Notice 643 Transactions with Related Parties

Requirements for banks when engaging in transactions with their related parties.

Issued pursuant to: Section 55(1) of the Banking Act (Cap.19)

Applies to: Full Bank (Branch) , Full Bank (Locally Incorporated) , Wholesale Bank (Branch) , Wholesale Bank (Locally Incorporated)

View Notice Notice 643 Transactions with Related Parties (248.4 KB)

This notice applies to all banks. It sets out the definition, scope and general principle governing transactions with related parties, and the responsibilities of banks to maintain oversight and control over their related party transactions in order to mitigate the risk of abuse arising from conflicts of interest.

01 Jul 2021: MAS Notice 643 (Amendment) 2021 (285.9 KB) takes effect.
01 Jul 2021: MAS Notice 643 dated 12 Dec 2019 takes effect.
01 Oct 2020: MAS Notice 643 (Amendment) 2020 (294.9 KB) takes effect.
12 Dec 2019: MAS Notice 643 dated 12 Dec 2019 is issued.
12 Dec 2019: MAS Notice 643 dated 21 Nov 2016 (416.9 KB) is cancelled.
21 Nov 2018: MAS Notice 643 dated 21 Nov 2016 (416.9 KB) is issued.
21 Nov 2018: MAS Notice 643 dated 02 Apr 2013 (last revised on 30 June 2014) (159.2 KB) is cancelled.
30 Jun 2014: MAS Notice 643 (Amendment) 2014 (76.9 KB) takes effect.
02 Apr 2013: MAS Notice 643 issued on 02 Apr 2013 (107.4 KB) is issued.