Regulatory Alerts2021-06-28
Added · Updated
Guidelines for Operation of Merchant Banks
The Guidelines for Operation of Merchant Banks were cancelled with effect from 1 July 2021. These guidelines previously applied to all merchant banks in Singapore, including locally incorporated entities and branches, covering permitted activities and restrictions. Specific provisions included requirements for obtaining Monetary Authority of Singapore approval to operate an Asian Currency Unit, rules on issuing and safekeeping negotiable certificates of deposit and bearer securities, and regulations governing the lending of Singapore dollars by merchant banks to non-resident financial institutions.
Guidelines
Last Revised Date: 28 June 2021
Guidelines for Operation of Merchant Banks [Cancelled]
Guidelines on the permitted activities and restrictions for merchant banks. The Guidelines was cancelled with effect from 1 July 2021.
Operations
Applies to:
Merchant Bank (Locally Incorporated)
,
Merchant Bank (Branch)
View Document
Cancellation - Guidelines for Operation of Merchant Banks
(180.2 KB)
These guidelines apply to all merchant banks in Singapore. The guidelines cover the allowed and prohibited activities for merchant banks.
01 Jul 2021 Guidelines for Operation of Merchant Banks (30.4 KB) is cancelled.
Requirement for merchant banks to obtain MAS' approval for the operation of an Asian Currency Unit.
Requirements for banks and merchant banks operating an Asian Currency Unit.
Requirements for merchant banks on the issuance and safekeeping of negotiable certificates of deposit and bearer securities.
Governs the lending of SGD by merchant banks to non-resident financial institutions, including requirements for submitting monthly returns.
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