Singapore firms face January misconduct-reporting system switch after MAS issues two templates

The Monetary Authority of Singapore published misconduct-report and investigation-report templates on 30 September to help financial institutions prepare for revised reporting requirements from 1 January 2027. The templates set out information to be entered into web forms in the replacement Misconduct Reporting System, or MRS.[1][4]

The circular covers licensed and exempt financial advisers, holders of Capital Markets Services licences and exempt CMS entities, registered and exempt insurance brokers, and licensed direct insurers. It links the templates to notices FAA-N27, MAS 508 and SFA 04-N24. Institutions need to use the notice applicable to their business and representatives.[4]

Preserving records before the system changes

MAS’s earlier circular, dated 24 August, says the existing MRS will be replaced on 1 January 2027. Institutions that want to retain copies of submissions in the old system should download and save them before that date, because access will then end. MAS also encourages firms to retain copies when submitting reports.[3]

Preparing the reporting workflow

The distinction between a report template and a filing channel matters. The September documents help firms gather the required information in advance; they do not establish that completed template files replace the new system’s web forms. A practical preparation task is to map existing investigation records to the required information and retain a copy of the final submission.[4][3]

Firms with cases continuing across the cutover also need their earlier submissions available for reference. MAS explicitly allows later updates through the new MRS, so the transition does not require treating an existing matter as a wholly new incident merely because the filing system changes. The revised notices and FAQs govern the underlying reporting requirements.[3][2]

For institutions, the immediate dates are the end of legacy access and commencement of the new framework. The public circulars do not describe automatic migration of a firm’s internal case-management software; preparing records and access arrangements remains an institution-level implementation task.[4][3]

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