Financial Institutions (Miscellaneous Amendments) Act 2024 of Singapore comes into effect to enhance MAS' powers
The Financial Institutions (Miscellaneous Amendments) Act 2024 (“FIMA Act”) has been passed to enhance the powers of the Monetary Authority of Singapore (“MAS”).
Virtus Law partner Sheetal Sandhu and associates Claris Saw and Ming Jing Aik discuss how these changes are crucial for financial institutions and related entities, introducing more rigorous oversight and compliance requirements.
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