FIs will be allowed to reopen more customer service locations from 2 June. MAS will take action against FIs that fail to comply with safe management requirements.
The launch is heralded as a major milestone to deepen liquidity and catalyse the growth of the SORA market. StanChart was party to the first cleared derivatives trade referencing SORA.
MAS will regulate payment token derivatives offered by approved exchanges - i.e. SGX Derivatives, APEX, Ice Futures - but will not regulate such products offered by other entities.
Temasek's participation in the Libra Association will allow it to contribute toward a regulated global network for cost effective retail payments.
As a goodwill gesture, SocGen will extend a one-off payment to investors who suffered losses trying to short-sell Singapore Airlines with daily leverage certificates.
Fintechs can apply for a one-time grant to cover daily working capital expenses, or for funding to cover proofs-of-concept developed with financial institutions on APIX.
Falcon Private Bank was forced to shut down its Singapore operations in 2016. Nearly four years later, it has decided to exit private banking in Switzerland.
The MTP rule is described as a "blunt tool" for addressing risk of market manipulation, compared to more effective tools that target such manipulation directly.
Singapore’s High Court has reportedly appointed KPMG executives as interim judicial managers to oversee a transition to new management at ZenRock Commodities, an oil trading firm.
A former Barclays was deceived the bank into paying $10mn from client accounts to settle his personal debts. A further $10mn in Barclays losses came from unauthorised trading.