Page 51 - 期货和衍生品行业监管动态（2024年1月）

期货和衍生品行业监管动态

(c) Obtaining court warrant to seize evidence. Under the SFA, FAA and TCA,

MAS can obtain a Court warrant to enter premises and seize evidence when a person

has failed to comply with an order to produce information, or evidence may be

destroyed or tampered with. This power will be extended to the IA, PS Act and

FSMA.

(d) Transfer of evidence between MAS and other agencies. The current

provisions in the SFA and FAA that enable evidence to be transferred between MAS

and the Commercial Affairs Department (“CAD”) or the Attorney-General’s

Chambers (“AGC”) have been expanded and extended to the other Acts. This will

enable (i) MAS to use evidence obtained by other agencies under the Criminal

Procedure Code 2010 for MAS’ investigations, regulatory actions, as well as in

appeals against the latter; and (ii) CAD and AGC to use evidence gathered via MAS’

exercise of statutory investigative powers for criminal proceedings.

(II) Clarify applicability of MAS’ reprimand powers

Currently, under the SFA, FAA and TCA, MAS may reprimand a “relevant

person” (which refers to financial institutions regulated by MAS under those Acts or

employees, officers, partners or representatives of such regulated financial
institutions), whom MAS is satisfied to be guilty of misconduct.

The FIMA Bill makes it clear that MAS’ powers under those Acts allow MAS to

reprimand a person who was a “relevant person” at the time of the misconduct, even if

the person has ceased to be a “relevant person” since the misconduct, i.e. the person is

no longer regulated by MAS or has left the employ of a regulated financial institution.

(III) Expand MAS’ powers to issue directions to capital markets services

licence holders (“CMSL holders”) that conduct unregulated business

CMSL holders may conduct unregulated businesses such as offering products

that are not regulated by MAS (e.g. bitcoin futures and other payment token

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