SINGAPORE, Feb 11 (Bernama) -- The Monetary Authority of Singapore (MAS)
issued for consultation today, proposed legislative amendments to the
Securities and Futures Act (SFA), to effect reforms to the regulation of
over-the-counter (OTC) derivatives trading and the securities market.
In a statement, the central bank said this consultation follows the feedback MAS received on the reforms.
It said three years ago, MAS embarked on reforms to make the trading of OTC derivatives safer and more transparent.
To this end, the SFA was amended to cater for the mandatory reporting and central clearing of OTC derivatives trades as well as the regulation of OTC derivatives trade repositories and clearing facilities.
The proposed legislative amendments will complete the OTC derivatives reforms in Singapore.
MAS will extend its regulatory regime to OTC derivatives trading platforms and intermediaries, and introduce simplified, principles-based definitions of securities and derivatives.
While MAS has assessed that it is not necessary to mandate a trading regime for OTC derivatives for now, it will assume powers to implement a trading regime if one was deemed necessary in the future.
Read more at Click here / www.trade4x.net
In a statement, the central bank said this consultation follows the feedback MAS received on the reforms.
It said three years ago, MAS embarked on reforms to make the trading of OTC derivatives safer and more transparent.
To this end, the SFA was amended to cater for the mandatory reporting and central clearing of OTC derivatives trades as well as the regulation of OTC derivatives trade repositories and clearing facilities.
The proposed legislative amendments will complete the OTC derivatives reforms in Singapore.
MAS will extend its regulatory regime to OTC derivatives trading platforms and intermediaries, and introduce simplified, principles-based definitions of securities and derivatives.
While MAS has assessed that it is not necessary to mandate a trading regime for OTC derivatives for now, it will assume powers to implement a trading regime if one was deemed necessary in the future.
Read more at Click here / www.trade4x.net
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