Types of Deposit-Taking Institutions
Find out about the different types of deposit-taking institutions and their permitted activities.
Deposit-taking institutions in Singapore operate as full banks, wholesale banks, merchant banks or finance companies. Find out about the regulations, updates and licensing for such institutions.
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MAS conducted thematic inspections on enterprise-wide risk assessment on money laundering and terrorism financing (EWRA) in 2020. This paper highlights inspection observations and MAS’ supervisory expectations of effective EWRA frameworks and processes that financial institutions should benchmark themselves against.
This consultation seeks views on the harmonised and expanded power to issue prohibition orders, the regulation of virtual asset service providers created in Singapore for anti-money laundering and countering of financing of terrorism purposes, the harmonised power to impose requirements on technology risk management, and the provision of statutory protection from liability to mediators, adjudicators and employees of an operator of an approved dispute resolution scheme.
Payment Blocking Order to financial institutions, issued pursuant to section 21(3) of the Remote Gambling Act 2014.
Sets out MAS’ supervisory expectations of sound practices where AML/CFT control functions are outsourced. The paper is based on inspections of capital markets intermediaries, but the takeaways are applicable to other financial institutions, with the appropriate calibrations.
Requirements for credit card and charge card licensees on setting up or relocating a place of business.