The Monetary Authority of Singapore (MAS) has introduced guidelines to make public consultation a standard procedure whenever significant changes in the financial services regulatory framework are planned. Over time, these changes will further improve the operating environment for the financial sector. The MAS will release further details.
Conclusion Singapore has not shied away from tough measures to remake our economy and maximise our chances in a difficult environment. These measures will enhance our competitiveness, strengthen our companies and consolidate our social cohesion. They will make our economy more flexible, resilient and able to adjust quickly to changing circumstances, and so help it to remain ahead in the race of nations.