MAS to supervise exchange members

Singapore

THE Monetary Authority of Singapore (MAS) will take over a portion of the supervision of brokers from exchanges and provide an additional layer of market surveillance as it adapts to having more than one exchange in Singapore, MAS deputy managing director Ong Chong Tee said on Thursday.

The new framework takes effect this year.

The change that will affect the exchanges the most is in terms of how exchange members are supervised.

Currently, the Singapore Exchange's (SGX) supervision of its members includes checking on statutory requirements such as capital and reserve amounts, business conduct, anti-money laundering…