IPO subscription applications are being rejected because funds are not being blocked, with some investors "gaming" the system.
Advisers will have to provide customers with suitable product options from at least three different providers for each class of insurance or takaful business being recommended.
The RBNZ will design a framework so that debt-to-income restrictions on mortgage lending are ready to be used by mid-2023, if needed.
Large exposures are defined as exposures equal to or higher than 10 percent of the Tier 1 capital, double the previous 5 percent threshold.
A review of OCBC's anti-fraud systems and procedures concluded that the bank should take a more "integrated approach" to combat fraud and scams.
Regulated entities looking to launch crypto-asset-related operations should consult their supervisor first. A longer-term prudential framework is being developed.
The approval marks the first time that a newcomer to the insurance industry has been given permission to start a digital insurance company.
Commercial banks with past digital banking experience can open new digital banking units without having to seek authorisation from the RBI.
In a new report, the EBA outlines findings from its second round of assessment of the approaches AML/CFT supervisors are using in the banking sector.
Two new papers have been published to help Singapore's insurance industry in elevating their culture and conduct standards.