Penalties are being raised for AML/CTF offences and failures to file suspicious transaction reports, while Singapore also expands on its arrangements with foreign FIUs.
A joint report from the FSB, BCBS, CPMI and IOSCO confirms earlier findings that some aspects of post-GFC reform may not incentivise central clearing of OTC derivatives.
The central banks of Singapore, Canada and England jointly released a report discussing emerging opportunities for digital transformation in cross-border payments.
The Bill aims to provide a more conducive environment for innovation in payment services, while ensuring that risks across the payments value chain are mitigated.
The FMA expects banks to change sales-linked incentives, or explain how they will strengthen controls to address the risk of inappropriate sales.
The APG was reportedly impressed by Taiwan's performance during its third round of mutual evaluations, which concluded last week.
The FSB notes progress to strengthen major IBORs and identify RFRs and other alternative reference rates, highlighting actions taken in Australia, Hong Kong and Singapore.
The regulator wants to streamline the application and approval process for regulated activities where risks are generally low or well understood and could be reasonably contained.
Among several other enhancements, moving from a T+3 to a T+2 settlement cycle will harmonise Singapore with stock markets in Australia, the EU, Hong Kong and the US.
MAS managing director Ravi Menon announced the release of the Fairness, Ethics, Accountability & Transparency, or FEAT, Principles at the Singapore Fintech Festival.