Featured Product

    MAS Amends Regulation on Reporting of Derivatives Contracts

    January 02, 2019

    MAS amended the regulation on reporting of derivatives contracts and updated the associated frequently asked questions (FAQs). The amended regulation, which is titled "Securities and Futures (Reporting of Derivatives Contracts) (Amendment No. 2) Regulations 2018," became effective from January 01, 2019. The FAQs are intended to aid implementation of the reporting obligations and elaborate on the intent of MAS for the requirements set out under the Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013.

    The following amendments have been made to the Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013:

    • Regulation 9 has been amended by deleting the words “regulation 11” in paragraphs (1), (2), (3), and (4) and substituting in each case the words “regulation 11, 11A, 11B or 11C”.
    • Regulation 11 has been deleted and substituted with a new Part IIA on “Deferred Reporting of Counterparty Information”
    • First Schedule has been amended by deleting the words “Regulation 11(1), (2) and (4)” in the Schedule reference and substituting the words “Regulations 11(1)(b), (2), (4)(b) and (5), 11A(1)(b) and (2), 11B(2) and (4) and 11C(1)(b), (2), (4)(b) and (5)”
    • Fifth Schedule has been amended by deleting the Schedule reference and substituting the reference “Regulations 11A(1)(b), 11B(4), and 11C(1)(b) and (4)(b)”

    Part VIA of the Securities and Futures Act sets out the regulatory framework for reporting of over-the-counter (OTC) derivatives contracts, with the detailed requirements in the Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013 (SF(RDC)R). Financial institutions and other persons with significant derivatives activities may be subject to reporting obligations. Specified derivatives contracts that are traded in Singapore and/or booked in Singapore are in scope of the reporting obligations. Under the reporting obligations, the prescribed information must be reported to a licensed trade repository or licensed foreign trade repository, within two business days of the execution of the specified derivatives contracts.

     

    Effective Date: January 01, 2019

    Keywords: Asia Pacific, Singapore, Securities, Reporting, Securities and Futures Regulations, OTC Derivatives, MAS

    Featured Experts
    Related Articles
    News

    EC Delegated Regulation on Specialized Lending Exposures Under CRR

    EC finalized the Delegated Regulation 2021/598 that supplements the Capital Requirements Regulation (CRR or 575/2013) and lays out the regulatory technical standards for assigning risk-weights to specialized lending exposures.

    April 14, 2021 WebPage Regulatory News
    News

    OSFI Consults on Minimum Qualifying Rate for Uninsured Mortgages

    OSFI is proposing new minimum qualifying rate for uninsured mortgages under the Guideline B-20.

    April 13, 2021 WebPage Regulatory News
    News

    ECB Updates List of Supervised Entities in EU in April 2021

    ECB updated the list of supervised entities in EU, with the number of significant supervised entities amounting to 115 as of the March 01, 2021 cut-off date.

    April 12, 2021 WebPage Regulatory News
    News

    OSFI Issues Letter on ICAAP Submission and Internal Audit of BCAR

    OSFI issued a letter to confirm that a formal Internal Capital Adequacy Assessment Process (ICAAP) submission is not required in 2021.

    April 12, 2021 WebPage Regulatory News
    News

    EC Agrees to Prolong Scheme to Support NPL Reduction at Greek Banks

    EC has approved the prolongation of an existing Greek scheme aiming to support the reduction of nonperforming loans, or NPLs, of Greek banks on the basis that it remains free of any State aid.

    April 09, 2021 WebPage Regulatory News
    News

    EIOPA Study Examines Internal Model Market and Credit Risks Under SII

    EIOPA published a report presenting the results of its yearly study on the internal modeling of market and credit risks under the Solvency II Directive, also known as SII.

    April 09, 2021 WebPage Regulatory News
    News

    ESMA Issues Notification Templates for STS Synthetic Securitizations

    ESMA published the interim simple, transparent, and standardized (STS) notification templates for synthetic securitizations, post the recent amendments to the Securitization Regulation.

    April 09, 2021 WebPage Regulatory News
    News

    EBA Issues Erratum for Phase 2 Package of Reporting Framework 3.0

    EBA published an erratum for the technical package on phase 2 of the reporting framework 3.0.

    April 08, 2021 WebPage Regulatory News
    News

    EBA Updates Lists of Entities for Use in Capital Calculations under SA

    EBA published an erratum for the technical package on phase 2 of the reporting framework 3.0.

    April 08, 2021 WebPage Regulatory News
    News

    FED Proposes to Automate Bank Stock Adjustment Using Call Report Data

    FED published a proposal to automate non-merger-related adjustments to member banks' subscriptions to Federal Reserve Bank capital stock.

    April 08, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6835