By Philippa Allen in Singapore
Mr Ravi Menon, Managing Director Monetary Authority of Singapore spoke this morning at the Thomson Reuters Pan Asian Regulatory Summit. He announced two interesting initatives.
MAS is surveying institutions in relation to the Guidelines on Fair Dealing and is planning to publish its findings to fine tune the guidelines.
MAS is assessing the need for a local trade depository and will consult with the market by the end of 2011 on proposals for OTC derivatives clearing so as to be in compliance with the G20 reform timetable by 2012.