Author: Peiying Chua Heikes

New Financial Services and Markets Bill

The new omnibus Financial Services and Markets Bill 2022 was moved for the First Reading in the Singapore Parliament on 14 February 2022. The FSM Bill harmonises existing provisions that apply across various classes of financial institutions, and provides for sector-wide regulation of financial services and markets.

By expanding the MAS’ authority and powers, we envisage that the FSM Bill will have a substantial impact on the Singapore’s financial sector.