Notice 1003 Submission of Statistics and Returns
Requirements for merchant banks submitting returns to MAS, including reporting forms, completion notes and submission timeframe.
In 1970, Parliament passed the Monetary Authority of Singapore Act, leading to the formation of MAS on 1 January 1971.
The MAS Act gives MAS the authority to regulate the financial services sector in Singapore. MAS has been given powers to act as a banker to and financial agent of the Government. It has also been entrusted to promote monetary stability, and credit and exchange policies conducive to the growth of the economy.
Requirements for merchant banks submitting returns to MAS, including reporting forms, completion notes and submission timeframe.
Sets out the minimum paid-up capital and minimum capital funds of a merchant bank.
Sets out MAS' inspection powers on all merchant banks.
Sets out the financial penalty payable by a merchant bank for any non-compliance with MAS’ directions or conditions of approval.
Requirements for merchant banks on the annual appointment of auditors.
Requirements for all merchant banks on the appointment of chief executive and deputy chief executive.
Requirements for merchant banks on maintaining credit files, grading credit facilities and determining credit loss allowance.
Requirements for all merchant banks on the annual appointment of auditors.
Covers disclosure requirements in relation to a merchant bank's financial statements.
Requirements for all merchant banks to submit external auditors' reports and additional information, and annual financial statements.
Requirements for all financial institutions, excluding money brokers, approved under section 28 of the MAS Act on the reporting of suspicious activities and incidents of fraud.
Sets out the applicable annual fees payable by a merchant bank.