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期货和衍生品行业监管动态

Companies Act 2005 (“TCA”). The Bill also includes miscellaneous amendments to

certain Acts under MAS’ purview which are – (a) consequential from the introduction

of new processes; (b) clarificatory or technical in nature; and (c) meant to update the

provisions or remove certain administrative constraints.

MAS has conducted public consultation on the key amendments in the FIMA

Bill. Comments received have been incorporated, where appropriate, into the FIMA

Bill.

KEY AMENDMENTS IN THE FIMA BILL

Amendments have been made to four key areas, which are briefly described

below.

(I) Enhance MAS’ investigative powers

To strengthen MAS’ evidence-gathering powers and facilitate greater

inter-agency coordination, MAS will introduce several enhancements to its

investigative powers under the SFA and the FAA, and amend the IA, PS Act, TCA and

the FSMA (collectively, the “other Acts”) to broadly align the investigative powers

under the other Acts with those under the SFA and FAA. The main changes are as

follows:

(a) Power to compel individuals to attend interviews and record written

statements. The existing power under the SFA and FAA to compel individuals to

attend interviews and record written statements will be extended to the other Acts.

(b) Entering premises without warrant. The existing power to enter premises

without a warrant under the SFA and FAA will be enhanced to allow MAS to do so

without giving prior notice, where there are reasonable grounds for suspecting that the

premises are or have been occupied by a person who is being investigated in relation

to a contravention under the SFA and FAA. This power will also be extended to the

other Acts.

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