Monetary Authority of Singapore Releases Timeline, Finalized Forms for Revised Reporting Notices
Financial institutions in Singapore have 24 months to be fully compliant with the Monetary Authority of Singapore’s revised notices 610 and 1003 for collecting trade data—though details of some asset classes will be released later, as the industry discusses whether firms can utilize existing mechanisms to ease the reporting burden. Wei-Shen Wong reports.
“We are sharing the finalized reporting forms ahead of the release to provide the industry with more time to finalize their systems implementation plan,” says a spokesperson for MAS, which issued a letter to all banks and merchant banks on March 29. The letter, signed by MAS chief data officer David Hardoon, contains finalized reporting forms, excluding Appendix 1, along with the implementation timeline of the revised MAS 610 and MAS 1003 notices.
The review began on December 31, 2014, and the
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