Notices
 Last Revised Date: 28 June 2021

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.

Amendment Notes

01 Jul 2021
MAS Notice 643 dated 12 Dec 2019 takes effect.

12 Dec 2019
MAS Notice 643 dated 12 Dec 2019 is issued.