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OUR MISSION
OUR OBJECTIVES
 
Supervision
Inspections and
Supervisory Reviews
New Legislation
Enhancing Regulatory Frameworks
Market and Business Conduct
Risk Management
B THE FINANCIAL SECTOR: KEY SUPERVISORY
AND REGULATORY INITIATIVES
 
  Inspections and Supervisory Reviews 32
 
BASEL II Implementation  
32
 
Box 1 – BASEL II Implementation in Singapore  
33
 
Thematic Inspections Relating to Anti-Money
 
Laundering/Countering Financing of Terrorism
34
 
Thematic Inspections on Asset-Liability
 
and Capital Management for Life Insurers
35
 
Box 2 – Monitoring Hedge Funds in Singapore  
36
 
Thematic Inspections of Corporate Finance Advisers  
37
 
Thematic Inspections on E-trading of Futures Contracts  
37
 
Inspections of Fund Management Companies  
37
 
Box 3 – Developing and Enforcing Supervisory
 
Regimes for Real Estate Investment Trust  
38
 
Box 4 – Thematic Supervisory Work on Financial Advisers  
39
 
  INSPECTIONS AND SUPERVISORY REVIEWS

Thematic Inspections of Corporate Finance Advisers
 

MAS conducted a series of thematic inspections of corporate finance advisers in 2005. The objective was to assess industry adherence to the Guidelines on Due Diligence in the Context of an Initial Public Offering in Singapore, issued by the Singapore Investment Banking Association (SIBA) in August 2004. Some common observations from the thematic inspections were inadequate due diligence procedures and insufficient controls over areas such as staff trading and conflict management. We shared the overall findings from the thematic inspections at an industry roundtable to raise awareness of industry best practices. We also set out our expectations on due diligence and internal controls required of corporate finance advisory firms.