On April 28, the Monetary Authority of Singapore issued a consultation paper to further implement OTC regulatory reform in Singapore. The MAS is seeking comments on draft regulations that affect exchanges and recognized market operators for the trading of OTC derivatives. The draft regulations cover licensing and capital requirements and transitional arrangements. A second consultation paper will be issued by the MAS later in May which will cover changes to product definitions under the Securities and Futures Act and extend the capital markets services licensing regime to OTC derivatives.
