Clifford Chance
MAS consults on proposed enhancements to the customer money and assets protection regime
12 August 2016
The Monetary Authority of Singapore (MAS) has published the Consultation Paper on Enhancements to Regulatory Requirements on Protection of Customer's Moneys and Assets.
MAS has undertaken a review of the requirements governing the protection of customer's moneys and assets under the Securities and Futures Act (SFA) and its related subsidiary legislation, and proposes to enhance the regulatory regime governing the safeguarding, identification and use of customer’s moneys and assets, and those relating to disclosures to customers.
The enhancements proposed by MAS take into account the international standards promulgated by the International Organization of Securities Commission and Financial Stability Board.
The final proposals will be effected primarily through amendments to the Securities and Futures (Licensing and Conduct of Business) Regulations (SF(LCB)R), which MAS will separately consult on after considering feedback from this consultation paper.
