Financial Sector-wide Legislation
Financial Institutions (Miscellaneous Amendments) Bill
7 March 2024
The Financial Institutions (Miscellaneous Amendments) Bill 2024 was passed in Parliament in March 2024 to enhance and rationalise MAS’ investigative, reprimand, supervisory and inspection powers across various Acts under MAS’ purview. These amendments will allow MAS to regulate financial institutions in the capital markets sector more effectively, as well as strengthen its evidence-gathering powers and facilitate greater inter-agency coordination between MAS and the other law enforcement agencies, which will further strengthen Singapore’s position as a responsible and trusted international financial centre.- Second Reading Speech by Minister of State, Ministry of Culture, Community and Youth & Ministry of Trade and Industry, and Board Member of MAS, Mr Alvin Tan, on the Financial Institutions (Miscellaneous Amendments) Bill, delivered in Parliament on 7 March 2024
- MAS Explanatory Brief, published on 10 January 2024, on the Financial Institutions (Miscellaneous Amendments) Bill