Latest MAS News & Updates
Prohibition Order passed by MAS against Mr Pan Qi for dishonest conduct
As per the state Court of Singapore Mr. Pan was engaged in a business that operated as fraud under the Securities and Futures Act. Mr. Qi is prohibited from doing: – Any regulated activity Taking part in the management Acting as a director Mr. Qi cannot become a substantial shareholder...
Read More5 years prohibition order (PO) has been issued against Mr. Chong Yew Mun Alan by MAS for market misconduct on 3 September 2024.
MAS has observed the following breaches: –• Mr. Chong was not performing the financial advisory and capital markets services honestly. Mr. Chong is prohibited from doing: –• Any financial advisory service • Taking part in the management• Acting as a directorMr. Chong cannot become a substantial shareholder of any financial...
Read MoreUnderstanding the Fair Dealing Guidelines
Understanding the Fair Dealing Guidelines The Monetary Authority of Singapore (MAS) has recently updated its Fair Dealing Guidelines, effective from May 30, 2024. The Fair Dealing Guidelines are a set of principles aimed at promoting fairness in the financial industry. The Board of Directors and Senior Management of financial institutions...
Read MoreBCM Audit – Deadline by June 2024
BCM Audit – Deadline by June 2024 The Monetary Authority of Singapore (MAS) has published a revised Business Continuity Management (BCM) Guidelines on June 6, 2022. All the financial institutions must comply with the new guidelines, create a plan for a BCM audit within a year of issuance, and conduct...
Read MoreRepeal of RFMCs and Transition to CMS license
Repeal of RFMCs and Transition to CMS license The Monetary Authority of Singapore (MAS) has proposed to repeal RFMCs (Registered Fund Management Companies) and transition to CMS (Capital Markets Services) licenses as part of regulatory changes in the financial sector. The transition aimed to streamline regulatory processes, enhance market supervision,...
Read MoreBCM Audit 2024
BCM Audit 2024 MAS is concerned about the stability of licensed/ registered entities (“entities”) and the overall financial system, requiring them to implement controls to minimize operational disruptions, identify potential failure points early, and eliminate them where possible. An effective Business Continuity Management (BCM) framework is essential to minimize the...
Read More