MAS sets out enforcement outcomes and priorities in inaugural Enforcement Report

 The Monetary Authority of Singapore (MAS) published its inaugural Enforcement Report on 20th March 2019. The enforcement report outlines MAS’ enforcement priorities and provides greater accountability and transparency into the actions taken against breaches of MAS’ rules and regulations. The report will be published every 18 months.

Enforcement priorities in 2019/2020

To better protect consumers and safeguard public trust in our financial institutions, MAS will focus its enforcement efforts to strengthen:

  • Timely and adequate disclosure of corporate information by listed companies;
  • Business conduct of financial advisers and their representatives;
  • Financial institutions’ compliance with Anti-Money Laundering/Combatting the Financing of Terrorism requirements;
  • Brokerage houses’ internal controls to detect and deter market abuse; and
  • Surveillance and investigations into suspected insider trading

Enforcement Report focus

The report also sets out the enforcement actions taken by MAS for the reporting period of July 2017 to December 2018. It provides information on the time taken to complete investigations and key enforcement outcomes during this period. In addition, the report outlines the types of misconduct MAS is currently investigating and the key initiatives MAS has undertaken to uphold Singapore’s reputation as a clean and trusted financial centre.

Please click the link for the report : Infographic Enforcement Report

Source :  MAS News and Publications

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