Consultation Paper on Proposed Amendments to Regulations, Notices and Guidelines Arising from the Banking (Amendment) Act 2020 and Other Changes
This consultation paper sets out the remaining amendments to Regulations, Notices and Guidelines for the rest of the Banking (Amendment) Act 2020 (BAA) that have not yet commenced.
In addition to the amendments arising from the BAA, MAS proposes to extend its composition powers by prescribing (a) the offences under section 47 and section 47 as applied by section 55ZI of the BA, in relation to the privacy of customer information; and (b) the offence under section 49 of the Trust Companies Act (TCA) in relation to the confidentiality of protected information, as compoundable offences under the BA and TCA respectively.
- Consultation Number:
- Start Date:
02 December 2020
- Closing Date:
15 January 2021
- MAS Response Date:
30 June 2021
The consultation response was published on 30 June 2021.