Part 2:
BACKDOC: NOW THAT THE GLOBAL FEDERAL RESERVE "MAS", HAS NOW ESTABLISHED ITSELF AS THE ASIAN FINANCIAL HUB, THE SILK ROAD IS SOLIDLY ON ITS WAY!
JUST LIKE THE EMPIRE COUNTRIES IS USING TPP AND THE WTO FOR QUALIFICATION AND IMPLEMENTATION FOR FAIR TRADE AND BUSINESS WE SEE OZ SETTING UP THE BLOCKCHAIN, "DIGITAL REALITY" THAT WE SOON WILL ALSO BE ENTERING!
THEY HOPE TO SPUR INNOVATION SO THAT IDEAS CAN GROW, THRIVE, AND PROSPER! TIME WILL TELL HOW THIS WORKS OUT BUT IF CHINA CAN LEARN TO GROW ITS ECONOMY FROM WITHIN NEW DEMAND WILL BE CREATED GLOBALLY!
ALL YELLOW BRICK ROADS NOW LEAD TO "MAS", AS THE NEW DIGITAL PAYMENT SYTEM WILL REPLACE THE SWIFT AS THEY HAVE SHOWN!
THE PARALLEL SYSTEMS ARE BOTH TAKING SHAPE WITH FINANCIAL CONTROL GROWING WITH CHINA BUT POLITICAL CONTROL STILL COMING FROM THE EMPIRE! DOC IMO
....
BACKDOC: NOW THAT THE GLOBAL FEDERAL RESERVE "MAS", HAS NOW ESTABLISHED ITSELF AS THE ASIAN FINANCIAL HUB, THE SILK ROAD IS SOLIDLY ON ITS WAY!
JUST LIKE THE EMPIRE COUNTRIES IS USING TPP AND THE WTO FOR QUALIFICATION AND IMPLEMENTATION FOR FAIR TRADE AND BUSINESS WE SEE OZ SETTING UP THE BLOCKCHAIN, "DIGITAL REALITY" THAT WE SOON WILL ALSO BE ENTERING!
THEY HOPE TO SPUR INNOVATION SO THAT IDEAS CAN GROW, THRIVE, AND PROSPER! TIME WILL TELL HOW THIS WORKS OUT BUT IF CHINA CAN LEARN TO GROW ITS ECONOMY FROM WITHIN NEW DEMAND WILL BE CREATED GLOBALLY!
ALL YELLOW BRICK ROADS NOW LEAD TO "MAS", AS THE NEW DIGITAL PAYMENT SYTEM WILL REPLACE THE SWIFT AS THEY HAVE SHOWN!
THE PARALLEL SYSTEMS ARE BOTH TAKING SHAPE WITH FINANCIAL CONTROL GROWING WITH CHINA BUT POLITICAL CONTROL STILL COMING FROM THE EMPIRE! DOC IMO
....
Mountinman: Here we go DIGITAL to the Headquarters of 12/1=the NEW LAND of OZ........{ALL} REGULATORY Laws are Under Way will Continue from HERE=SINGAPORE......Look for More COUNTRIES to TRAVEL and Move Into these NEW WATERS......Indeed...IMO
Blessings,Mountainman (8)=New Beginnings.......for DIGITAL REGULATIONS and AGREEMENTS.......SINGAPORE STYLE......Yup.....
Thunderhawk: Pay careful attention to this article.... OZ HAS SPOKEN
SINGAPORE: Regulator pens landmark agreement with MAS
ASIC has reaffirmed its commitment to fintech innovation in Australia with a historic agreement with the Monetary Authority of Singapore (MAS) to nurture local innovative businesses in a bid to improve scalability and reduce regulatory uncertainty for local start-ups.
The announcement comes just over a week after ASIC revealed its plans to cultivate a regulatory “sandbox” environment for fintechs, proposing a new limited licensing exemption to allow start-ups to test their financial services for a period of six months. At a recent Stone and Chalk masterclass event, MAS chief fintech officer Sopnendu Mohanty spoke of the promise afforded by the agreement, arguing the MAS had embarked on several development initiatives to create a vibrant ecosystem for innovation and the adoption of new technologies.
“This agreement between the MAS and ASIC would create opportunities for fintech businesses from Singapore and Australia to grow and expand into each other’s markets,” he said. “Singapore has a vibrant fintech ecosystem, reinforced by sound infrastructure and a growing talent pool, to support companies intending to use Singapore as a gateway to other markets in Asia.”
Fintech businesses will need to meet a pre-determined set of eligibility criteria established by their home regulator to qualify for the support offered by the agreement. Once referred by the respective regulator, the business will be given the opportunity to learn more about the regulatory framework in the market they wish to join, before applying for a licence to operate in the new market.
ASIC chairman Greg Medcraft said the corporate regulator had received an outpouring of support and requests for assistance from fintech start-ups looking to better understand their regulatory requirements after the launch of ASIC’s Innovation Hub last year.
“We recognise that innovation in financial services isn’t confined by national borders,” Medcraft said. “We believe this agreement with the MAS will help break down barriers to entry both here and in Singapore.”
Tyro fintech hub chief executive Jost Stollmann said a cohesive digital ecosystem was needed for Australian fintech start-ups to thrive and for new ideas to grow and prosper. “Australia needs to make itself fintech friendly if it wants to set itself up for the next generation of economic growth,” he said. “If it does, Australia could become the fintech hub of Asia, servicing a market of more than three billion people, including a rampant Chinese economy.”
Mohanty confirmed MAS will look to partner with ASIC on a variety of joint innovation projects involving the application of key technologies such as digital and mobile payments, blockchain, big data and application programming interfaces.
http://www.financialobserver.com.au/articles/regulator-pens-landmark-agreement-with-mas?A=WebApp&CCID=19079&Page=4&Items=6
**************
BACKOC: SLAP MCFLY!
LIKE THUNDER AND I HAVE TOLD YOU, NOW IT'S RIGHT HERE FOR YOU IN INK! WELCOME TO OZ LAND!
WITH THE CURTAIN PULLED I DOUBT WE WILL BE WAITING FOR DORTHY TO CLICK HER HEELS! HEE HEE
ONCE WE ARE PAST THE BREXIT I HOPE IT WILL BE GAME ON INTO THE TRANSITION!
THE TRANSITION FROM FOREX VALUE TO THE NEW REALITY VALUE COMPLETE BY OCTOBER WHEN CHINA IS FULLY INTEGRATED!
NICE WORK THUNDER! CONGRATS TO BRINGING REALITY TO THE FAMILY! DOC IMO
Thunderhawk: MAS to raise stakes with dedicated department to counter money laundering
The Monetary Authority of Singapore (MAS) is setting up dedicated departments to combat money laundering and strengthen enforcement respectively. The changes will take effect on 1 August 2016.
The regulator understands that Singapore’s position as a global financial center is a double edge sword – meaning it can be used as a conduit for money laundering and terrorist financing activities. According to the MAS the increasing complexities of transnational flows necessitates heightened supervisory focus on combatting money laundering and other illicit financing activities.
The new dedicated anti money laundering (AML) Department will streamline the existing responsibilities for regulatory policies relating to money laundering and other illicit financing risks. The team will monitor these risks and carry out onsite supervision of how financial institutions manage these risks.
The regulator will arm the new department with powers necessary to conduct rigorous investigations of suspected violations and misdemeanors and to take swift actions to establish culpability and punish as appropriate the institutions or individuals who have breached MAS’ regulations.
Recognizing that deterrents are only as effective as the ability to enforce these the MAS will centralize and strengthen its enforcement functions under a new Enforcement Department. Working in tandem with the Commercial Affairs Department and be responsible for enforcement actions arising from regulatory breaches of MAS’ banking, insurance and capital markets regulations.
Ravi Menon Managing Director of MAS, said, "As our financial center grows in scale, sophistication, and connectivity, so does the risk of criminal elements abusing our financial system. We will strengthen our supervision of financial institutions’ controls to combat money laundering and illicit financing. And we will enhance our enforcement capability to deter poor controls or criminal behavior in the industry.”
http://ift.tt/1UhWEly
Blessings,Mountainman (8)=New Beginnings.......for DIGITAL REGULATIONS and AGREEMENTS.......SINGAPORE STYLE......Yup.....
Thunderhawk: Pay careful attention to this article.... OZ HAS SPOKEN
SINGAPORE: Regulator pens landmark agreement with MAS
ASIC has reaffirmed its commitment to fintech innovation in Australia with a historic agreement with the Monetary Authority of Singapore (MAS) to nurture local innovative businesses in a bid to improve scalability and reduce regulatory uncertainty for local start-ups.
The announcement comes just over a week after ASIC revealed its plans to cultivate a regulatory “sandbox” environment for fintechs, proposing a new limited licensing exemption to allow start-ups to test their financial services for a period of six months. At a recent Stone and Chalk masterclass event, MAS chief fintech officer Sopnendu Mohanty spoke of the promise afforded by the agreement, arguing the MAS had embarked on several development initiatives to create a vibrant ecosystem for innovation and the adoption of new technologies.
“This agreement between the MAS and ASIC would create opportunities for fintech businesses from Singapore and Australia to grow and expand into each other’s markets,” he said. “Singapore has a vibrant fintech ecosystem, reinforced by sound infrastructure and a growing talent pool, to support companies intending to use Singapore as a gateway to other markets in Asia.”
Fintech businesses will need to meet a pre-determined set of eligibility criteria established by their home regulator to qualify for the support offered by the agreement. Once referred by the respective regulator, the business will be given the opportunity to learn more about the regulatory framework in the market they wish to join, before applying for a licence to operate in the new market.
ASIC chairman Greg Medcraft said the corporate regulator had received an outpouring of support and requests for assistance from fintech start-ups looking to better understand their regulatory requirements after the launch of ASIC’s Innovation Hub last year.
“We recognise that innovation in financial services isn’t confined by national borders,” Medcraft said. “We believe this agreement with the MAS will help break down barriers to entry both here and in Singapore.”
Tyro fintech hub chief executive Jost Stollmann said a cohesive digital ecosystem was needed for Australian fintech start-ups to thrive and for new ideas to grow and prosper. “Australia needs to make itself fintech friendly if it wants to set itself up for the next generation of economic growth,” he said. “If it does, Australia could become the fintech hub of Asia, servicing a market of more than three billion people, including a rampant Chinese economy.”
Mohanty confirmed MAS will look to partner with ASIC on a variety of joint innovation projects involving the application of key technologies such as digital and mobile payments, blockchain, big data and application programming interfaces.
http://www.financialobserver.com.au/articles/regulator-pens-landmark-agreement-with-mas?A=WebApp&CCID=19079&Page=4&Items=6
**************
BACKOC: SLAP MCFLY!
LIKE THUNDER AND I HAVE TOLD YOU, NOW IT'S RIGHT HERE FOR YOU IN INK! WELCOME TO OZ LAND!
WITH THE CURTAIN PULLED I DOUBT WE WILL BE WAITING FOR DORTHY TO CLICK HER HEELS! HEE HEE
ONCE WE ARE PAST THE BREXIT I HOPE IT WILL BE GAME ON INTO THE TRANSITION!
THE TRANSITION FROM FOREX VALUE TO THE NEW REALITY VALUE COMPLETE BY OCTOBER WHEN CHINA IS FULLY INTEGRATED!
NICE WORK THUNDER! CONGRATS TO BRINGING REALITY TO THE FAMILY! DOC IMO
Thunderhawk: MAS to raise stakes with dedicated department to counter money laundering
The Monetary Authority of Singapore (MAS) is setting up dedicated departments to combat money laundering and strengthen enforcement respectively. The changes will take effect on 1 August 2016.
The regulator understands that Singapore’s position as a global financial center is a double edge sword – meaning it can be used as a conduit for money laundering and terrorist financing activities. According to the MAS the increasing complexities of transnational flows necessitates heightened supervisory focus on combatting money laundering and other illicit financing activities.
The new dedicated anti money laundering (AML) Department will streamline the existing responsibilities for regulatory policies relating to money laundering and other illicit financing risks. The team will monitor these risks and carry out onsite supervision of how financial institutions manage these risks.
The regulator will arm the new department with powers necessary to conduct rigorous investigations of suspected violations and misdemeanors and to take swift actions to establish culpability and punish as appropriate the institutions or individuals who have breached MAS’ regulations.
Recognizing that deterrents are only as effective as the ability to enforce these the MAS will centralize and strengthen its enforcement functions under a new Enforcement Department. Working in tandem with the Commercial Affairs Department and be responsible for enforcement actions arising from regulatory breaches of MAS’ banking, insurance and capital markets regulations.
Ravi Menon Managing Director of MAS, said, "As our financial center grows in scale, sophistication, and connectivity, so does the risk of criminal elements abusing our financial system. We will strengthen our supervision of financial institutions’ controls to combat money laundering and illicit financing. And we will enhance our enforcement capability to deter poor controls or criminal behavior in the industry.”
http://ift.tt/1UhWEly
Mountainman: Yes Indeed.....VIETNAM is READY SET GO.......Their GDP will be ONE for the HISTORY BOOKS as to Preparation and the Ability toExecute w/out Stupidity and Red Tape of RESTRICTIONS or an INEPT Group of "LEADERS" so called who behave like Pre-Schoolers.....
LOOK OUT for Vietnam is ONE to be Reckoned with.....this Council is to RUN the TEAMS BUSINESS/OFFENSE w/Precision.....IMO
Blessings,Mountainman (8)=New Beginnings.......for...... VIETNAM (WHERE) Have You Been {ALL} My LIFE......
Thunderhawk: VIETNAM: Finance, money policy consultation council set up finance, money policy consultation council set up
The Prime Minister has signed a decision to establish a 39-member National Financial and Monetary Policy Consultation Council led by Deputy Prime Minister Vuong Dinh Hue.
Governor of the State Bank of Vietnam Le Minh Hung has been named permanent vice president of the council, while Minister of Finance Dinh Tien Dung and Chairman of the National Financial Supervisory Committee Vu Viet Ngoan serve as other vice presidents of the council.
The consultation council is assigned with the tasks of discussing and proposing recommendations to the Government and the PM regarding big guidelines, policies and projects as well as important issues in the field of finance and money.
In addition, the council is responsible for consulting with the Government and the PM on deciding financial and monetary policies and plans in each period, as well as on the management measures of the Government to effectively fulfill the decided policies and plans.
It will also give consultations about other issues relating to implementation of financial and monetary policies when assigned by the PM.
The council will operate on the principle of consultation and in line with its regulations stipulated by the PM.
http://ift.tt/28JLgk5
LOOK OUT for Vietnam is ONE to be Reckoned with.....this Council is to RUN the TEAMS BUSINESS/OFFENSE w/Precision.....IMO
Blessings,Mountainman (8)=New Beginnings.......for...... VIETNAM (WHERE) Have You Been {ALL} My LIFE......
Thunderhawk: VIETNAM: Finance, money policy consultation council set up finance, money policy consultation council set up
The Prime Minister has signed a decision to establish a 39-member National Financial and Monetary Policy Consultation Council led by Deputy Prime Minister Vuong Dinh Hue.
Governor of the State Bank of Vietnam Le Minh Hung has been named permanent vice president of the council, while Minister of Finance Dinh Tien Dung and Chairman of the National Financial Supervisory Committee Vu Viet Ngoan serve as other vice presidents of the council.
The consultation council is assigned with the tasks of discussing and proposing recommendations to the Government and the PM regarding big guidelines, policies and projects as well as important issues in the field of finance and money.
In addition, the council is responsible for consulting with the Government and the PM on deciding financial and monetary policies and plans in each period, as well as on the management measures of the Government to effectively fulfill the decided policies and plans.
It will also give consultations about other issues relating to implementation of financial and monetary policies when assigned by the PM.
The council will operate on the principle of consultation and in line with its regulations stipulated by the PM.
http://ift.tt/28JLgk5
via Dinar Recaps - Our Blog http://www.dinarrecaps.com/our-blog/backdoc-thunderhawk-mountainman-monday-am-part-21945393
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