Last Revised Date: 27 April 2022
MAS’ enforcement approach has three aims:
- Early detection of misconduct and breaches of laws.
- Effective deterrence.
- Shaping business and market conduct.
How MAS protects investors and upholds market integrity:
|Counter potential market through broker engagement||
Brokers are key partners in detecting and addressing any suspicious trading activities as they can take action to impose restrictions on customers, suspend accounts and off-board customers.
Objectives of broker engagement:
|Using Augmented Intelligence to detect market manipulation||
|Detect financial advisory misconduct proactively||Large data sets are combined to identify potential misconduct cases using data analytics. This enables MAS to detect and investigate wrongdoings early, so that timely enforcement action can be taken against errant representatives.|
|Leverage data analytics to enhance supervisory effectiveness||
MAS uses data analytics to sharpen and intensify AML/CFT supervision over financial institutions (FIs) and activities with higher ML/TF risks.
The enforcement priorities in 2022/2023 include the following:
- enhancing effectiveness in pursuing corporate disclosure breaches, including through collaboration with key regulatory and enforcement partners;
- stepping up focus on corporate finance advisory firms and fund management companies that fail to comply with business conduct requirements;
- pursuing strong enforcement actions against FIs for serious lapses in AML/CFT systems and controls;
- studying options for enhancing investors’ recourse for losses due to securities market misconduct; and
- strengthening focus on holding senior managers accountable for breaches by their FIs or subordinates.