Singapore: Monetary Authority Consults on Review of the Recognised Market Operators Regime

On May 22, 2018 the Monetary Authority of Singapore (MAS) published a consultation paper on reviewing the recognised market operators (RMO) regime, which proposes to amend the regime that has been in place since 2002 to ensure it continues to meet the demands of the changing landscape.

According to the document, the MAS has observed the emergence of new business models in trading platforms, including trading facilities that make use of blockchain technology, or platforms that allow peer-to-peer (P2P) trading without the involvement of intermediaries.

MAS seeks to change the single-tier regime to one with three tiers:

"(a) RMO Tier 1;

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