Monetary Authority of Singapore (MAS)

Singapore bans former HSBC, UOB bankers on fraud, dishonesty
SINGAPORE (April 11): Singapore has meted out lengthy bans to convicted former HSBC Holdings Plc and United Overseas Bank Ltd. bankers for fraud and dishonest conduct. Emeline Tang, a former HSBC employee, was banned from providing any capital markets and financial advisory services for 20 years, the Monetary Authority of Singapore said in a statement on Wednesday. Former UOB employee Nguyen ...
DBS complied with rules as issue manager of Hyflux perps in 2016: MAS
SINGAPORE (Apr 8): The Monetary Authority of Singapore says that its supervisory reviews to date have not uncovered any impropriety on the part of DBS when performing its roles as both issue manager and distributor of Hyflux perpetual securities in 2016. See: Hyflux rescue bid by SMI falls through amid conflicting statements The MAS spokesperson adds that DBS, in its capacity as the issue ...
MAS seen to maintain monetary policy stance as growth slows sharply: Maybank
SINGAPORE (Apr 3): Maybank Kim Eng expects the Monetary Authority of Singapore to maintain its current monetary policy stance at the April meeting as growth slows sharply and core inflation eases. This comes after two straight tightening moves in Apr and Oct last year, when the MAS steepened the S$NEER appreciation bias slightly. Dampening growth outlook is a stronger Singapore dollar; ...
Singapore authorities to continue investigation of key Midas personnel amid winding-up woes
SINGAPORE (April 2): Singapore’s authorities say they will continue their investigation into Midas Holdings’ former directors and officers in the event that the insolvent company winds up. This comes amid a year-long investigation into Midas Holdings as the company’s former directors and officers by the Commercial Affairs Department (CAD) and Monetary Authority of Singapore ...
Hunting for the truth redux: Our coverage of the penny stock saga attracted threats and lawsuits
SINGAPORE (Mar 22): If there’s one story published by The Edge Singapore that I will never forget, it will probably be “Hunting for the truth” (Issue 641, Sept 1, 2014). The piece was intended to mark the first anniversary of the steep rise and sudden collapse of shares in Asiasons Capital, Blumont Group and LionGold Corp, an event that battered confidence in the local stock market and ...
Investigations on 1MDB still ongoing in Singapore: MAS
(Mar 20): There are ongoing investigations into other financial institutions and individuals suspected of being involved in the 1Malaysia Development Bhd (1MDB)-related offences, according to the Monetary Authority of Singapore (MAS). In its inaugural Enforcement Report released on Wednesday, MAS said the 1MDB review is its most comprehensive anti-money laundering and countering the financing ...
MAS reports $16.8 mil in fines imposed over past 18 months in very first enforcement report
SINGAPORE (Mar 20): In the 18 months to Dec 2018, the Monetary Authority of Singapore (MAS) secured one criminal conviction, issued 19 prohibition orders and imposed fines totalling $16.8 million. This according to the very first Enforcement Report published by Singapore's financial regulator. During the period under review, MAS also issued 37 reprimands, 31 letters of advice, 223 warnings ...
MAS Menon says blockchain 'not solution for every problem' but potential should be unlocked for 'deep economic or social impact'
SINGAPORE (Mar 7): Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), says the central bank is committed to partnering global financial institutions and companies to realise the potential of blockchain technology in Singapore. “My plea to you is pick a viable use-case [for blockchain technology] with deep economic or social impact and work towards bringing it to ...
Singapore central bank chief says policy stimulus may not be necessary
SINGAPORE (Mar 4): Singapore’s monetary policy stance remains appropriate for current conditions and there is no need for policy stimulus if the economy performs as expected, central bank managing director Ravi Menon said. Growth will probably come in at the midpoint of the 1.5% to 3.5% forecast range for this year, or slightly lower, bringing “the economy back to its potential,” Menon ...
What is the future of the Singapore stock market?
Amid the slow pace of IPOs, the lure of private-equity funding, and a string of corporate scandals, it might seem like the local stock market has seen better days. Our distinguished roundtable panellists do not entirely share that perspective, but they do see some big challenges ahead. SINGAPORE (Nov 26): The health and vibrancy of the local stock market has always been close to the hearts of ...