MAS: Annual report 2006 / 2007
CONTENTS
HOME
 
TEAMWORK - Our Partners
SINGAPORE 2006 INTERNATIONAL MONETARY FUND AND WORLD BANK GROUP ANNUAL MEETINGS
WORKING WITH INDUSTRY
FINANCIAL COOPERATION
WORKING WITH INDUSTRY 46
Dialogues with Professional Associations 46
Singapore Investment Banking Association Equity  
  Derivatives & Structured Products Taskforce 47
Industry Work Group On Securities And  
  Futures Act / Financial Advisers Act Amendments 47
Representative Notification Framework 47
Survey On Compliance Costs 47
Box 11 - MoneySENSE - Taking On A Much Higher Profile 48
Box 12 - Sixth International Advisory Panel Meeting 49
Box 13 - MEPS+: Improving The Efficiency Of Payment  
  Systems And Its Impact On Our Customers 50
Building A World Class Talent Pool for Singapore’s Financial Sector 50
Building A Quality Workforce 51
Attracting Financial Talent 51
Financial Research 51
Box 14 - Overseas Outreach Efforts 52
 
Survey on Compliance Costs
In response to industry feedback about the cost of compliance with regulations in Singapore, we conducted a survey on compliance costs of Capital Markets Services licensees. Most firms considered regulatory compliance costs in Singapore to be reasonable, especially in the context of greater regulatory and legal scrutiny globally. Generally respondents did not find compliance costs to be disproportionate to their level of business activities, and rated them as being comparable to compliance costs in other jurisdictions.