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

Enhancing Market Conduct

From April 2010 to March 2011, MAS published a total of 45 formal regulatory and enforcement actions against companies and individuals for market conduct breaches. These actions included reprimands, composition of fines, imposition of civil penalties, and issuance of prohibition orders. Over this period, MAS also took other regulatory and administrative actions in another 232 cases.