MAS welcomes the recent announcements from banks and insurers in Singapore to support their customers who may be facing financial difficulties brought about by the impact of the ongoing 2019 novel coronavirus (COVID-19) outbreak.
Following the raising of the DORSCON Alert Level from Yellow to Orange, MAS issued an advisory on 7 February 2020 for financial institutions in Singapore to adopt additional measures and precautions. This is the third advisory to financial institutions since January 2020.
MAS and the US Treasury issued a US-Singapore Joint Statement on Financial Services Data Connectivity. While this statement of intent is not legally binding, it articulates the common stand MAS and the US Treasury have on cross-border data connectivity.
MAS conducted thematic inspections on the sales and advisory practices of selected financial institutions operating in the private banking industry over 2018 and 2019. This information paper highlights inspection observations and MAS’ supervisory expectations that relevant financial institutions should benchmark themselves against.
MAS Staff Paper No. 57, February 2020 - By Joseph Goh, Heedon Kang, Zhi Xing Koh, Jin Way Lim, Cheng Wei Ng, Galen Sher, and Chris Yao
This consultation paper sets out MAS' proposals to revise the requirements in the area of expense charging and allocation to the participating fund.
- Consultation number:
- Start date:
- 06 February 2020
- Closing date:
- 09 March 2020
Promoting Economic Growth & Financial Stability
Maintaining a Robust, Resilient & Trusted Financial Centre
Developing an Innovative & Inclusive Financial Centre