Financial Services and Markets Bill

Minister of State Alvin Tan.

Thank you, Leader. Thank you, Mr Speaker. It is a chunky Bill; I am almost at the end.

I was about to say that the MAS regularly reviews its Acts to ensure that the regulation of the financial sector continues to be efficient and effective. It is possible that some of the existing powers in various MAS-administered Acts may be harmonised in the FSM Bill in the future if MAS is of the view that such an approach would enable it to address financial sector-wide risks more effectively. With this, I beg to move, Sir.

Any clarifications?

Question put, and agreed to.

Bill accordingly read a Second time and committed to a Committee of the whole House.

The House immediately resolved itself into a Committee on the Bill. – [Mr Alvin Tan].

Bill considered in Committee; reported without amendment; read a Third time and passed.