Regulatory Alerts2007-03-19
Added
Guidelines for Banks Dealing in Government Securities
The Monetary Authority of Singapore issues these guidelines to regulate banks acting as Primary, Registered, or Secondary dealers in government securities. The document mandates prior regulatory approval for such business activities and requires strict adherence to market practices, accurate record-keeping, and the segregation of client assets in trust accounts. It further prohibits unsecured credit to employees for securities purchases and establishes specific operational rules for exempt banks and offshore entities.
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