Singapore, like Hong Kong, is continuing to benefit from the uncertainty and instability elsewhere in the world, while at the same time struggling to cope with such side-effects of this success as inflation, currency appreciation and a shortage of affordable housing. Helen Burggraf reports.
Singapore, like Hong Kong, is continuing to benefit from the uncertainty and instability elsewhere in the financial services world, while at the same time struggling to cope with such side-effects of this success as inflation, currency appreciation and a shortage of affordable housing. Helen Burggraf reports.
The Singaporean government has passed two Bills aimed at strengthening investor protection and increasing the Monetary Authority of Singapore’s powers of enforcement, as it seeks to emulate regulators in Australia and the UK.
Two bills aimed at protecting investors were introduced into the Singapore Parliament today, as the first part of a two-phase review of Singapore’s existing Securities and Futures and Financial Advisers acts.
Professional Investment Advisory Services has been reprimanded by the Monetary Authority of Singapore for failing to ensure that “two of its representatives held the requisite licence under the Financial Advisers Act to carry out the financial advisory activities of advising others”.
The Monetary Authority of Singapore is planning to make some tax crimes money laundering “predicate offences” under proposals announced today.
A large general insurer in Singapore has been fined by the local regulatory authority for allowing unqualified staff to sell insurance products to the public.
The Monetary Authority of Singapore is seeking greater powers over insurance companies based in the country in its latest consultation document on the Insurance Amendment Bill.
Australian fund manager LM Investment Management Ltd (LM) has obtained registration with the Monetary Authority of Singapore (MAS) to give Singapore accredited investors access to Australia’s property markets.
An ad-hoc alliance of about 15,000 financial advisers and managers in Singapore has formed to defend the commission model for remunerating providers of financial services and advice, a Singapore newspaper is reporting exclusively today.
Aviva Asia is to acquire around 81% of the holding company which owns Professional Investment Advisory Services Pty (PIAS), one of the largest financial advisory firms in Asia.
Singapores City watchdog is due to implement an enhanced regulatory regime for fund management companies tomorrow, which will include increased capital requirements and stricter business conduct rules.
