The latest monitoring exercise indicates that all banks are meeting CET1 and LCR requirements, but that the biggest banks' capital ratios have fallen for the first time.
The inaugural enforcement report reveals that MAS issued S$16.8mn in financial penalties and S$698,000 in civil penalties over 18 months.
The SFC has extended the deadline for compliance with new rules requiring firms to ensure client suitability when selling complex products by two months.
“The sanctions send a strong and clear message to the market that we will not hesitate to hold errant sponsors accountable for their misconduct,” said SFC chief Ashley Alder.
JPX-TOCOM Merger Agreement Expected by End-MarchMarch 22, 2019
S. Korea FSS’ Integrity Questioned in Local ReportMarch 22, 2019
Singapore Court Issues First Jail Sentence for 2013 Penny Stock CrashMarch 22, 2019
UK FCA Fines UBS for MiFID Transaction Reporting FailuresMarch 22, 2019
ISDA Publishes Full Version of Derivatives Lifecycle BlueprintMarch 22, 2019
SFC Orders Brokers to Freeze Client Assets in Market Manipulation CaseMarch 22, 2019
Indian Billionaire Arrested in London over $2bn Bank FraudMarch 22, 2019
SEBI Consults on Adoption of Dual Class Share StructuresMarch 22, 2019
RBA’s Kent Urges Continued Preparation for the End of LIBORMarch 21, 2019
Basel III Monitoring Reveals Fall in Big Banks’ Capital RatiosMarch 21, 2019