28 February 2024

On 24 January 2024, the Monetary Authority of Singapore (“MAS”) announced that it will be launching the Monetary Authority of Singapore - Financial Institutions Transactions Platform, or MAS-Tx, for insurers on 26 February 2024. 

From 26 February 2024 onwards, regulatory applications, notifications, and submissions that were previously submitted to MAS via email and FormSG should be submitted directly via MAS-Tx, unless stated otherwise. The compliance toolkits will be updated to reflect the change in default mode of submissions and the relevant MAS-Tx category of each submission. 

MAS also said that MAS-Tx will fully replace the incumbent MASNET portal by the end of 2024. In the meantime, financial institutions should continue to maintain their MASNET accounts to facilitate ongoing MASNET-related transactions. 

Reference materials 

The MAS circular on this development is available on the MAS website www.mas.gov.sg.