MAS Consultation Paper 3 Revision: 1.0 | 28 May 2020 www. CONSULTATION PAPER I ON DRAFT NOTICES AND GUIDELINES PURSUANT TO THE SECURITIES … Such consultation facilitates input from the market in parallel to ensuring that any proposed regulatory changes will be effective and consistent with international standards. 5.32 AM Jan 5th. 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, Open Discussion/Consultation Papers 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 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. Consultation Paper on Review of the Recognised Market Operators Regime; Consultation Paper on Draft Notice on Listing, De-Listing or Trading of Products for Approved Exchanges and Recognised Market Operators; Both consultations closed on 22 June 2018. 1. Consultation Paper on Capital Requirements for RMOs, Annex B - Notice on Capital Requirements for RMOs, 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. 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. Answer Key to PRMO 2019: RMO Question Paper 2019. Residential Mortgage Obligations (RMO) Framework . Answer Key to PRMO 2018: For RMO held on October 7, 2018: Answer Key to RMO 2018. Navin Sregantan navinsre@sph.com.sg @NavinSreBT. MAS will endeavour to complete the assessment and respond to the applicant within 21 days from the date of receiving the application. 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.. The latest MAS Consultation Paper will mandate the types of information Financial Institutions (FIs) are required to use to verify the identity of an individual for non-face-to-face KYC, which consequently impacts how FinTech and Blockchain-based platforms conduct non-face-to-face KYC. The parallel run will provide sufficient data points for MAS to make comparisons of the existing and revised returns. MAS (Monetary Authority of Singapore) has issued a consultation paper proposing amendments to the capital requirements for locally incorporated RMOs (recognised market operators). 3. Background. MAS issues a Consultation Paper on proposed AML/CFT Notices for Payment Services Providers. 01.02.2020 - C'est du beau hat diesen Pin entdeckt. Please note that . Entdecke (und sammle) deine eigenen Pins bei Pinterest. 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. 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. In addition, 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 … INMO 2020 – Solutions: PRMO 2018 Question Paper. Introduction. Login to BizFile + Highlights. This consultation paper sets out the proposals to strengthen the SGD Singapore Interbank ... MAS intends to designate SIBOR and SOR as key financial benchmarks. 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. MAS Consultation Paper 3 Revision: 1.0 | 28 May 2020 www. RESPONSE TO CONSULTATION PAPER Consultation topic: Technology Risk Management Guidelines Organisation: Asia Securities Industry & Financial Markets Association (ASIFMA) Contact number for any clarifications: Laurence Van Der Loo, Director (852) 2531-6511 Clement Kwan, Analyst (852) 2531-6519 Email address for any clarifications: lvanderloo@asifma.org ckwan@asifma.org Confidentiality I wish … 9 July 2020. 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 proposes the initial set of pre-defined sandboxes for insurance broking, recognised market operator (“RMO”) and remittances. ... MAS reserves the right not to publish any submission received where MAS considers it not in the public interest to do so, ... MAS seeks comments on the simplified requirements for RMO Tier 3 as set out in paragraph 3.2. Residential Mortgage Obligations (RMO): Introducing a high grade residential mortgage backed securities framework for New Zealand – Exposure Draft (November 2018) (PDF 747KB) 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”. 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 (Monetary Authority of Singapore) has issued a consultation paper proposing amendments to the capital requirements for locally incorporated RMOs (recognised market operators). VCCs are required to engage an Eligible Financial Institution, ... MAS Announces Measures to Develop Financial Sector Workforce. Question Title * 1. MAS Consultation Paper Proposed Guidelines on Environmental Risk Management - Banks 19 July 2020 View full consultation paper here. Kindly follow our Code of Conduct and refrain from posting any abusive, promotional or gibberish content on forum. Introduction . 2. The Monetary Authority of Singapore ("MAS") released its consultation paper (the "Consultation Paper") on notices to banks and merchant banks ("MBs") on management of outsourced relevant services (each a "Notice", and collectively the "Notices") on 18 December 2020.The consultation period closes on 29 January 2021. 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"). Proposed Sandbox Express principles and governance framework 30 August 2018. According to MAS, the key risk posed by an RMO to the financial system is operational risk, i.e. MAS released a consultation paper on 11 February 2015, as part of its expansion of amendments to regulate over-the-counter ... (“RMO”). • Given the considerable number of footnotes in the consultation paper… 3.5. Start Date: 22 May 2018. Closing Date: 22 June 2018. 28 June 2020 Evaluation of the effects of too-big-to-fail reforms: consultation report Public consultation on the FSB’s evaluation. Consultation topic: 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. MAS Publishes Responses to VCC Consultation Papers. On 30 April 2019, the Monetary Authority of Singapore (MAS) published two consultation papers (Consultation Papers) pertaining to the proposed new regulations for the Variable Capital Company (VCC) framework. It contains detailed technical specifications for insurers to conduct the second full scope Quantitative Impact Study (QIS 2). 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”. RMO: INMO: PRMO 2019 Question Paper. 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. On 21 July 2020, the Monetary Authority of Singapore ("MAS") released a consultation paper to seek feedback in relation to a proposed new omnibus act for the financial sector ("Omnibus Act").This Omnibus Act would have provisions moved from the Monetary Authority of Singapore Act (Cap 186), as well as new provisions. feedback received from the second consultation paper on MAS [ review of the R framework (R 2) in 20141, as well as the subsequent engagements MAS had with the industry. By Editors, Regulation Asia. anmac.org.au Page 7 of 25 Background Consultation paper 2 A total of 254 stakeholders responded to the online survey and/or provided written responses to Consultation Paper 2. Published on 16th January 2020. Under the new proposed framework, a locally incorporated corporation operating organised markets that are systemically important will be regulated as an AE and other corporations, including foreign corporations, will be regulated as RMOs. 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. Page 8 of 18 2 Proposals for Enhancing SIBOR 2.1 Tenor Review 2.1.1 SIBOR is currently computed and published in four tenors: 1, 3, 6 and 12-month. Consultation for New RMO Regime Tiering. CBIRC Finalises Enhanced Rules for Trust Companies. The opinions expressed in the paper are those of the author(s) and not of the MAS. In the Second Consultation Paper Response, MAS stated it will be proceeding with the six-month parallel run it had proposed as this will help to mitigate the risk of a direct cutover. respect of this Paper. MAS proposes to issue an Outsourcing Notice for Banks and Merchant Banks that will set out identical requirements for banks and merchant banks in respect of outsourcing arrangements which are material. RMO Tier 1 is a new tier for market operators that serve a limited base of retail investors, said MAS. 2 . 1.2 MAS invites interested parties to provide their comments and feedback. New multi-tier regime for market operators . Answer Key to RMO 2019: INMO 2020 – Questions. The normal period for consultation is 30 days however, the period for consultation may be less than 30 days to enable speed to market. 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”). Currently, the RMO regime does not allow access to retail investors. Consultation Paper on the Proposed Scope of Application of the IAC Guidelines On 26 April 2018, MAS issued a Consultation Paper on Guidelines on Individual Accountability and Conduct, and this consultation closed on 25 May 2018. Portfolio guidelines . 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. The MAS Survey of Professional Forecasters provides a summary of forecasts of Singapore's key economic indicators by economists and analysts. 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. Listing of Consultation Papers. Upon deciding to apply, it must notify MAS within the same period of T+3 months, although The Monetary Authority of Singapore (MAS) published yesterday a Consultation Paper about the proposed AML (anti-money laundering) and CFT (counter-terrorism financing) Notices for … all submissions received. 6 2.1 Eligible mortgage loans 7 2.2 Replenishment 8 . Licensing, Authorisation and Registration. Get notified whenever news and updates are posted on this website. In all three cases, the approved period of the sandbox is capped at six months. Post. RESPONSE TO CONSULTATION PAPER. Mon, Aug 05, 2019 - 2:00 PM. 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”). Our website uses third party cookies, you may need to allow these on your browser to complete your application. 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. *This has been updated to reflect the extension to the consultation period. 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. In relation to transitional arrangements, MAS has proposed within the present consultation paper that from the time the changes to Part II of the SFA takes effect (“T”), an entity will be given until T+3 months to assess whether 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. MAS Staff Papers analyse issues of current interest. MAS has proposed for the first stage to involve a determination of whether the activity under assessment amounts to providing financial advice. This consultation closes at 11.59 PM on 04 December 2020. 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”). MAS has issued a Consultation Paper proposing a Notice on Identity Verification. 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.. 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 … RESPONSE TO CONSULTATION PAPER Please note that all submissions received will be published and attributed to the respective respondents unless they expressly request MAS not to do so. Consultation Number: P010 - 2018. 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 . We take the quality of the messages posted on forum as seriously as our articles. There will be a new multi-tier regime for market operators, MAS said. 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. 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 Consultation Paper on Review of the Recognised Market Operators Regime. 6 Refer to MAS’ onsultation Paper (dated 28 May 2012) on Review of Regulatory Framework for Unlisted Margined Derivatives Offered to Retail Investors, and MAS’ Response Paper (dated 14 March 2014) on Review of Regulatory Framework for Unlisted Margined Derivatives Offered to Retail Investors. Oct 17, 2016 - Anatolia Tile & Stone Inc. :: Evolution HD Porcelain Tile 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. 13 May, 2017 . Submissions for the second Consultation Paper close on 23 June 2017. This consultation seeks views on the proposed capital requirements to be imposed on locally incorporated Recognised Market Operators. Legal News & Analysis – Asia Pacific – Singapore – Capital Markets. This was within MAS’s broader objective to facilitate innovation in financial services. Subordination and risk retention . 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. Licensing, Authorisation and Registration. ABS - SFEMC notes th at the use of SIBOR is concentrated in the 1-month and 3 … Get notified whenever news and updates are posted on this website. Responses to the first paper closed on 2 June 2017. The consultation closed on 13 December 2018. In relation to transitional arrangements, MAS has proposed within the present consultation paper that from the time the changes to Part II of the SFA takes effect (“T”), an entity will be given until T+3 months to assess whether 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. We look forward to sharing the final white paper over the next couple of weeks and will be happy to discuss further during a meeting. 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. 30 August 2018. ... 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. Please note that . 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. Consultation Paper on Capital Requirements for RMOs. MAS proposes to introduce a direct liquidity requirement for recognised market operators, and to revise downward the solvency requirement. P a g e | 1 1 . Public consultation on the FSB’s discussion paper. RESPONSE TO CONSULTATION 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. Contents . 3 1.1 The RMO framework 4 1.2 Changes in response to submissions 5 . MAS Consultation Paper I On Draft Regulations Pursuant To The Securities And Futures Amendment Act. Midwife Accreditation Standards Consultation Paper 3. MAS consults on first phase of draft regulations pursuant to the Securities and Futures Act including regulations on markets, financial benchmarks and collective investments schemes 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 MAS consultation paper sets out new requirements to curb market abuse. Such consultation facilitates input from the market in parallel to ensuring that any proposed regulatory changes will be effective and consistent with international standards. This bulletin summarises the MAS' key proposals in the Consultation Papers. anmac.org.au Page 7 of 25 Background Consultation paper 2 A total of 254 stakeholders responded to the online survey and/or provided written responses to Consultation Paper 2. One may pick it up for the short term in consultation with his/her financial advisor. 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