SINGAPORE (Aug 5): The Monetary Authority of Singapore on Monday released a consultation paper on requirement on controls against market abuse, as well as a joint practice guide on trade surveillance with the Singapore Exchange.

The consultation paper outlines four measures that MAS is proposing to impose on financial institutions that deal with capital market products. These are the client identification rule, records of communication on orders and trades, client device identification, as well as register of cash and third party payments.

The proposed client identification rule is for Financial Institutions (FIs) to establish arrangements with clients to facilitate the provision of ultimate beneficial owner information to MAS or any law enforcement agency, within five business days, upon...(click on link for full story on theedgesingapore.com)