s 10B Public disclosure requirement
10B.—(1) For the purposes of enhancing market discipline, the Authority may, by written notice to a bank in Singapore or a class of banks in Singapore, require —(a) the bank or each bank in the class to disclose to the public, in the form and manner specified by the Authority, any information relating to its operations and activities, and the manner it complies with any provision of this Act or a notice or direction issued under this Act; or (b) the bank or each bank in the class, if incorporated in Singapore, to disclose to the public, in the form and manner specified by the Authority, any information relating to the operations and activities of any entity in its bank group within the meaning of section 48AA.[5/2016] (2) Without limiting subsection (1), a notice under that subsection may require a bank to disclose one or more of the following information of the bank or an entity in the bank group of the bank (as the case may be):(a) its risk profile and risk management process; (b) aspects of its corporate governance; (c) its capital adequacy, including various components used to calculate its capital adequacy; (d) its leverage ratio; (e) the manner it complies with any requirement imposed on it under section 10C or 38 (if applicable); (f) the aggregation of —(i) its assets, liabilities, profits or losses, and any other information whether or not on its balance sheet; and (ii) the assets, liabilities, profits or losses, and any other information whether or not on the balance sheet or balance sheets, of all or any of its related corporations, and the entities in which it holds, directly or indirectly, a major stake as defined in section 32(7).[5/2016; 1/2020] (3) Any bank which fails to comply with a notice under subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $250,000 and, in the case of a continuing offence, to a further fine not exceeding $25,000 for every day or part of a day during which the offence continues after conviction.[5/2016] (4) Any bank which, in purported compliance with a notice under subsection (1), provides to the public any information, knowing or reckless that the information is false or misleading in a material particular, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $250,000.[5/2016] (5) Where a bank is guilty of an offence under subsection (3) or (4), any individual charged with the duty of securing the bank’s compliance with the notice and was in the position to discharge that duty, shall also be guilty of an offence and shall be liable on conviction —(a) if the individual committed the offence wilfully, to a fine not exceeding $125,000 or to imprisonment for a term not exceeding 3 years or to both; or (b) if the individual did not commit the offence wilfully, to a fine not exceeding $125,000.[5/2016]