(Jan 10): The Monetary Authority of Singapore (MAS) is likely to get wider investigative powers, including seizing evidence under proposed legislation.

The bill presented in Parliament on Wednesday will also expand the MAS’ reach to issue directions to capital markets services licence holders that conduct unregulated business, such as offering bitcoin futures.

The regulator’s supervisory and inspection powers will also be enhanced to include the appointment and removal of key persons of market operators, clearing houses and financial advisers.

Under the proposed bill, the MAS will also be able to approve the appointment of agents by foreign regulators to conduct inspection of specified financial institutions.