Clifford Chance

MAS consults on proposed changes to financial regulatory framework

13 February 2015

The Securities and Futures Act (SFA) was amended in 2012 to, amongst other things, implement over-the-counter (OTC) derivatives reforms in relation to reporting and clearing of OTC derivatives transactions and the regulation of OTC derivatives trade repositories and clearing facilities.

Further to the 2012 amendments and as a continuation of the OTC derivatives reform agenda, the MAS is now proposing amendments to strengthen its enforcement powers with regard to OTC derivatives markets, trading and licensing of OTC derivatives intermediaries and transfer the regulatory oversight of commodity derivatives from the Commodity Trading Act (CTA) to the SFA.

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