CMFAS M5 Chapter 1: Regulatory Bodies and Associations

Monetary Authority of Singapore (MAS)

Objectives of MAS

• Conduct monetary policy; manage the official foreign reserves and the issuance of government securities
• Supervise and develop the financial sector

Acts Administered by MAS:

• Financial Advisers Act (Cap. 110)
• Insurance Act (Cap. 142)
• Banking Act (Cap. 19)
• Exchange (Demutualisation and Mergers) Act (Cap. 99B)
• The Currency Act (Cap.69)
• Government Securities Act (Cap.121A)
• Local Treasury Bills Act (Cap. 167)

Singapore Exchange Limited (SGX)

Regulatory Functions of SGX:

• Issuer Regulation
• Member Supervision
• Market Surveillance
• Enforcement
• Risk Management

Investment Mgmt Association of Singapore (IMAS)

Objectives of IMAS. To:

• promote professionalism in investment management;
• provide a forum for members to discuss issues or matters relating to the investment management industry;
• represent members’ interests and acts as voice for members;
• promote the education of the investing public on investments generally and the investment management industry;
• improve professionalism and standards of research and fund management expertise in Singapore; and
• promote the investment and fund management industry.

IMAS members are governed by a Code of Ethics

Life Insurance Association of Singapore (LIA) is a trade association comprising direct insurers and reinsurers.

Mission of LIA - to promote the growth and development of the Singapore life insurance industry in consultation with the MAS and to protect the interests of life insurers and life insurance policy-owners.

Objectives Of LIA

• development of the life insurance business in consultation with the supervisory authority, the Monetary Authority of Singapore;
• development of industry practices; and
• promotion of public awareness of life insurance.