Selected Roles and Functions of the MAS

The MAS performs five oversight functions
(MAS' Roles and Responsibilities in Relation to Securities Clearing and Settlement Systems in Singapore , August 2004), namely:

• Regulation
• Authorisation
• Supervision
• Surveillance
• Enforcement

Regulation

As a regulator, the MAS determines the scope of financial services activities that should be regulated, and sets the rules and standards governing the behaviour of financial markets and institutions. The MAS' prudential regulation focuses on the safety and soundness of financial institutions, seeking to safeguard the value of the assets that underpin the ability of these institutions to fulfill their financial contracts, such as bank deposits and insurance policies. It involves setting risk-based capital and prudential requirements. The MAS' market conduct regulation focuses on how financial firms and their representatives carry out business dealings with consumers, and seeks to promote fair-dealing. It involves setting requirements and standards for sound business conduct practices.