THE FINANCIAL SECTOR:
KEY SUPERVISORY AND REGULATORY INITIATIVES
     
Content Page
Supervision
Regulation
Risk-based Regulatory Regime
Fine-Tuning Regulatory framework
Ensuring Sound Market Conduct
Innovative Systems for Efficient Payment
and Settlement
 
 
FINE-TUNING REGULATORY FRAMEWORK
 
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Enhancing Regulations for Investment-linked Policies and Unit Trusts . Consolidating Rules on Credit and Charge Cards
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Risk Management Guidelines . Win-win Partnership with Industry
. Divesting Non-financial Businesses
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Revised Regulations on Credit Files, Grading and Provisioning    
 
Risk Management Guidelines
 
Following consultation with industry, MAS is reviewing the proposed guidelines on Sound Risk Management Practices and incorporating industry feedback, where appropriate. The final guidelines are expected be issued in the third quarter of 2004. In addition, we released a consultation paper on outsourcing guidelines in April 2004, setting out our expectations for financial institutions who entered into outsourcing arrangements with
service providers. Based on international good practice, the guidelines focus on material outsourcing. They make clear that we expect financial institutions to establish risk management practices commensurate with their risk appetites. The guidelines complement the Internet Banking Technology Risk Management guidelines, released in June 2003, which address outsourcing of IT processing functions and operations.