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Some organizations keep compliance data—all data belonging or pertaining to the enterprise or included in the law, which can be used for the purpose of implementing or validating compliance—in a separate store for meeting reporting requirements. Compliance software is increasingly being implemented to help companies manage their compliance ...
Adoption of international standards (e.g., ISO 9001 reissued as SS ISO 9001 - Quality management systems – Requirements) Development, with inputs from industry, to meet specific needs of the local economy (e.g. SS 631 - Specification for metal roofing system) Singapore Standards are nationally recognized documents, established by consensus.
The Monetary Authority of Singapore or (MAS), is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance and manages the foreign-exchange reserves .
Know your customer places a costly burden on businesses operating in the financial industry, especially smaller financial companies, where compliance costs are disproportionately heavy. [ 21 ] Customers may feel the information requested to be intrusive and burdensome, and may choose not to enter the business relationship as a result.
As banking regulation focusing on key factors in the financial markets, it forms one of the three components of financial law, the other two being case law and self-regulating market practices. [5] Compliance with bank regulation is ensured by bank supervision.
Private Security Industry Act 2007; Property Tax (Surcharge) (Abolition) Act 2007; Public Service Commission (Amendment) Act 2007; Radiation Protection Act 2007; Secondhand Goods Dealers Act 2007; Singapore Armed Forces (Amendment) Act 2007; Spam Control Act 2007; Statutes (Miscellaneous Amendments) Act 2007; Strategic Goods (Control ...
Financial regulation is a broad set of policies that apply to the financial sector in most jurisdictions, justified by two main features of finance: systemic risk, which implies that the failure of financial firms involves public interest considerations; and information asymmetry, which justifies curbs on freedom of contract in selected areas of financial services, particularly those that ...
Financial and Consumer Services Commission of New Brunswick (FCNB) ; Financial Services Regulatory Authority of Ontario (FSRA) ; British Columbia Financial Services Authority (BCFSA) India: GIFT International Financial Services Centre: International Financial Services Centres Authority (IFSCA) Kazakhstan: Astana International Financial Centre