Many non-EU benchmarks won't qualify under BMR in time for 31 December 2023, disproportionately impacting Asia exposures.
The iPay88 breach will be raised in a Cabinet meeting to discuss a proposal to establish a Royal Commission of Inquiry to investigate the incident.
The companies cited the small trading volume of their shares in New York, without mentioning any ongoing disputes between US and Chinese authorities.
Starting from 1 September, new VASP licence applications will only be entertained if they come from existing BSP-supervised financial institutions.
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