Category Archives: Uncategorized

The consultation paper was issued in 2022 proposing to implement changes to the misconduct reporting requirements. A summary of the key responses is as follows and the revised requirements will come into effect on 1 January 2027. FIs are expected to have internal processes to identify root cause of misconduct, implement remedial actions, and addressContinue reading “MAS Response to Consultation Paper on Revised Notices on Misconduct Reporting Requirements – 30 December 2025”

The information paper sets out MAS’ supervisory expectations, good practices observed and areas for enhancement when assessing whether appointed representatives are fit and proper to carry out regulated activities. Some of the key supervisory expectations and good practices include having structured recruitment policies and processes approved by senior management, implementing risk mitigating measures (eg. enhancedContinue reading “MAS Information Paper – Thematic review of Financial Institutions’ recruitment and onboarding training of representatives (4 December 2025)”

The MAS proposes guidelines to enhance management of AI risks and to be applied in a proportionate manner by Financial Institutions (FI). The scope of AI includes AI based on machine learning, deep learning, reinforcement learning techniques, as well as Generative AI, AI agents and any newer AI technologies. FIs should institute basic policies forContinue reading “MAS Consultation Paper on Proposed Guidelines on Artificial Intelligence Risk Management for Financial Institutions (Nov 2025)”

The paper aims to raise FIs’ awareness by providing a comprehensive overview of the emerging threats and risks posed by deepfakes, their potential impact on the financial sector, and possible mitigation measures that FIs could implement to address these evolving risks. Deepfakes impacts FIs through different risk areas such as market risk, cyber risk, fraudContinue reading “MAS Information Paper on Cyber Risks Associated with Deepfakes (18 September 2025)”

This circular highlights key observations from the MAS thematic review of VCCs and their managers, and sets out supervisory expectations and good practices for VCC managers in their governance and management of VCCs. 🏛️ Key Regulatory Requirements VCCs and their managers are subject to the following key requirements specific to the governance and management: 🔍Continue reading “MAS Circular on GOVERNANCE AND MANAGEMENT OF VARIABLE CAPITAL COMPANIES (VCCs) – 26 June 2025”

The ACIP Legal Persons & Arrangements Working Group produced two best practice papers to share recommended good practices and illustrate through case studies on certain risk areas in relation to financial institutions’ (FIs) dealings with wealth management customers and establishing customers’ sources of wealth (SOW). A summary of the key highlights are provided below. For theContinue reading “Best Practices on Risks in Wealth Management & Source of Wealth Due Diligence (14 May 2025)”

Currently, there are exclusions from advertising requirements, as set out in FAR Regulation 22(7)(a) and 22(7)(c), and SF(LCB)R Regulation 46(7)(b) and 46(7)(d). MAS proposes the following: The above changes seek to align with proposed amendments in a separate Consultation Paper on Enhancing Safeguards for Proper Conduct of Digital Prospecting and Marketing Activities. For the fullContinue reading “MAS Consultation Paper on Proposed Revisions to Financial Advertisement Regulations: Removal of Existing Exclusions (6 May 2025)”

The proposed amendments will apply across the financial sector and variable capital companies (VCCs), and are expected to take effect from 30 June 2025. A summary of the key amendments are as follows: For the full details, please refer to the MAS website https://www.mas.gov.sg/publications/consultations/2025/consult-paper-on-aml-notice-and-guideline-amendments Disclaimer: The information, views or opinions expressed are provided for generalContinue reading “Consultation Paper on the Proposed Amendments to Anti-Money Laundering and Countering the Financing of Terrorism Notices (8 April 2025)”

This information paper sets out good disclosure practices that ESG Funds (authorised and recognised schemes) may adopt in their adherence with paragraph 11 to 14 of the Circular No. CFC 02/2022: Disclosure and Reporting Guidelines for Retail ESG Funds. The following is a summary of the good disclosure practices. For the full details, please referContinue reading “MAS Information Paper on Good Disclosure Practices for Retail ESG Funds”

Singapore takes a risk-based approach in fighting money laundering (ML), terrorism financing (TF), and proliferation financing (PF). By identifying and understanding risks, the authorities can prioritize efforts in high-risk areas. This approach includes monitoring risks through coordination among government agencies and collaboration with the private sector to stay updated on changing trends. The following riskContinue reading “MAS Publishes Money Laundering, Terrorism Financing, and Proliferation Financing Risk Assessments (30 October 2024)”