Singapore Parliament amends derivatives law
On Jan. 9, the Singapore Parliament approved a bill to implement the remaining aspects of Singapore's commitments to implement the G20 derivatives reforms. The bill also transfers regulatory authority for over the counter trading of commodity derivatives from International Enterprise Singapore, a government body set up to promote international trade, to the Monetary Authority of Singapore. In addition, the Securities and Futures Act was amended to enhance regulatory safeguards for retail investors, enhance the credibility and transparency of the capital markets, and strengthen the enforcement regime against market misconduct.
