MAS requires OTC derivatives to be centrally cleared to mitigate systemic risk LeapRate

May 02, 2018 BY Valentina Kirilova

MAS requires OTC derivatives to be centrally cleared to mitigate systemic risk

The Monetary Authority of Singapore (MAS) announced that it will introduce regulations to require over-the-counter (OTC) derivatives to be cleared on central counterparties (CCPs), with effect from 1 October 2018. Central clearing will make the trading of OTC derivatives in Singapore safer as it mitigates counterparty credit risks inherent in these trades. The mandatory clearing…

April 02, 2018 BY Valentina Kirilova

MAS and financial industry to develop guidance on responsible use of AI

The Monetary Authority of Singapore (MAS) has announced that it is working with key industry stakeholders to develop a guide to promote the responsible and ethical use of artificial intelligence (AI) and data analytics by financial institutions. The guide will set out key principles and best practices for the use of AI and data analytics,…

March 15, 2018 BY Valentina Kirilova

Crypto Tokens: The Good, The Bad, and The Ugly

The Monetary Authority of Singapore (MAS)'s Managing Director, Mr Ravi Menon, has given a speech at Money20/20 event (15 March 2018). He spoke in details about... well, first of all, Money, but he has also shared his opinion on managing crypto risk, financial stability, money laundering, investor protection, and so much more. The complete text…

March 14, 2018 BY Valentina Kirilova

MAS and CAD to investigate all capital markets and financial advisory offences

The Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of the Singapore Police Force announced that they will extend the Joint Investigations Arrangement to cover all offences under the Securities and Futures Act (SFA) and Financial Advisers Act (FAA). This will allow for greater efficiency and more effective enforcement of capital markets…

February 26, 2018 BY Valentina Kirilova

Maharashtra State and Singapore announce closer FinTech cooperation

The Monetary Authority of Singapore (MAS) and the Government of Maharashtra (GoM) (Maharashtra is India’s second-most populous state and third-largest state by area. Mumbai is the capital city of Maharashtra) announced that they have signed a Memorandum of Understanding (MoU) on 18 February 2018 to strengthen cooperation in promoting FinTech innovation in the two markets.…

February 21, 2018 BY Valentina Kirilova

MAS consults on regulations to require OTC derivatives to be traded on organised markets

The Monetary Authority of Singapore (MAS) issued for consultation today proposed regulations to require the trading of over-the-counter (OTC) derivatives on organised markets, to help improve market transparency. This requirement will complete MAS’ implementation of the G20 OTC derivatives reforms. MAS proposes to impose obligations for the most globally-traded OTC derivatives, namely interest rate swaps…

February 14, 2018 BY Valentina Kirilova

MAS and the Central Bank of Egypt bolster FinTech cooperation

The Monetary Authority of Singapore (MAS) and the Central Bank of Egypt (CBE) announced that they have signed an agreement to strengthen FinTech cooperation between the two countries on 6 February 2018. The Cooperation Agreement was signed at Seamless North Africa 2018 (under the patronage of the CBE), a conference focused on Payments, FinTech and…

ATFX teams up with major payment providers for LATAM and the Middle East

February 13, 2018 BY Valentina Kirilova

MAS releases Guidelines to protect users of electronic payments

The Monetary Authority of Singapore (MAS) informed that it has today launched a public consultation on proposed guidelines to protect users of electronic payments (e-payments). The proposed E-payments User Protection Guidelines aim to encourage wider adoption of e-payments by setting standards on the responsibilities of financial institutions and e-payment users. Under the new Guidelines, individuals…

February 08, 2018 BY Valentina Kirilova

MAS encourages financial institutions to use technology to on-board customers more efficiently

The Monetary Authority of Singapore (MAS) has issued new guidance to financial institutions (FIs) on the use of innovative technology solutions to facilitate safe, non-face-to-face customer on-boarding. MAS requires FIs operating in Singapore to implement robust controls when onboarding new customers, e.g. when opening a bank account, to detect and deter money laundering or terrorism…

February 06, 2018 BY Valentina Kirilova

Malaysia and Singapore to set up stock market trading link

The Monetary Authority of Singapore (MAS) and the Securities Commission Malaysia (SC) announced that they will work together to facilitate the establishment of a stock market trading link between Bursa Malaysia (BM) and Singapore Exchange (SGX) by the end of this year. The trading link will allow investors to trade and settle shares listed on…

Tag: Monetary Authority of Singapore