) will permit customers to transfer funds between the two countries in real-time using only a „mobile phone ...
Industry Taskforce launches Third Consultation on Green and Transition Taxonomy
ID 21899
The Monetary Authority of Singapore (MAS) has published a news release to announce that the Green Finance Industry Taskforce (GFIT) has issued another, a third consultation paper as regards a Green and Transition Taxonomy in Singapore. To recall in a first consultation paper the Taskforce proposed a classification system for activities that are considered sustainable. The classification would be based on a „traffic-light” system ...
Public Consultation on Legislative Amendments to Enable the Conduct of General ...
ID 21812
The Monetary Authority of Singapore (MAS) together with the Accounting and Corporate Regulatory Authority (ACRA), and the Ministry of Finance (MOF) has launched a public consultation to also permit the holding of general meetings by electronic means. Specifically, following the enactment, firms would be allowed to hold general meetings in hybrid or virtual form only – if they wish to do so. Currently, Singapore ...
Notice on Supervision of Market Participants (SFA 02-N02)
ID 21759
The Monetary Authority of Singapore (MAS) has published revised Notice SFA 02-N02 regarding the list of all MAS-recognized market operators as set out in Annex A of the Notice. Such operators are obliged to implement and maintain policies and procedures to ensure thorough and effective control of market participants engaged in securities trading on their trading venue. The latest revised document indicates that two ...
Brunei Darussalam Central Bank and Monetary Authority of Singapore Deepen ...
ID 21714
The Monetary Authority of Singapore, MAS, has published a press release to announce the signing of a Memorandum of Understanding (MoU) with the Brunei Darussalam Central Bank which is the key regulatory authority of Brunei responsible for the oversight of financial market participants. The objective of the agreement is to effectively cooperate and exchange information in connection with the cross-border supervision of banks and ...
Income Tax (International Tax Compliance Agreements) (Multilateral Competent ...
ID 21643
The above named order was published on Singapore Statutes Online Platform, the official website of the Singapore government to publish legal texts. The order amends the Income Tax (International Tax Compliance Agreements) (Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information) Order 2018 simply to include – Saint Martin (Sint Maarten) and – Jamaica in the list of countries with which Singapore ...