Handbook of Policy and Procedures
This page covers:
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.
Current Regulatory Handbook and Related Documents
Regulatory Handbook - Volume 1 March 2011
Regulatory Handbook Appendices
Enforcement Manual June 2006
Procedure - Complaints Against the Authority
Procedure - Assessing Controller Costs
Template - Assessing Controller Costs
Publication of Enforcement Actions taken by the Authority
Procedure Mutual Funds and Mutual Fund Administrators Where Contact is Lost
Procedure Issuing Notices of Decisions to Declined Applicants
Procedure-Approval and Notification of Changes-Class B Insurers
Regulatory Policy - Recognition and Approval of Actuaries under the Insurance Law (2004 Revision)
Regulatory Policy - Approval of Trusts pursuant to Section 7(1) Insurance Law
Regulatory Policy - Exemption from Audit Requirement for a Regulated Mutual Fund
Regulatory Policy - Licensing Banks
Regulatory Policy - Approved Stock Exchanges