MAS has issued prohibition orders (POs) against two former bank employees for fraud and dishonest conduct, following their convictions in the State Courts of Singapore.

MAS has issued a Notice of Intention (NOI) to direct DBS Trustee Limited, the Trustee of Eagle Hospitality Real Estate Investment Trust (EH-REIT), to remove Eagle Hospitality REIT Management Pte Ltd (EH-REIT Mgt), the Manager of EH-REIT and appoint a new manager, in view of breaches of the Securities and Futures Act (SFA) by EH-REIT Mgt.

AGC, CAD and MAS pointed out today that the US$122 million to be paid by Goldman Sachs Singapore Pte (GSSP) to the Singapore Government has been incorrectly reported by several media as a ‘fine’ and as being on top of the US$2.9 billion to be paid by the Goldman Sachs Group Inc (GSG) and its affiliates pursuant to the Deferred Prosecution Agreement entered into between GSG and the US Department of Justice.

This study by Tian Xie and Jun Yu was published as Special Feature C in the October 2020 Macroeconomic Review.

This study by the Economic Policy Group, Monetary Authority of Singapore was published as Special Feature B in the October 2020 Macroeconomic Review.

The Macroeconomic Review provides an assessment of Singapore’s economic developments which formed the basis for MAS’ monetary policy decision in October 2020.