Content      
HOME
OUR MISSION
OUR OBJECTIVES
 
Strengthening Regulatory and Regional
Financial Cooperation
Strengthening Financial
Stability
Promoting Information
Exchange and
Technical Assistance
E MAS IN THE INTERNATIONAL ARENA  
 
Box 17 - Singapore on the World Map –  
IMF-World Bank Annual Meetings  
82
     
  Strengthening Regulatory and Regional
Financial Cooperation
83
 
Banking  
83
 
Insurance  
84
 
Capital Markets  
84
   
Anti Money Laundering, Countering the Financing of Terrorism  
85
 
  STRENGTHENING REGULATORY AND REGIONAL
FINANCIAL COOPERATION

Capital Markets
 
MAS is an active member of the Asia Pacific Regional Committee (APRC), a regional committee of regulators under the International Organisation of Securities Commissions (IOSCO). The APRC seeks to promote sound and consistent securities regulation across the region. MAS chaired the APRC Meeting during the 2005 IOSCO Annual Conference in Colombo, Sri Lanka. Together with the China Securities Regulatory Commission, we co-chair a workgroup on the good practices of risk-based inspection. In addition, MAS co-chairs a workgroup with the Australian Securities and Investment Commission (ASIC). This workgroup’s objective is to facilitate cross border offering of collective investment schemes (CIS) among interested APRC jurisdictions by permitting an entity to offer CIS products in participating jurisdictions on the basis of compliance with a single framework.

Under the ASEAN Capital Market Forum, MAS and other ASEAN securities regulators continued work on harmonising regional standards in areas such as disclosure, distribution rules, accounting and auditing standards and professional qualifications.

MAS and the Thai Securities and Exchange Commission also entered into a Letter of Intent (LOI) in September 2005 that sets out initiatives for bilateral co-operation. The LOI covered cooperation in areas such as cross-border trading of collective investment funds, mutual recognition of professional qualifications and certification of financial professionals working in the field of securities and exploration of cross-border trading linkages between Singapore and Thailand. The proposed mutual recognition agreements will facilitate the cross-border distribution of mutual funds by reducing compliance costs and improving time-to-market. They will also make it easier for financial market professionals to work in member countries.