FIA has submitted a response to the Monetary Authority of Singapore (MAS) jointly with the International Swaps and Derivatives Association (ISDA) and the Asia Securities Industry & Financial Markets Association (ASIFMA).
The MAS had released a policy consultation paper relating to the regulatory framework for capital markets intermediaries dealing in OTC derivatives. Intermediaries dealing in exchange-traded derivatives will also be affected by the proposals.
The joint response addressed a number of specific issues such as licensing, business conduct requirements, record keeping, risk management requirements and capital and financial requirements. The three associations also urged the MAS to recognise compliance with equivalent overseas regimes to minimise duplicative and potentially inconsistent rules. The response can be viewed in Resources on the right.
