Early last month, the Monetary Authority of Singapore (MAS) issued a Consultation Paper, proposing to strengthen its investigative powers. The bill looks to empower MAS to enter premises without prior notice or a court warrant in connection with investigations.
Other proposals include: clarifying that MAS may reprimand a person for misconduct even after the person has left a financial institution or the financial industry; and introducing powers to enable MAS to impose requirements on certain financial institutions to manage risks arising from the conduct of unregulated businesses.
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