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MAS to Increase Investigative and Supervisory Powers

MAS to Increase Investigative and Supervisory Powers

by Starling Insights

Starling Insights Editorial Board

Jan 16, 2024

Observations

The Monetary Authority of Singapore (MAS) may receive broader investigative powers through a new Bill introduced in Parliament earlier this month. The legislation aims to strengthen the regulator's evidence-gathering capabilities and improve coordination between agencies in the financial sector. 

The proposed bill would amend several existing laws governing MAS's activities. Those amendments focus on four key areas: enhancing investigative powers, clarifying reprimand powers, expanding abilities to issue directives to some firms that conduct unregulated business, and increasing supervisory powers.

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