Handbook of Policy and Procedures

This page covers:

What is the Regulatory Handbook
Definition of Policy and Procedure
Updates and Availability
Current Regulatory Handbook and Related Documents

What is the Regulatory Handbook

The Monetary Authority's Regulatory Handbook is issued under section 48 of the Monetary Authority Law (2010 Revision). It sets out the policies and procedures to be followed by the Monetary Authority, its committees, and officers in performing the Authority's regulatory and co-operative functions. The handbook provides a practical guide to the operations of the Monetary Authority and reflects transparency and accountability in the way the Monetary Authority regulates and makes decisions.

The handbook details the structure and responsibilities of the Board of Directors and the Management Committee, the relationships that the Monetary Authority has with external bodies, and specific information on matters such as the supervisory approach, supervisory returns, and anti-money laundering procedures.

Definition of Policy and Procedure

The following definitions have been adopted for the creation of new measures:

"Regulatory Policy " ("RPy")

A set of principles, a criteria, or approach to guide decisions and actions taken by the Authority in performing its regulatory and co-operative functions.

"Regulatory Procedure " ("RPr")

A set of actions, activities or tasks that the Authority will carry out in performing its regulatory and co-operative functions.

Updates and Availability

Given the dynamic nature of the financial services industry and the constant changes facing the Monetary Authority the handbook is subject to on-going review and revision. All revisions are gazetted and posted on the website. Hard copies of the handbook are available upon request from the Monetary Authority for a nominal fee.