Sharpening Market Surveillance
MAS continually strengthens its market surveillance framework to keep pace with changing market developments and emerging risks. Our surveillance teams use open-source intelligence and screening tools to monitor online activity for potential market abuse signals. MAS has also enhanced its surveillance system to enable earlier identification and interdiction of suspicious activities.
Beyond routine surveillance, MAS conducts deep-dive reviews of specific risk scenarios to identify emerging or evolving modus operandi that may be less apparent through routine surveillance.
Effective surveillance requires close cooperation between MAS and market intermediaries. Brokerage firms have continued to strengthen their surveillance capabilities and adopt more advanced analytical tools, enhancing the resilience of Singapore’s market surveillance ecosystem. Alongside these efforts, MAS works closely with SGX RegCo to detect, curtail and investigate misconduct.
Partnering with Industry to Tackle Market Abuse Promptly
Early detection and swift intervention are central to MAS’ enforcement approach. Where potential misconduct emerges, MAS acts quickly to disrupt suspected market abuse and prevent further harm.
Brokerage firms are key partners, providing insights on clients and their trading activities, and working with MAS to impose trading restrictions or enhanced monitoring on clients where warranted.
In one case of suspected wash trading across accounts at multiple brokerages, MAS coordinated with the firms to quickly restrict the individual’s accounts, curtailing further suspected manipulation and protecting market integrity.
Continuous Advancements in Forensic Investigation Capabilities
As part of MAS’ efforts to address the growing volume and complexity of digital evidence in investigations, MAS plans to further enhance its forensic capabilities through the adoption of AI‑enabled tools within the review environment.
These capabilities will support the identification of key themes, relationships and evidential links across large datasets, enabling the analysis of information to be done more efficiently and at greater scale. This will allow Investigation Officers to focus resources on higher-value analytical work and investigative decision‑making, while maintaining appropriate human judgment, scrutiny and oversight throughout the process.