7th MAS-CSRC Roundtable Deepens Cooperation in Capital Markets Supervision and Connectivity
Beijing, China, 22 May 2023… The Monetary Authority of Singapore (MAS) and the China Securities Regulatory Commission (CSRC) held their annual supervisory roundtable last Friday, where both regulators exchanged views on supervisory approaches and discussed initiatives to deepen capital markets connectivity between Singapore and China. MAS and CSRC also witnessed the signing of a Memorandum of Understanding between the Singapore Exchange and Shanghai Stock Exchange to establish an Exchange Traded Funds (ETF) Product Link
2. As capital market players in both countries continue to expand in each other’s markets, MAS and CSRC discussed China’s initial public offering (IPO) registration system and capital markets structural reform; Singapore’s supervisory approach for fund management and investor protection; as well as the regulation of derivatives markets in both countries. The roundtable also promoted collaboration between Singapore and Chinese exchanges to foster greater connectivity and cross-border capital market activities.
3. Ms Ho said, “MAS and CSRC have forged a strong partnership over the years. Our cooperation has supported the growth of Singapore and Chinese financial institutions and broadened mutual participation by players in both capital markets. The annual supervisory roundtable has been a valued platform for deepening this relationship through regular dialogue and cooperation on issues of mutual interest.”
Opening Remarks by Mr Ravi Menon, Managing Director of MAS, at the 25th Anniversary Celebration of IMF-Singapore Regional Training Institute
The partnership will focus on finding ways to better mobilise financing to make digital services more affordable and accessible for underserved individuals and communities, and MSMEs, with the support of financial institutions and FinTech companies.
MAS today launched a public consultation on its proposal to streamline the regulatory framework for fund managers. Specifically, the existing Registered Fund Management Companies (RFMCs) regime will be repealed, and existing RFMCs that are in operation will be approved as Licensed Fund Management Companies upon application.