Fraud, Scams & Cybercrime

SG Police Investigate Over 300 Individuals in Cases of Scams

31/03/2021

The suspects are being investigated for the offences of cheating, money laundering or providing payment services without a licence.

Anti-Money Laundering

AUSTRAC Publishes Regulatory Guides on Strengthen AML Controls

31/03/2021

The regulatory gives cover governance, risk assessments, customer due diligence, IFTIs reporting, and correspondent banking relationships.

Structural Regulation

Japan Plans to Retain Yen TIBOR, Discontinue Euroyen TIBOR

31/03/2021

JBA TIBOR Administration plans to consult on its intent to retain yen TIBOR and discontinue euroyen TIBOR at end-2024, as well as the specifics and timing of the reform.

Reporting & Disclosures

IOSCO Forms Working Group to Aid IFRS Sustainability Project

31/03/2021

The MAS and US SEC will co-lead the new technical working group, which will help develop technical recommendations needed for new sustainability reporting standards.

PEPs & Sanctions

China Sanctions UK, US, Canadian Individuals and Entities

30/03/2021

The sanctions follow coordinated action by the US, EU, UK and Canada last week to sanction Chinese officials and entities over Xinjiang.

Market Data & Technology

DSB Seeks Provider of OTC Derivatives Reference Data for UPI

29/03/2021

Underlier identifiers representing the instrument, index, or reference rate for an OTC derivative are attributes used to define a UPI.

Trading & Investment

ARRC Publishes Guidance on Swap Rate, Business Loans, ABS

29/03/2021

The ARRC has published a formula to calculate fallbacks from the USD LIBOR ICE Swap Rate, simplified fallback language for business loans, and a model for using SOFR in ABS products.

Structural Regulation

BNM Shariah Advisory Council Rules RFRs Permissible

29/03/2021

The ruling was made based on the justification that the compounding methodology is “merely an arithmetic method” and does not affect compliance with Shariah requirements.

Fraud, Scams & Cybercrime

SG Police to Lay 23 More Charges Against Hin Leong Founder

29/03/2021

The new charges could not be tendered against Lim Oon Kuin on Monday because the 78-year-old said he was unwell.