Futures | Commodities | Forex
Revised unsecured credit rules
Posted by Felix Shipkevich on Feb 25, 2009 Posted by Felix Shipkevich on Feb 25, 2009 in Singapore MAS | 0 comments
MAS will implement revised measures to further mitigate the risks of over-borrowing by individuals. It is a matter of social policy in Singapore that individuals be limited in the amount they can barrow based upon their income and age. Financial institutions are responsible for upholding these limits and...New security deposit requirements cap leverage
Posted by Felix Shipkevich on Feb 23, 2009 Posted by Felix Shipkevich on Feb 23, 2009 in Forex, NFA Amendments, NFA Proposals, NFA Regulations | 0 comments
FDMs must collect security deposits of 1% of notional value on major currency pairs and 4% on other currency pairs. FDMs that maintain 150% of their capital requirement will be exempted. The Interpretive Notice cites customer safety as a reason for the leverage restrictions. It also notes that the new...New capital requirements for FDMs
Posted by Felix Shipkevich on Feb 23, 2009 Posted by Felix Shipkevich on Feb 23, 2009 in Forex, NFA Amendments, NFA Proposals, NFA Regulations | 0 comments
In addition to the $20 million required by the CFTC Reauthorization Act of 2008, FDMs with over $10 million in customer liabilities and will be subject to capital requirements that take into account their total liabilities. FDMs that execute customer transactions exclusively via STP will be exempted. In...MAS Signs MoU with BaFin
Posted by Felix Shipkevich on Feb 10, 2009 Posted by Felix Shipkevich on Feb 10, 2009 in Singapore MAS | 0 comments
The Monetary Authority of Singapore has signed a Memorandum of Understanding with the BaFin, the German financial supervisory authority, which provides a formal basis for information sharing and supervisory...
