Monetary Authority of Singapore Annual Report 2010/2011
Our Work
ENSURING SAFETY AND SOUNDNESS OF FINANCIAL INSTITUTIONS AND FINANCIAL SYSTEM   27
Prudential Supervision and Surveillance   27
Fostering a Sound and Reputable Financial Centre   27
Property Market Measures   28
Review of Deposit Insurance Scheme in Singapore   28
Insurance Resolution and Policy Owners' Protection   28
Review of Insurance Act   29
Enhancing Safeguards for Retail Customers   29
Enhancing Regulatory Regime for Fund Management Companies   30
Achieving Fair Dealing Outcomes   30
Enhancing Corporate Governance Standards   31
Conclusion of First Two Civil Penalty Cases   31
Box 3: The Representative Notification Framework   32
Enhancing Market Conduct   33
Audit Assurance   33

ENSURING SAFETY AND SOUNDNESS OF FINANCIAL INSTITUTIONS AND FINANCIAL SYSTEM

Prudential Supervision and Surveillance

Over the year, MAS has maintained close monitoring and supervision of financial institutions and their risk exposures in light of developments in the international financial system such as the European sovereign debt crisis. We coordinated our macroeconomic surveillance and supervisory functions more closely to identify and address the impact of these developments in the macro-environment on individual institutions.

As host regulator to many systemically important financial institutions with large cross-border operations, MAS recognises the importance of cross-border supervisory cooperation. Besides holding dialogues with fellow regulators, MAS also participated in the supervisory college meetings of several international financial institutions.