The Monetary Authority of Singapore (“MAS“) reporting regime for over-the-counter (“OTC“) derivatives contracts started in 2013, and the enabling provisions are set out in the Securities & Futures (Reporting of Derivatives Contracts) Regulations 2013 (“SF(RDC)R“). Earlier, MAS issued a Consultation Paper setting out several key proposed amendments to the SF(RDC)R, namely: (i) adoption of the sets of Technical Guidance issued by the International Organisation of Securities Commissions respectively on unique transaction identifier (“UTI“), unique product identifier (“UPI“) and other critical data elements (“CDE“); (ii) changes to the reportable data fields under the SF(RDC)R; (iii) implementation timeline of revised requirements; and (iv) adoption of the ISO 20022 XML message format for OTC derivatives reporting to the trade repository.
On 16 May 2023, MAS published its Response to Feedback Received on the Consultation Paper and shared the close-to-final revised SF(RDC)R and the Guidelines to the SF(RDC)R.
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