- 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 FIs and activities with higher ML/TF risks.
The enforcement priorities in 2020/2021 include the following:
- pursue serious and complex cases of disclosure breaches;
- deepen capability to proactively detect potential mis-selling of financial products;
- continue to focus on FIs which lack rigorous systems and processes for combatting money laundering and countering terrorism financing;
- update enforcement-related powers to better detect, investigate and take action against misconduct; and
- enhance focus on senior management accountability for breaches by their FIs or subordinates.