ACCC Issues Paper Seeks View on Banks’ Rate-setting Practices

24/04/2023

ACCC chair says the inquiry will closely examine how banks make decisions on interest rates and any barriers consumers face in getting a better deal.

Enforcement

19 Year Old Pleads Guilty for Involvement in OCBC Phishing Scams

24/04/2023

The youth is the sixth individual to be convicted among those accused of being involved in phishing scams.

ESG / Sustainability

Singapore, China Deepen Collaboration on Green Finance

24/04/2023

MAS-PBOC green finance taskforce will work on taxonomy interoperability, the sustainability bond market, and digital green bonds.

Enforcement

Singapore Jails Stock Trader for False Trading Offences

23/04/2023

The trader used 14 trading accounts to create a false appearance of active trading in the market for shares in KTL Global.

AML / KYC

ChatGPT Could ‘Turbocharge’ Fraud and Scams: US FTC Chair

23/04/2023

The FTC plans to use existing authorities to pursue companies who misuse AI to violate laws against unfair and deceptive acts.

Market Infrastructure

FSC Korea Seeks Reforms on Performance-based Pay

23/04/2023

The reforms include expanding the use of malus and clawback of deferred pay and requiring disclosures of the amounts paid to individual executives.

Securities / Derivatives

Singapore to Revert to Physical General Meetings in July

23/04/2023

Listed companies will have to hold general meetings at a physical space in Singapore, but they may also use virtual meeting technology to allow remote participation.

Capital / Liquidity

Credit Suisse AT1 Bondholders File Suit Against FINMA

22/04/2023

Investors representing over $5bn of Credit Suisse AT1 bonds are seeking redress for the losses they suffered during the takeover by UBS.

Fintech / Regtech

DBS Formed a Special Committee to Oversee Probe into March Outage

22/04/2023

Senior minister said the November 2021 and March 2023 incidents at DBS appear unrelated, but that the bank’s new special committee will determine if there are “common underlying weaknesses”.