Acts
Monetary Authority of Singapore Act 1970
Establishes the Monetary Authority of Singapore (MAS) and gives it the authority to regulate the financial services sector in Singapore.
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Monetary Authority of Singapore Act 1970
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.
Related to this Item
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NoticesLast Revised Date: 28 January 2022
Notice 1003 Submission of Statistics and Returns
Requirements for merchant banks submitting returns to MAS, including reporting forms, completion notes and submission timeframe.
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DirectivesLast Revised Date: 01 July 2021
Directive 21 General Penalty [Cancelled]
Sets out the financial penalty payable by a merchant bank for any non-compliance with MAS’ directions or conditions of approval.
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DirectivesLast Revised Date: 01 July 2021
Directive 13 Auditing [Cancelled]
Requirements for merchant banks on the annual appointment of auditors.
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DirectivesLast Revised Date: 01 July 2021
Directive 1 Minimum Capital Requirement [Cancelled]
Sets out the minimum paid-up capital and minimum capital funds of a merchant bank.
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DirectivesLast Revised Date: 01 July 2021
Directive 11 Inspection and Investigation of Merchant Banks [Cancelled]
Sets out MAS' inspection powers on all merchant banks.
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NoticesLast Revised Date: 29 June 2021
Notice 1011 Appointment of Chief Executives [Cancelled]
Requirements for all merchant banks on the appointment of chief executive and deputy chief executive.
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NoticesLast Revised Date: 29 June 2021
Notice 1013 Disclosure in Financial Statements
Covers disclosure requirements in relation to a merchant bank's financial statements.
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NoticesLast Revised Date: 29 June 2021
Notice 1002 Auditors' Reports and Additional Information to be Submitted with Annual Accounts
Requirements for all merchant banks to submit external auditors' reports and additional information, and annual financial statements.
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NoticesLast Revised Date: 29 June 2021
Notice 1005 Credit Files, Grading and Provisioning
Requirements for merchant banks on maintaining credit files, grading credit facilities and determining credit loss allowance.
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NoticesLast Revised Date: 29 June 2021
Notice 1007 Appointment of External Auditors
Requirements for all merchant banks on the annual appointment of auditors.
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NoticesLast Revised Date: 23 January 2013
Notice 1112 Reporting of Suspicious Activities & Incidents of Fraud
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.
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Subsidiary LegislationPublished Date: 01 January 2005
Monetary Authority of Singapore (Merchant Banks - Annual Fees) Notification 2005
Sets out the applicable annual fees payable by a merchant bank.