Singapore Payment Services Act 2019
Part 2 Division 2: Conduct of business (all licensees) – Singapore Payment Services Act 2019

Singapore Payment Services Act 2019 S15: Notify MAS of proceedings, disruptions, insolvency risk, other regulators' action and board changes

A licensee must tell MAS as soon as practicable of civil or criminal proceedings against it anywhere, any event (including an operational irregularity) that materially impedes its operations, actual or likely insolvency or inability to meet obligations, disciplinary action or significant regulatory change by another regulator, and other prescribed events; and within 14 days of a change of director or CEO not needing prior approval. Fines up to $250,000.

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