MAS issued the revised MAS Notice 105 on Insurers’ Appointment of Custodians and made consequential amendments to MAS Notice 122 on Asset and Liability Exposures for Insurers. The revised MAS Notice 105 will take effect on January 01, 2020 and will apply to all existing and new custody arrangements. The revised MAS Notice 122 shall take effect on May 30, 2019.
MAS, in August 2018, had issued its response to the feedback received on a consultation paper on the review of MAS Notice 105, which sets out requirements on insurers’ appointment of custodians and fund managers. As mentioned in the response to the consultation paper, insurers are required to submit custodian information based on the template under the revised MAS Notice 122 for asset positions as at December 31, 2019. This will be due for submission by March 31, 2020.
Effective Date: January 01, 2020 (MAS Notice 105); May 30, 2019 (MAS Notice 122)
Keywords: Asia Pacific, Singapore, Insurance, MAS Notice 122, Asset and Liability Exposures, MAS Notice 105, MAS
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