Up to 70 VCCs have already been launched in Singapore, many by small and boutique funds or local family offices. But a much larger wave of companies is on its way.
Increasingly, leaders along all Three Lines of Defence are being held personally accountable for misconduct that takes place on their watch, says Stephen Scott at Starling.
Financial institutions have the freedom to decide on any combination of methods to identify and verify customers through e-KYC, but prior BNM approval is required.
The revised timetable accounts for Covid-19 related disruptions, accommodates functionality changes, and provides more time to ensure user readiness.
India has banned 59 of China’s biggest mobile phone apps including TikTok and WeChat, saying they breach data privacy requirements and threaten the country’s security.
Once the acute illiquidity phase of the crisis passes and insolvency problems emerge, the onus of crisis management will shift from central banks to fiscal authorities.
The Plenary discussed progress on virtual assets, stablecoins, illegal wildlife trade, and work on an enhanced framework for mutual evaluations and follow-up.
A legislative notice has been posted in the Hong Kong gazette, saying the national law applies in the city as part of the Basic Law from 11pm on 30 June 2020.
The acquisition will bring together two growing and mutually-reinforcing pools of liquidity, and allow SGX to further expand into the global FX OTC market.
The latest amendment allows banks to invest in venture capital and credit funds and reduces the amount of capital they have to set aside against inter-affiliate swap trades.