Establishes the Monetary Authority of Singapore as a corporation and covers its control and resolution of financial institutions and a framework for issuing securities and regulating primary dealers. MAS enforcement releases cite section 27B(2) and section 176(1A) of this Act for AML/CFT notice breaches and composition penalties.
Who it applies to
Banking · Insurance · Capital Markets · Payments & Fintech
The Reserve Bank of India imposed a monetary penalty of ₹3.10 lakh on Ola Financial Services Private Limited for non-compliance with KYC directions under the Payment and Settlement Systems Act, 2007. Following a…
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