With the final phase of the MAS derivative reporting regulations now in force, our team has found that some firms are unaware they are captured under the regime. This is why we’ve developed the MAS Assessment Tool.
We recommend using our MAS Assessment Tool if you are unsure about whether you:
- have MAS reporting obligations;
- are under-reporting your trades;
- are over-reporting your trades; or
- are reporting your trades incorrectly under MAS.
Upon completion you will receive an immediate answer emailed directly to your inbox. All you have to do is simply answer a few questions about your business and the financial products in which you deal.
TRAction has connected with DTCC (the only licensed trade repository regulated by MAS) to ensure its clients achieve compliance with the MAS regime. We encourage prospective clients in scope of the additional reporting requirements (foreign exchange, commodity and equity OTC derivative contracts) to get in contact with us as soon as possible to avoid non-compliance penalties.
In respect of MAS reporting obligations, March 2022 will also see the introduction of Best Execution requirements in Singapore. As a result, CMSL holders, banks, merchant banks and finance companies will be required to have in place policies and procedures to ensure clients’ orders are executed on the best available terms to support fair outcomes for all clients. TRAction is offering a free trial of our Best Execution Monitor for those who onboard for MAS reporting.
Still feeling overwhelmed by your reporting obligations or debating whether delegating your reporting to TRAction is worth it? We have summarised the key areas in which delegated reporting can benefit and maximise the effectiveness of your team. Download your copy of Onboarding and Reporting with TRAction.