Consumer Price Developments in April 2026
This April 2026 report contains an update of the latest consumer price developments in Singapore, prepared by MAS and the Ministry of Trade and Industry.
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Singapore Regulatory Updates
Singapore's financial sector is regulated by MAS.
Regulators: MAS
Opening Remarks by Mr Chia Der Jiun, Managing Director, Monetary Authority of Singapore at the UBS Asian Investment Conference, Singapore Wealth Edition, on 25 May 2026
At the UBS Investment Conference, Singapore Wealth Edition, Mr Chia Der Jiun, Managing Director of the Monetary Authority of Singapore, share his perspectives on navigating the latest macro-economic outlook amid an evolving geopolitical landscape.
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BankWealth ManagerAsset Manager
Welcome Remarks by Mr Edward S. Robinson, Deputy Managing Director (Economic Policy) & Chief Economist, Monetary Authority of Singapore, and Member of the ABFER Council at the 13th Asian Monetary Policy Forum on 22 May 2026
At the 13th Asian Monetary Policy Forum, Mr Edward S. Robinson, Deputy Managing Director (Economic Policy) & Chief Economist, MAS, opened the Forum and outlined how policymakers are facing large interconnected shocks from tariffs, geopolitics, energy, and technological change. Central banks must protect their credibility through technical competence and impartiality in this challenging environment.
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All Firms
13th Asian Monetary Policy Forum to Discuss Challenges Facing the Global Economy and the International Monetary System
Singapore, 21 May 2026… The 13th Asian Monetary Policy Forum (AMPF), organised by the Asian Bureau of Finance and Economics Research (ABFER), the National University of Singapore (NUS) Business School, and the Monetary Authority of Singapore (MAS), will take place in Singapore today and tomorrow. The AMPF brings together leading academics and policymakers to examine key economic and financial issues in Asia and the world.
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All Firms
MAS Revokes the Major Payment Institution Licence of Bsquared Technology Pte Ltd
MAS has revoked the Major Payment Institution Licence of Bsquared Technology Pte Ltd (BSQ) with effect from 14 May 2026. BSQ is no longer permitted to provide digital payment token services in Singapore under the Payment Services Act 2019 (PS Act) from the same date.
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Payment ProviderFintech
Two Individuals Convicted for Offences under the Securities and Futures Act
Singapore, 20 May 2026 … In two separate cases, Mr Tan Chun Yong (Mr Tan) and Mr Xie Jianfeng (Mr Xie) were convicted and sentenced on 19 May 2026 to 10 weeks’ imprisonment , and to a fine of $200,000 respectively, for trading offences under the Securities and Futures Act (SFA).
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Broker DealerAsset Manager
"Financing Asia’s Transition - From Risk to Readiness: Preparing for a Climate-Resilient Future" - Opening Address by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of the Monetary Authority of Singapore, at the Financing Asia’s Transition Conference on 20 May 2026
Opening Address by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of the Monetary Authority of Singapore, at the Financing Asia’s Transition Conference on 20 May 2026.
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BankAsset ManagerInsurance
Keynote Speech by Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of the Monetary Authority of Singapore, at the Institute of Banking and Finance (IBF) Financial Industry Fiesta 2026 on 19 May 2026
At the IBF Financial Industry Fiesta 2026, Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman, MAS announced the launch of the Young Talent Programme for AI in Finance, which aims to equip students with both applied AI and financial sector skills that are in demand.
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BankAll Firms
MAS Concludes Consultation on Enhancements to Product Highlights Sheets and Streamlined Framework for Complex Products
Singapore, 15 May 2026…The Monetary Authority of Singapore (MAS) today released its response to the feedback on proposals to enhance the requirements for Product Highlights Sheets (PHS) and streamline the distribution safeguards for complex products.
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Changes to MAS Board of Directors
MAS today announced the the appointment of Mr Ong Pang Thye to its Board of Directors. MAS also announced the re-appointment of four existing Directors, including its Chairman, Mr Gan Kim Yong and its Managing Director, Mr Chia Der Jiun.
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Written reply to Parliamentary Question on updating insurance coverage to include medical advances
Written reply to Parliamentary Question on updating insurance coverage to include medical advances
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Insurance
Oral reply to Parliamentary Question on the effects of Singapore dollar strengthening and exchange rate stability
Oral reply to Parliamentary Question on the effects of Singapore dollar strengthening and exchange rate stability
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All Firms
“Securities and Futures (Amendment) Bill” – Second Reading Speech by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of MAS, on behalf of the Prime Minister and Minister for Finance, on 7 May 2026
Second Reading Speech by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of MAS, on behalf of the Prime Minister and Minister for Finance, on 7 May 2026
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Written reply to Parliamentary Question on accuracy of greenhouse gas emissions disclosures by listed companies
Written reply to Parliamentary Question on accuracy of greenhouse gas emissions disclosures by listed companies
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All Firms
Written reply to Parliamentary Question on Code of Corporate Governance and SGX Listing Rules on remuneration committees and disclosures
Written reply to Parliamentary Question on Code of Corporate Governance and SGX Listing Rules on remuneration committees and disclosures
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All Firms
Singapore has a robust framework for combatting financial crime according to international body
The Financial Action Task Force published a peer evaluation report of Singapore today, which strongly affirmed that Singapore has a robust and effective framework and process to counter money-laundering, terrorism financing and proliferation financing.
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All Firms
MAS Collaborates with Banking Industry to Harness Artificial Intelligence in the Fight Against Financial Crime
MAS is conducting a Proof-of-Value (POV) to explore artificial intelligence and machine learning techniques for pre-emptive scam detection.
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Bank
Joint Statement of the 29th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting
The 29th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting took place on 3 May 2026 in Samarkand, Uzbekistan.
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Bank
Enhancements to MAS’ Regulatory Framework To Facilitate Dual Listings on the Singapore Exchange
Singapore, 30 April 2026… The Monetary Authority of Singapore (MAS) today issued its response to the public consultation on proposed amendments to the Securities and Futures Act 2001 (SFA) to facilitate dual listing arrangements on the Singapore Exchange (SGX). The proposed regulatory framework supports the implementation of the Global Listing Board (GLB), a partnership by the SGX and Nasdaq, and facilitates future similar collaborations.
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All Firms
Consumer Price Developments in March 2026
This March 2026 report contains an update of the latest consumer price developments in Singapore, prepared by MAS and the Ministry of Trade and Industry.
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All Firms
Operational Test Issuance of Cash Management Treasury Bills on 23 April 2026
Operational Test Issuance of Cash Management Treasury Bills on 23 April 2026
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All Firms
MAS Monetary Policy Statement - April 2026
Read the Monetary Policy Statement for April 2026.
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BankWealth ManagerAsset Manager
Joint Statement of the Thirteenth ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (13th AFMGM)
The 13th AFMGM was convened under the co-chairmanship of H.E. Frederick D. Go, Secretary of the Department of Finance of the Philippines, and H.E. Eli M. Remolona, Jr., Governor of the Bangko Sentral ng Pilipinas.
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BankFintechPayment Provider
Convictions and Sentences Upheld for Masterminds Behind Singapore’s Largest Stock Market Manipulation
9 April 2026… On 18 March 2026, the Court of Appeal (CA) upheld the sentences of 36 and 20 years’ imprisonment meted out to Mr Soh Chee Wen (also known as John Soh) and Ms Quah Su-Ling respectively for orchestrating an elaborate scheme to manipulate the shares of Blumont Group Ltd, Asiasons Capital Ltd and LionGold Corp Ltd, the largest market manipulation case in Singapore’s history. In October 2025, the CA had dismissed of their appeals against their convictions.
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BankBroker Dealer
Written reply to Parliamentary Question on Variable Capital Companies (VCCs)
Written reply to Parliamentary Question on Variable Capital Companies (VCCs)
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Asset ManagerBankWealth Manager
Written reply to Parliamentary Question on Household Liabilities and Household Assets
Written reply to Parliamentary Question on Household Liabilities and Household Assets
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BankFintech
Written reply to Parliamentary Question on impact of rising interest rates and mortgage repayments for homebuyers
Written reply to Parliamentary Question on impact of rising interest rates and mortgage repayments for homebuyers
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Bank
Oral reply to Parliamentary Questions on safeguards for GIRO transactions
Oral reply to Parliamentary Questions on safeguards for GIRO transactions
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BankFintechPayment Provider
Written reply to Parliamentary Question on findings about DBS and POSB digital banking services disruption
Written reply to Parliamentary Question on findings about DBS and POSB digital banking services disruption
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Bank
Explanatory Brief: The Securities and Futures (Amendment) Bill 2026
The explanatory brief for the Securities and Futures (Amendment) Bill 2026 provides the background and key amendments of the Bill.
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Broker DealerAsset ManagerBank
Written reply to Parliamentary Question on exposure of Singapore-domiciled financial institutions to US private credit
Written reply to Parliamentary Question on exposure of Singapore-domiciled financial institutions to US private credit
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BankAsset ManagerWealth Manager
Securities Industry Council (“SIC” or the "Council") Public Statement on PSC Corporation Ltd.
Public statement by the SIC on PSC Corporation Ltd.
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BankBroker DealerWealth Manager
Written reply to Parliamentary Question on pre-emptive adjustments to monetary policy to curb energy cost-driven inflation
Written reply to Parliamentary Question on pre-emptive adjustments to monetary policy to curb energy cost-driven inflation
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BankWealth ManagerAll Firms
Written reply to Parliamentary Question on timeline for making cash acceptance mandatory
Written reply to Parliamentary Question on timeline for making cash acceptance mandatory
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BankFintechPayment Provider
Key Enforcement Actions Taken by MAS in Q1 2026
The table below provides an overview of the key public enforcement actions taken by the Monetary Authority of Singapore (“MAS”) from January to March 2026.
AI Analysis
This MAS publication summarizes key public enforcement actions in Q1 2026, focusing on prohibition orders (POs) against individuals for investor fraud and money laundering, plus a joint operation against a licensed firm for AML failures and related offences. It matters as it underscores MAS's aggressive enforcement on financial crime, individual accountability, and firm controls, signaling heightened scrutiny to protect Singapore's financial centre integrity.[MAS publication]
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Asset ManagerWealth ManagerAll Firms
Delivering on the Insurer’s Promise - Keynote speech by Mr Marcus Lim, Assistant Managing Director, Monetary Authority of Singapore, at the Life Insurance Association, Singapore (LIA) Annual Luncheon on 30 March 2026
At the Life Insurance Association, Singapore (LIA) Annual Luncheon on 30 March 2026, Mr Marcus Lim, Assistant Managing Director, Monetary Authority of Singapore, delivered a keynote speech highlighting three key roles played by insurers.
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Insurance
Singapore Sets out Key Focus Areas to Develop Singapore as a Gold Trading Centre
MAS and the Singapore Bullion Market Association (SBMA) set out key focus areas to strengthen Singapore’s position as a trusted gold trading centre serving the Asia-Pacific region. This will meet the growing interest among investors to vault and trade gold in Singapore. The key focus areas were developed by a Gold Market Development Working Group that MAS and SBMA established in January 2026, building on detailed discussions and studies with industry participants in 2025.
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BankWealth ManagerFamily Office
Consumer Price Developments in February 2026
This February 2026 report contains an update of the latest consumer price developments in Singapore, prepared by MAS and the Ministry of Trade and Industry.
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BankWealth ManagerAsset Manager
MAS Partners Industry to Develop AI Risk Management Toolkit for the Financial Sector
MAS announced the successful conclusion of phase two of Project MindForge, which culminates in the publication of an Artificial Intelligence (AI) Risk Management Toolkit for the financial services sector.
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BankFintechAsset Manager
MAS Issues Prohibition Orders against former Relationship Managers, Mr Wang Qiming and Mr Liu Kai
Singapore, 17 March 2026 … The Monetary Authority of Singapore (MAS) has issued Prohibition Orders (POs) under the Financial Services and Markets Act 2022 (FSMA) against Mr Wang Qiming and Mr Liu Kai, former relationship managers, who were convicted of charges connected to the major money laundering case of August 2023. Given the gravity of their misconduct, MAS has issued a 16-year PO against Mr Wang Qiming and a 7-year PO against Mr Liu Kai.
AI Analysis
The Monetary Authority of Singapore (MAS) issued Prohibition Orders (POs) on 17 March 2026 under the Financial Services and Markets Act 2022 (FSMA) against former relationship managers Wang Qiming (16-year PO) and Liu Kai (7-year PO) for convictions tied to Singapore's S$3 billion money laundering scandal of August 2023. This enforcement action underscores MAS's rigorous application of fit and proper criteria, barring them from regulated activities due to forgery, money laundering, and related offences. It matters for compliance professionals as it signals heightened scrutiny on individual accountability in AML failures within wealth management.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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BankWealth ManagerAll Firms
ID 05/26 Issuance of Revised Notice 133 and Notice FHC-N133
Informs insurers on the amendments of Notice 133 and Notice FHC-N133 to include the proposed introduction of equity counter-cyclical adjustment (CCA), and the capital treatment for structured products and infrastructure investments, amongst others.
AI Analysis
MAS has issued revised Notice 133 and Notice FHC-N133 effective immediately (16 March 2026), introducing **equity counter-cyclical adjustment (CCA)** and new capital treatment rules for **structured products and infrastructure investments**. This represents a material enhancement to Singapore's risk-based capital (RBC 2) framework for all licensed insurers and designated financial holding companies with insurance operations, requiring immediate compliance assessment and system updates.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
MAS-ESS Essay Competition 2026
Singapore, 9 March 2026…The Monetary Authority of Singapore (MAS) and the Economic Society of Singapore (ESS) today launched the MAS-ESS Essay Competition 2026. The theme for this year’s competition is “Singapore’s AI-Driven Economic Future: How can artificial intelligence reshape our industries, workforce, and competitive advantage while ensuring inclusive growth and managing disruption?”.
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BankWealth ManagerFintech
Opening Remarks by Mr Alvin Tan, Minister of State, Ministry of National Development and Ministry of Trade and Industry and Board Member, Monetary Authority of Singapore at the Opening of Nasdaq’s New Office in Singapore on 9 March 2026
At the opening of Nasdaq’s new office in Singapore, Mr Alvin Tan, Minister of State, Ministry of National Development & Ministry of Trade and Industry, and Board Member of MAS, highlighted the Global Listing Board as a "digital bridge" connecting Asian and US markets, and emphasised Singapore's broader efforts to strengthen its startup ecosystem through various initiatives.
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Asset ManagerBroker DealerBank
Licensed Fund Management Company And Its Officers Investigated For Suspected Money Laundering And Suspected Failure To Comply With Obligations As A Licensed Capital Markets Services Licence Holder
The Police and MAS jointly conducted enforcement operations against Capital Asia Investments Pte Ltd and its directors for suspected money laundering offences under Section 54 of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992, and suspected failure to comply with various obligations as a licensed capital markets services licence holder under the Financial Services and Markets Act 2022.
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Asset ManagerBankBroker Dealer
Oral reply to Parliamentary Question on Singapore dollar Malaysia ringgit exchange rate
Oral reply to Parliamentary Question on Singapore dollar Malaysia ringgit exchange rate
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BankWealth ManagerAll Firms
"Strengthening Foundations and Driving Value Creation in Singapore's Listed Companies" - Address by Mr Chia Der Jiun, Managing Director of the Monetary Authority of Singapore, at the Singapore Institute of Directors’ inaugural Chairpersons Guild Forum on 6 March 2026
At the Singapore Institute of Directors’ inaugural Chairpersons Guild Forum on 6 March 2026, Mr Chia Der Jiun, Managing Director of the Monetary Authority of Singapore, spoke about the role of boards and strong board leadership in influencing strong shareholder outcomes, and highlighted how MAS would support the efforts of chairpersons and boards in putting in place such good practices in place.
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Asset ManagerBankBroker Dealer
Written reply to Parliamentary Question on NETS' QR System and SGQR
Written reply to Parliamentary Question on NETS' QR System and SGQR
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Payment ProviderAll Firms
MAS Sets Supervisory Expectations on Financial Institutions for Transition Planning Practices in addressing Environmental Risk
MAS today issued three Guidelines on Environmental Risk Management - Transition Planning to separately set out MAS’ supervisory expectations for banks, insurers and asset managers to manage the transition and physical risks they and their portfolios face from climate change.
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BankAsset ManagerInsurance
ID 04/26 Issuance of Guidelines on Transition Planning (Insurers)
Inform insurers of the publication of an addendum on transition planning to the Guidelines on Environmental Risk Management, which sets out more detailed supervisory expectations for insurers to manage the transition and physical risks they face from climate change as part of a sound transition planning process.
AI Analysis
The Monetary Authority of Singapore (MAS) has issued an addendum on **transition planning** to its Guidelines on Environmental Risk Management, outlining detailed supervisory expectations for insurers to address **climate transition and physical risks** through robust processes. This matters for compliance professionals as it mandates integration of climate risks into insurers' strategies, enhancing resilience amid global net-zero transitions and potential supervisory scrutiny. Effective immediately as of 05 March 2026, it builds on prior consultations to promote customer and investee decarbonization without indiscriminate divestment.[https://www.mas.gov.sg/regulation/circulars/id04_26]
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
Written reply to Parliamentary Question on green, social, sustainability, and sustainability-linked loans
Written reply to Parliamentary Question on green, social, sustainability, and sustainability-linked loans
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BankAsset ManagerWealth Manager
Written reply to Parliamentary Question on Philanthropic Contributions by Single Family Offices
Written reply to Parliamentary Question on Philanthropic Contributions by Single Family Offices
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Family Office
Written reply to Parliamentary Questions on Visa and Mastercard Fees
Written reply to Parliamentary Questions on Visa and Mastercard Fees
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BankPayment Provider
Comments by MAS on Market Conditions
In response to media queries, MAS said that it is closely monitoring developments arising from the ongoing situation in the Middle East, and is assessing the impact on the domestic economy and financial system.
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BankAsset ManagerBroker Dealer
Written reply to Parliamentary Question on New Currency Note Series
Written reply to Parliamentary Question on New Currency Note Series
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BankWealth ManagerAll Firms
Reply to COS Cuts on Adequate Provision of ATMs and VTMs, Mandating the Acceptance of Cash, Sustainability of EQDP and Insurance for Persons with Disabilities
Reply at Committee of Supply 2026 on Adequate Provision of ATMs and VTMs, Mandating the Acceptance of Cash, Sustainability of EQDP and Insurance for Persons with Disabilities
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BankWealth ManagerInsurance
Written reply to Parliamentary Question on Circulation of Five-Cent Coins
Written reply to Parliamentary Question on Circulation of Five-Cent Coins
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BankPayment ProviderAll Firms
Consumer Price Developments in January 2026
This January 2026 report contains an update of the latest consumer price developments in Singapore, prepared by MAS and the Ministry of Trade and Industry.
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BankWealth ManagerAsset Manager
Eminent Finance Professor Arvind Krishnamurthy Appointed MAS Distinguished Term Professor at NUS
NUS and MAS have jointly appointed Professor Arvind Krishnamurthy as the MAS Distinguished Term Professor in Economics and Finance from 18 to 28 February 2026.
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BankAsset ManagerBroker Dealer
Workgroup convened to enhance Singapore’s ecosystem for Growth Capital
Singapore, 13 February 2026… The Prime Minister and Minister for Finance announced at his 2026 Budget Statement the establishment of a workgroup to develop strategies to strengthen Singapore as a leading centre for growth capital. The Growth Capital Workgroup will be chaired by Mr Chee Hong Tat, Minister for National...
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BankAsset ManagerBroker Dealer
Reply to Adjournment Motion on “An Industrial Policy in Finance” by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of MAS, on behalf of Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of MAS, on 12 February 2026
Reply to Adjournment Motion on “An Industrial Policy in Finance” by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of MAS, on behalf of Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of MAS, on 12 February 2026
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BankAsset ManagerBroker Dealer
MAS Announces Expansion of Equity Market Development Programme
The expansion of the EQDP will enable more high-quality asset managers with strategies that invest significantly in Singapore equities to be funded, and also catalyse more third-party investments into the equities market.
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Asset ManagerBank
Written reply to Parliamentary Question on Credit Card Fraud Liability and Dispute Resolution
Written reply to Parliamentary Question on Credit Card Fraud Liability and Dispute Resolution
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BankPayment ProviderAll Firms
Written reply to Parliamentary Question on Insurance Products Distribution through E-commerce Platforms
Written reply to Parliamentary Question on Insurance Products Distribution through E-commerce Platforms
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InsuranceAll Firms
Written reply to Parliamentary Question on alternative verification methods for medically vulnerable customers
Written reply to Parliamentary Question on alternative verification methods for medically vulnerable customers
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BankFintechAll Firms
“Singapore’s Grant to the International Monetary Fund’s Trust for the Special Poverty Reduction and Growth Operations for the Heavily Indebted Poor Countries (“PRG-HIPC Trust”), to Support Sudan’s Debt Relief” - Second Motion Speech by Mr Alvin Tan, Minister of State for Ministry of Trade and Indust
“Singapore’s Grant to the International Monetary Fund’s Trust for the Special Poverty Reduction and Growth Operations for the Heavily Indebted Poor Countries (“PRG-HIPC Trust”), to Support Sudan’s Debt Relief” - Second Motion Speech by Mr Alvin Tan, Minister of State for Ministry of Trade and Industry and Ministry of National Development and Board Member of the Monetary Authority of Singapore (MAS), on behalf of Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chai
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BankWealth ManagerAll Firms
“Singapore’s Contributions to the International Monetary Fund” – First Motion Speech by Mr Alvin Tan, Minister of State for Ministry of Trade and Industry and Ministry of National Development and Board Member of the Monetary Authority of Singapore (MAS), on behalf of Mr Gan Kim Yong, Deputy Prime Mi
First Motion Speech by Mr Alvin Tan, Minister of State for Ministry of Trade and Industry and Ministry of National Development and Board Member of the Monetary Authority of Singapore (MAS), on behalf of Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of MAS on 4 February 2026.
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BankAsset ManagerWealth Manager
Written reply to Parliamentary Questions on Buy Now, Pay Later transactions and the maximum purchase limit for those below 21 years old
Written reply to Parliamentary Questions on Buy Now, Pay Later transactions and the maximum purchase limit for those below 21 years old.
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BankFintechPayment Provider
Written reply to Parliamentary Question on delays and non-receipt of transaction alerts for fraudulent transactions
Written reply to Parliamentary Question on delays and non-receipt of transaction alerts for fraudulent transactions.
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BankFintechPayment Provider
Written reply to Parliamentary Question on clearer regulatory guidance on assigning liability for fraudulent transactions
Written reply to Parliamentary Question on clearer regulatory guidance on assigning liability for fraudulent transactions.
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BankFintechPayment Provider
Oral reply to Parliamentary Question on disputes related to health insurance claims
Oral reply to Parliamentary Question on disputes related to health insurance claims.
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InsuranceAll Firms
Reply to Adjournment Motion on “Make (Singapore) Equities Great Again” by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of MAS, on behalf of Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of MAS, on 3 February 2026
Reply to Adjournment Motion on “Make (Singapore) Equities Great Again” by Mr Chee Hong Tat, Minister for National Development, and Deputy Chairman of MAS, on behalf of Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of MAS, on 3 February 2026.
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Asset ManagerBroker DealerWealth Manager
Written reply to Parliamentary Questions on the Shared Responsibility Framework and real-time fraud detection standards expected of financial institutions in Singapore
Written reply to Parliamentary Questions on the Shared Responsibility Framework and real-time fraud detection standards expected of financial institutions in Singapore.
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BankFintechPayment Provider
MAS Monetary Policy Statement - January 2026
Read the Monetary Policy Statement for January 2026.
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BankAsset ManagerWealth Manager
Singapore to Join International Efforts to Support IMF’s Initiatives for Vulnerable Countries
MAS announced that Singapore intends to join international efforts to enhance the capacity of the International Monetary Fund to help vulnerable member countries deal with economic shocks.
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BankAsset ManagerWealth Manager
ID 01/26 MAS Notice 126 - Lapses in Own Risk and Solvency Assessment (ORSA) Report Submissions
Inform and remind insurers of MAS Notice 126 requirements and expectations on ORSA report submissions.
AI Analysis
This MAS circular ID 01/26, published on 02 January 2026, addresses observed lapses in ORSA report submissions under MAS Notice 126, specifically reminding insurers not to fully rely on group-level ORSA reports to meet local requirements. It matters because non-compliance risks regulatory scrutiny, enforcement actions, and weakened enterprise risk management (ERM) frameworks essential for solvency and risk oversight in Singapore's insurance sector.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
Circular on Financial Institution Incident Reporting
This circular provides guidance on how financial institutions should report incidents to MAS under the various acts, regulations, notices, circulars and guidelines.
AI Analysis
This MAS circular updates the incident reporting process for financial institutions (FIs), mandating use of a revised template on the MAS-Tx platform for reportable incidents starting 1 February 2026. It standardizes initial notifications and follow-up submissions under applicable regulations, enhancing supervisory efficiency amid rising technology risks. Compliance is critical as it aligns with MAS's focus on operational resilience, with non-adherence risking enforcement actions seen in recent AML/CFT penalties.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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BankInsurancePayment Provider
ID 15/25 Update to Notice 133 and Notice FHC-N133 on Additional Criteria for Additional Tier 1 and Tier 2 Capital Instruments for Insurers
Informs insurers on the amendments of Notice 133 and Notice FHC-N133 to include the additional criteria to recognise capital instruments issued by insurers as AT1 or Tier 2 Capital under the RBC 2 framework, subject to the condition that such capital instruments are sold only to persons who are not retail investors in Singapore from 1 January 2026.
AI Analysis
MAS Circular ID 15/25 announces amendments to Notice 133 and Notice FHC-N133, introducing additional criteria for insurers to recognize capital instruments as Additional Tier 1 (AT1) or Tier 2 Capital under the RBC 2 framework. These changes enhance capital quality standards while restricting issuance to non-retail investors in Singapore, effective 1 January 2026, to strengthen insurer resilience and policyholder protection.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
ID 14/25 and FAS 16/2025 Amendments to MAS Notice 211 and MAS Notice 502
Notification of Amendments to Annex 1 of MAS Notice 211 on Minimum and Best Practice Training and Competency Standards for Direct General Insurers and Appendix 1 of MAS Notice 502 on Minimum and Best Practice Training and Competency Standards for Direct General Insurers.
AI Analysis
This MAS circular (ID 14/25 and FAS 16/2025, published 30 October 2025) notifies amendments to Annex 1 of MAS Notice 211 and Appendix 1 of MAS Notice 502, focusing on minimum and best practice **training and competency standards** for direct general insurers and insurance brokers. It matters because these updates strengthen regulatory expectations for staff qualifications in the general insurance sector, ensuring higher professional standards amid evolving risks like AML/CFT, with direct implications for licensing compliance and operational resilience.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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InsuranceBroker Dealer
ID 13/25 Response to Consultation Paper on Proposed Capital Treatment for Structured Products and Infrastructure Investments for Insurers
Informs insurers on the issuance of the Response to Consultation Paper on the proposed enhancements to the RBC 2 capital treatment for investment in structured products and infrastructure investments for insurers under RBC 2 framework.
AI Analysis
The Monetary Authority of Singapore (MAS) issued Circular ID 13/25 on 28 October 2025, responding to feedback on its October 2024 consultation paper proposing enhancements to the RBC 2 capital treatment for insurers' investments in structured products and infrastructure assets. This matters because it finalizes revisions to MAS Notice 133, introducing differentiated risk charges to encourage infrastructure investments while maintaining prudential safeguards, with changes effective 31 March 2026.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
ID 12/25 Response to Consultation Paper on Proposed Inclusion of Additional Criteria for Additional Tier 1 and Tier 2 Capital Instruments for Insurers
Informs insurers on the issuance of the Response to Consultation Paper on Proposed Inclusion of Additional Criteria for Additional Tier 1 and Tier 2 Capital Instruments for Insurers.
AI Analysis
This MAS circular (ID 12/25) announces the Response to Consultation Paper on adding new criteria for insurers' Additional Tier 1 (AT1) and Tier 2 capital instruments under the RBC 2 framework, finalizing enhancements to strengthen capital quality and loss absorption. It matters because it directly updates Notices 133 and FHC-N133, impacting how insurers recognize capital instruments from 1 January 2026, with a restriction to non-retail investors in Singapore, aligning Singapore's regime with global standards like IAIS ICS.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
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Insurance
ID 11/25 Amendments To MAS Notice 321 On Direct Purchase Insurance Products
Requirements for life insurers to manufacture and offer direct purchase insurance (DPI).
AI Analysis
ID 11/25 announces amendments to MAS Notice 321, which mandates requirements for direct life insurers to manufacture and offer standardized Direct Purchase Insurance (DPI) products, such as term life and whole life policies with optional critical illness riders. These updates, effective 1 October 2025, refine product approval and notification processes to streamline launches while maintaining consumer protection and regulatory oversight for no-advice direct sales channels. This matters for compliance as it ensures insurers provide affordable, comparable direct options, reducing reliance on intermediaries amid Singapore's push for direct distribution under initiatives like FAIR.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
Sectors:
Topics:
Insurance
ID 10/25 Response to Consultation Paper on Proposed Equity Counter-Cyclical Adjustment for Insurers
Informs insurers on the issuance of the Response to Consultation Paper on Proposed Equity Counter-Cyclical Adjustment for Insurers.
AI Analysis
The Monetary Authority of Singapore (MAS) has finalized its **equity counter-cyclical adjustment (CCA)** framework for insurers, making it a mandatory requirement under the RBC 2 capital framework effective January 1, 2026. This regulatory enhancement aims to reduce procyclicality in equity investment risk requirements by adjusting capital charges based on market conditions, requiring all licensed insurers to implement uniform CCA calculations using monthly average year-on-year equity returns.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
Sectors:
Topics:
Insurance
ID 07/25 Issuance of Consultation Paper on Proposed Changes to the Group Capital Framework for Designated Financial Holding Companies (Licensed Insurer)
Informs insurers of the issuance of the Consultation Paper on Proposed Changes to the Group Capital Framework for Designated Financial Holding Companies (Licensed Insurer).
AI Analysis
The Monetary Authority of Singapore (MAS) issued a consultation paper on 24 July 2025 proposing amendments to Notice FHC-N133, which governs the valuation and capital framework for Designated Financial Holding Companies (Licensed Insurer) under the enhanced risk-based capital (RBC 2) consolidation approach. These changes aim to refine the group capital framework by incorporating global regulatory updates and market developments, ensuring more robust capital treatment for non-insurance entities, joint ventures, and non-controlling interests. Compliance professionals should prioritize this as it directly impacts capital adequacy calculations for affected groups, with the consultation now closed post-25 August 2025.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
Sectors:
Topics:
Insurance
ID 08/25 Issuance of Consultation Paper and Quantitative Impact Study on Proposed General Insurance Catastrophe Risk Requirement
Informs insurers of the issuance of the Consultation Paper and Quantitative Impact Study on the Proposed General Insurance Catastrophe Risk Requirement
AI Analysis
The Monetary Authority of Singapore (MAS) issued a consultation paper on 24 July 2025 proposing a new **General Insurance Catastrophe Risk Requirement (GI Cat risk charge)** under the enhanced Risk-Based Capital 2 (RBC 2) framework to capture extreme events not covered by existing premium and claim liability risks. This matters for general insurers as it introduces standardized scenarios for Singapore Insurance Fund (SIF) and Offshore Insurance Fund (OIF), plus bespoke scenarios, potentially increasing capital requirements and necessitating model governance and quantitative impact studies (QIS). Compliance professionals must engage promptly as the consultation closed on 5 September 2025, with implementation likely following RBC 2 enhancements.
AI-generated analysis. May contain errors or omissions — verify with the original MAS source before acting. Full disclaimer.
Sectors:
Topics:
Insurance
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