Singapore moves to expand MAS’s supervisory powers
Central bank would oversee currently unregulated activities and have greater investigative remit
Singapore’s government has introduced a draft law considerably expanding the central bank’s investigative and supervisory powers.
It introduced the law proposing new powers for the Monetary Authority of Singapore (MAS) on January 10, following a public consultation in 2021. The law would give the MAS powers to issue written directions to holders of capital markets services licences (CMSL) who were conducting currently un-regulated activities.
The governing People’s Action Party holds 79 out of
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