The Monetary Authority of Singapore (MAS) provides regulatory services in Singapore, while overseeing the functioning of banking, finance, and insurance businesses, including brokerages or securities dealers. Forex brokers are licensed as clearing members of the Singapore Exchange.
Singapore is on a par with Hong Kong and Australian finance centres when it comes to dominating the business in the South-East Asian region. Even though, for now, local business is not very significant, Singapore will grow in importance, mainly due to its liberal taxation and regulation regime.
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