Well-Functioning Capital Markets

Launch of Distributed Ledger Technology-based investment funds settlement utility and code of conduct for fund directors

31 August 2022

The Singapore Funds Industry Group (SFIG), a public-private partnership between the MAS and funds industry stakeholders, announced the pilot launch of Fundnode, an industry-wide investment funds settlement utility to improve the efficiency of funds settlement in Singapore, and a Code of Conduct for fund directors to enhance governance standards for investment fund directors. These initiatives further strengthen Singapore’s value proposition as a full-service asset management and fund domiciliation centre.

Business Trusts (Amendment) Bill 

3 October 2022

The Business Trusts (Amendment) Bill was passed in Parliament in October 2022 to enhance the transparency and governance of registered business trusts in Singapore. By streamlining regulatory requirements and reducing compliance costs, the amendments will improve the efficiency and robustness of the business trusts regulatory regime and improve Singapore’s business competitiveness. 

REIT Association of Singapore (REITAS) Conference  

7 October 2022

At the REITAS Annual Conference 2022, MAS Executive Director (Financial Markets Development), Mr Lim Cheng Khai, spoke about Singapore’s development into a REIT hub, and outlined MAS’ partnership with REITAS as well as opportunities for S-REITs in the post-pandemic world.

MAS imposed due diligence requirements for corporate finance (CF) advisers

23 February 2023

MAS issued a Notice setting out mandatory baseline standards of due diligence and conduct requirements for CF advisers. These requirements seek to  raise the standards of conduct of CF advisers, improve the quality of disclosures and allow investors to make informed decisions.

Consultation paper on enhancing safeguards for proper conduct of digital prospecting and marketing activities

Consultation paper on enhancing safeguards for proper conduct of prospecting activities at public places and telemarketing

25 April 2023

MAS sought views on the proposed enhancements to safeguards in the Guidelines on Standards of Conduct for Marketing and Distribution Activities to uplift standards in the conduct and management of prospecting activities at public places and telemarketing. 

Legislative amendments to enable the conduct of general meetings by electronic means

9 May 2023  

The Ministry of Finance (MOF), the Accounting and Corporate Regulatory Authority (ACRA) and MAS introduced legislative amendments to the Companies Act 1967, the Business Trusts Act 2004 and the Variable Capital Companies Act 2018 to provide companies, business trusts and variable capital companies, the option of conducting fully virtual or hybrid general meetings. This followed the cessation of the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings) Orders.