Dear Editor

I refer to "Should MAS act?" (ST Forum, 24 April 2010).

Entities offering securities to the public in Singapore are required to comply with the Securities and Futures Act which, among other things, requires proper disclosure of the features and risks of the product.  Where there is a breach of regulation or law, MAS will take appropriate regulatory action.    MAS also monitors developments in various jurisdictions.  However, not all developments in other jurisdictions will be equally applicable in Singapore.

Angelina Fernandez
Director (Communications)
Monetary Authority of Singapore