MAS scores, sets benchmark for others

Singapore

THE Monetary Authority of Singapore's (MAS) first-ever enforcement report lifts the veil on certain key aspects of how it polices the financial markets under its charge, and is a welcome indicator of the greater openness the market has long sought.

The report provides a rare glimpse into how MAS pursues suspected cases of regulatory breach - proffering never before published statistics on the time it takes for reviews and investigations into different types of cases, as well as key enforcement outcomes, ie. the actions it takes on proven cases of law-breaking, ranging from reprimands to fines to criminal convictions. It also outlines the types of misconduct MAS is continuing to investigate and its enforcement priorities in the near future.