Singapore harmonises risk-based regulation of financial firms

SINGAPORE – Singapore financial regulators said today they would integrate risk-based regulation of banks, insurance companies and investment firms under a new department from September 1.

The Monetary Authority of Singapore (MAS), Singapore’s central bank and chief financial market regulator, said a new prudential policy department would be responsible for formulating risk-based capital and other prudential policies across financial industries.

The move was part of several organisational changes and appointments announced by MAS today with the aim of more closely aligning the organisation’s resources and objectives.

MAS said the prudential policy department would help to

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