SINGAPORE’S FINANCIAL INSTITUTIONS (MISCELLANEOUS AMENDMENTS) BILL 新加坡《金融机构（杂项修正）草案》 简介
On 10 January 2024, the Monetary Authority of Singapore (“MAS”) moved the Financial Institutions (Miscellaneous Amendments) Bill (“FIMA Bill”) for its First Reading in Singapore Parliament.
2024年1月10日，新加坡国会对新加坡金融管理局（也就是新加坡的央行）（简称 “金管局”）提交的《金融机构（杂项修正）草案》（简称 “《FIMA 草案》”）进行了初读。
The FIMA Bill aims to strengthen MAS’ investigative, reprimand, supervisory, and inspection powers across various Acts under MAS’ purview. These Acts include (a) Financial Advisers Act 2001 (“FAA”); (b) Financial Services and Markets Act 2022 (“FSMA”); (c) Insurance Act 1966 (“IA”); (d) Payment Services Act 2019 (“PS Act”); (e) Securities and Futures Act 2001 (“SFA”); and (f) Trust Companies Act 2005 (“TCA”).
《FIMA草案》旨在加强金管局对其监管范围内的各项法案的调查、谴责、监督和检查权力。这些法案包括：（a）《2001年财务顾问法案》（简称“《FAA法案》”）；（b）《2022年金融服务和市场法案》（简称“《FSMA法案》”）；（c）《1966年保险法案》（简称“《IA法案》”）；（d）《2019年支付服务法案》（简称“《PS法案》”）；（e）《2001年证券及期货法案》（简称“《SFA法案》”）；和（f）《2005年信托公司法案》（简称“《TCA法案》”）。
HIGHLIGHTS OF THE FIMA BILL
《FIMA草案》的重点概述
In the FIMA Bill, major amendments have been made to the following four key areas which are briefly summarised as follows.
《FIMA草案》对以下四个关键领域进行了重大修改，概述如下。
A. Enhance MAS’ investigative powers
加强金管局的调查权力
The FIMA Bill seeks to enhance the investigative powers of MAS and strengthen its evidence-gathering powers. For instance, the existing power of MAS under the SFA and FAA to compel individuals to attend interviews and record written statements will be extended to IA, PS Act, TCA and FSMA (collectively, the “other Acts”). Further, the existing power of MAS under the SFA and FAA to enter premises without a warrant will be enhanced to allow MAS to do so without giving prior notice where there are reasonable grounds for suspecting that the premises are or have been occupied by a person who is being investigated in relation to a contravention under the SFA and FAA. This power will also be extended to the other Acts.
《FIMA草案》旨在加强金管局的调查权力与证据收集权力。例如，金管局在现有的在《SFA法案》和《FAA法案》内强制个人参加面试并记录书面声明的权力将被扩大到《IA法案》、《PS法案》、《TCA法案》和《FSMA法案》（统称为“其他法案”）。此外，在有合理理由怀疑有关场所被正在调查违反《SFA法案》和《FAA法案》的人占用或曾占用时，金管局在《SFA法案》和《FAA法案》下无需搜查令即可进入该等场所的权力将得到加强，即无需事先通知即可进入有关场所收集证据。这项无需搜查令即可进入被怀疑场所的权力也将被扩大到其他法案。
B. Clarify applicability of MAS’ reprimand powers
澄清金管局谴责权的适用范围
The SFA, FAA and TCA currently empower MAS to reprimand a “relevant person” (which refers to financial institutions regulated by MAS under those Acts or employees, officers, representatives, or partners of such regulated financial institutions), whom MAS is satisfied to be guilty of misconduct. The FIMA Bill will clarify that the power of MAS under the SFA, FAA and TCA allows MAS to reprimand a person who was a “relevant person” at the time of the misconduct, even if the person has ceased to be a “relevant person” since the misconduct.
《SFA法案》、《FAA法案》和《TCA法案》目前授权金管局谴责那些金管局认为有不当行为的“相关人员”。（“相关人员”指的是那些在这些对应法案下受金管局监管的金融机构或这些受监管金融机构的雇员、官员、代表或合伙人）。《FIMA草案》进一步澄清了金管局在《SFA法案》、《FAA法案》和《TCA法案》内的权力，即允许金管局谴责在不当行为发生时属于“相关人员”的人，换言之，即使这些人在不当行为发生之后不再是“相关人员”，金管局仍然可以对其进行谴责。
C. Expand MAS’ powers to issue directions to capital markets services licence (“CMSL”) holders that conduct unregulated business
扩大金管局对进行未受监管业务的资本市场服务牌照（“CMSL”）持有机构发布指令的权力
CMSL holders may conduct businesses that are not regulated by MAS, which may pose contagion risks to their regulated activities. While MAS has issued guidance to CMSL holders to adopt risk-mitigating measures if they conduct unregulated businesses with retail investors, the FIMA Bill will now allow MAS to issue written directions on the minimum standards that should be in place when CMSL holders conduct unregulated businesses.
资本市场服务牌照持有机构可能会从事一些不受金管局监管的业务，而这些非监管类业务可能会对牌照持有机构的受监管的业务活动产生传染性风险。目前，金管局已向资本市场服务牌照持有机构发布了对应的非监管类业务的指导方针，并要求这些机构采取风险缓解措施。《FIMA草案》则将允许金管局发布书面官方指令，具体规定资本市场服务牌照持有机构开展非监管类业务时应遵守的最低行为标准。
D. Enhance MAS’ supervisory and inspection powers
加强金管局的监管和检查权力
MAS will enhance its supervisory and inspection powers under the SFA, FAA and TCA, to ensure that it has consistent powers across these Acts and to align with the Banking Act 1970. For example, it will be an offence in the SFA, FAA and TCA if a person, other than an individual, fails to exercise reasonable care in ensuring the accuracy of information submitted to MAS, even if the information is not false or misleading in any material particular.
《FIMA草案》将加强金管局在《SFA法案》、《FAA法案》和《TCA法案》内的监管和检查权力，以保证金管局在这些法案内具有协调一致的监管和检查权，旨在确保与《新加坡1970年银行业法令》下的对应权力相一致。例如，在《SFA法案》、《FAA法案》和《TCA法案》中，如果一个非个人的商业实体未能在确保提交给金管局的信息准确性方面行使合理的注意义务，即使该信息在任何实质方面都不是虚假或误导性的，还是可能会被界定为违法行为。
CONCLUDING REMARKS
我们的观察
The FIMA Bill proposes to expand the powers of MAS in various areas. These amendments indicate MAS’ commitment to safeguard the integrity of the financial industry in Singapore.
《FIMA草案》旨在加强金管局在诸多领域的监管权。这些修改充分体现了新加坡央行致力于捍卫新加坡金融业的正直、诚信、廉洁的决心。
REFERENCES 引用
Financial Institutions (Miscellaneous Amendments) Bill – Singapore Statutes Online (agc.gov.sg)
Explanatory Brief: The Financial Institutions (Miscellaneous Amendments) Bill 2024 (mas.gov.sg)
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