APAC Monthly Newsletter, November 2021

      MAS Regulatory Updates – Highlights

       

      30 November 2021 – Compliance Toolkit for Approvals, Notifications and Other Regulatory Submissions to MAS for REIT Managers

      This Compliance Toolkit aims to guide and facilitate REIT managers’ compliance with the various MAS approval and reporting requirements and timelines.

      To view the Compliance Toolkit document, please click here.

       

      30 November 2021 – Compliance Toolkit for Approvals, Notifications and Other Regulatory Submissions to MAS for Fund Managers

      This Compliance Toolkit aims to guide and facilitate licensed fund management companies, registered fund management companies, venture capital fund managers’ compliance with the various MAS approval and reporting requirements and timelines.

      To view the Compliance Toolkit document, please click here.

       

      29 November 2021 – FAQs on the Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013

      Implementation of the reporting obligations for requirements set out under the Securities And Futures (Reporting Of Derivatives Contracts) Regulations for OTC Derivatives.

      To view the updated FAQ document, please click here.

       

      18 November 2021 – Residential Mortgage Pricing and Disclosure Practices – Observations and Supervisory Expectations from Thematic Inspections

      MAS conducted thematic inspections on the residential mortgage pricing and disclosure practices of large mortgage lenders over 2020 and early 2021. The paper highlights good practices observed from the inspections, and sets out MAS’ supervisory expectations in the areas of (i) transparency; (ii) consideration of customer’s interests; and (iii) accountability and product governance over the mortgage lending business.

      To view the Thematic Inspection document, please click here.

       

      12 November 2021 – Form 22A – Notice of Commencement of Business as a Registered Fund Management Company

      Form for entities to apply to be a registered fund management company. Entities that intend to apply for a capital markets services licence to conduct fund management (including as a venture capital fund manager) should submit Form 1A or 1V instead.

      To view the updated Form 22A, please click here.

       

      09 November 2021 – ID 18/21 Issuance of Revisions to the CG Guidelines

      Informs locally incorporated insurers on the issuance of the revisions to the Guidelines on corporate governance for designated financial holding companies, banks, direct insurers, reinsurers, and captive insurers which are incorporated in Singapore (“CG Guidelines”), and MAS’ response to the feedback received following the consultation on the CG Guidelines.

      To view the updated guidelines, please click here.

       

      09 November 2021 – Consultation Paper on Revisions to the Guidelines on Corporate Governance

      This consultation paper sets out MAS’ proposed revisions to the Guidelines on Corporate Governance for Designated Financial Holding Companies, Banks, Direct Insurers, Reinsurers and Captive Insurers which are incorporated in Singapore. MAS is proposing these revisions taking into account international standards and industry good practices.

      To view the consultation paper, please click here.

       

      09 November 2021 – Guidelines on Corporate Governance

      Guidelines on corporate governance for financial institutions incorporated in Singapore.

      To view the updates to the Guidelines, please click here.

       

      09 November 2021 – Form 24A – Notice of Cessation of Business as a Registered Fund Management Company

      Form for registered fund management companies to notify MAS prior to their cessation of business in fund management.

      To view the Form 24A, please click here.

       

      09 November 2021 – Form 23A – Notice of Change of Particulars for a Registered Fund Management Company or a Venture Capital Fund Manager

      Form for registered fund management companies and venture capital fund managers to notify MAS of changes to their particulars and particulars of their directors, representatives, relevant professionals or shareholders. This form must be submitted within 14 days after the date of the change.

      To view the updated From 23A, please click here.

       

      08 November 2021 – Notice 502 Minimum Standards and Continuing Professional Development for Insurance Brokers and their Broking Staff

      Requirements and best practice standards on continuing professional development for insurance brokers and their broking staff.

      To view the updates to Notice 502, please click here.

       

      05 November 2021 – Consultation Paper on Proposed Changes to Notice 122 on Assets and Liabilities Exposures for Insurers and its Implementation

      This consultation paper sets out MAS’ proposed changes to the Notice 122 data collection, as well as the implementation timelines/plans.

      To view the updated consultation paper, please click here.

       

      03 November 2021 – Consultation Paper on Proposed Changes to Complex Products Regime

      This consultation seeks views on proposals to enhance and update the complex products regime.

      To view the consultation paper, please click here.

       

      GET IN TOUCH

       

      Argus specialises in financial and compliance matters such as VCC Singapore, regulatory compliance, insurance returns, AML/CFT controls, AML/CFT training for FI and provides objective insights, subject expertise and a simple approach to all your financial and compliance matters. Our diversified client base encompasses start-ups, right through to mature businesses. We partner with our clients to serve all their financial and compliance needs from the initial phase to ongoing support, training, audit, risk management and governance.

      Follow us on LinkedIn for more updates on insurance regulations.

      Previous post Next post
      Share

      More like this

      Strengthening AML/CFT controls of Digital Payment Token (DPT) providers

      The Monetary Authority of Singapore (MAS) recently released an infographic setting out recent international developments and MAS’ supervisory expectations on…
      Read more

      Payment Services Act updates

      As Singapore's new Payment Services Act came into effect in January 2020, Argus Global hosted a timely event to discuss…
      Read more

      CIMA Guidance on The Appointment, Duties, and Responsibilities of Anti-Money Laundering Officers

      The Cayman Islands Monetary Authority recently issued a reminder regarding the duties and responsibilities of Anti-Money Laundering Compliance Officers (“AMLCOs”),…
      Read more

      Cayman Islands Monetary Authority Guidance on The Appointment, Duties, and Responsibilities of Anti-Money Laundering Officers

      The Cayman Islands Monetary Authority recently issued a reminder regarding the duties and responsibilities of Anti-Money Laundering Compliance Officers (“AMLCOs”),…
      Read more

      APAC Monthly Newsletter, October 2021

        Articles & Events Summary   Wishing all our clients and friends good health and prosperity. Happy Diwali from our…
      Read more

      Recent Updates to the List of FATF-Identified Jurisdictions

      November 4th | 2021FATF updated their Jurisdictions under Increased Monitoring on October 21st, 2021. The list covers high-risk jurisdictions with…
      Read more