MAS Archives - Page 2 of 5 - The Industry Spread

MAS Imposes Civil Penalty of $336,000 on Mr Tham Wai Mun Raphael for Insider Trading

June 6, 2019

The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $336,000 on Mr Tham Wai Mun Raphael for insider trading. He had sold shares in Auhua Clean Energy PLC (ACE), a company listed on the Alternative Investment Market of the London Stock Exchange, while in possession of non-public and price-sensitive information concerning the company.

MAS Does Not Engage in Currency Manipulation

June 3, 2019

Singapore, 29 May 2019…In response to media queries on the US Treasury Report on Macroeconomic and Foreign Exchange Policies (UST Report) released today, the Monetary Authority of Singapore (MAS) said that it does not engage in currency manipulation for export advantage.

MAS Transfers S$45 billion to the Government for Long-term Investment

May 10, 2019

The Monetary Authority of Singapore (MAS) said today that it would be transferring S$45 billion from the official foreign reserves (OFR) to the Government for long-term investment.  This amount is the excess over what MAS deems necessary to maintain confidence in Singapore’s exchange rate-centred monetary policy.  MAS, as the central bank of Singapore, manages the country’s OFR, which stood at S$404 billion as at April 2019.

World’s First Afro-Asia FinTech Festival to Focus on Sustainable Finance, Transforming Lives

May 10, 2019

The Central Bank of Kenya (CBK) and the Monetary Authority of Singapore (MAS) today announced the inaugural Afro-Asia FinTech Festival, to be held in Nairobi, Kenya, from 15 to 16 July 2019. Jointly organised by the two central banks, the Festival – the first of its kind globally – will provide a platform for connections, collaborations and exchange of ideas between Africa and Asia. It will also further boost the FinTech ecosystems in the two regions.

Update to E-Payments User Protection Guidelines

April 28, 2019

The Monetary Authority of Singapore (MAS) has updated the E-Payments User Protection Guidelines (“Guidelines”) to clarify that the Guidelines do not override customers’ instructions to their financial institutions on transaction notification thresholds for e-payments.

MAS Bans Three Individuals for Fraudulent and Dishonest Conduct

April 12, 2019

The Monetary Authority of Singapore (MAS) has issued prohibition orders (POs) against two former bank employees and a former insurance agent for fraudulent and dishonest conduct. The POs were issued against Ms Tang, Mr Nguyen and Mr Koh following their convictions in the State Courts of Singapore for offences involving fraud and dishonesty. The three court cases are not related. The ban against the three individuals took effect from 5 April 2019.