Regulatory Compliance Updates February 2023 – APAC Region
Have a question about any of the below updates? Get in touch with our APAC Compliance solutions team today.
23 February 2023 – Notice SFA 04-N21 on Business Conduct Requirements for Corporate Finance Advisers
This outlines the requirements for corporate finance advisers in relation to general business conduct and due diligence work.
To view the Notice, please click here.
22 February 2023 – ID 03/23 – Notification of Data Breaches to the Monetary Authority of Singapore
This sets out the expectations for licensed insurers regarding notification of data breaches to MAS.
To view the Circular, please click here.
17 February – Insurance (Prescribed Interests under Section 34(6)) Regulations 2023
Regulations will exclude investments, acquired or held, directly or indirectly, using any policy asset of the Participating Fund and the unitised portion of the Investment-linked Fund, from the major stake approval requirements in the Insurance Act.
To view the Regulations, please click here.
17 February 2023 – ID 02/23 Issuance of Insurance (Prescribed Interests under Section 34(6)) Regulations 2023
Informs insurers of the issuance of the Insurance (Prescribed Interests under Section 34(6)) Regulations 2023.
To view the Circular, please click here.
7 February 2023 – Notice on Supervision of Market Participants (SFA 02-N02)
This outlines the requirements for supervision of market participants by Recognised Market Operators.
To view the Notice, please click here.
2 February 2023 – Compliance Toolkit for Approvals, Notifications and Other Regulatory Submissions to MAS for Wholesale Banks and Full Banks
This Compliance Toolkit aims to guide and facilitate wholesale banks’ and full banks’ understanding and compliance with the various MAS approval, notification and reporting requirements and timelines.
To view the Toolkit, please click here.