All cross-border payments in the trial, which involved 17 banks across 7 countries, settled end-to-end within 25 seconds. SWIFT gpi has also now been introduced for corporates.
Two suspects are believed to have directly carried out unlicensed moneylending, while 94 provided them access to bank accounts to facilitate their activities.
The IMF says Singapore's financial system would continue to be resilient even under very adverse scenarios, but that foreign currency liquidity risk needs to be addressed.
Following Hong Kong's extradition bill protests, wealth managers and private banks have seen increased queries from clients looking to set up channels to move assets to Singapore.
SGX already uses dynamic circuit breakers during continuous trading, but there is currently nothing similar used during the opening, mid-day and closing auctions.
The MAS has commenced a review of the disciplinary frameworks at financial advisory firms, with a view to eventually sharing best practices and developing further guidance.
The upgrade standardises and unifies SGX's operations, messaging and data infrastructure, enabling greater flexibility, speed and cost-efficiency when launching new products and services.
Backed by SGX and licensed by MAS, 1exchange takes private companies' shares and puts them into an SPV to back digital tokens that can then be listed and traded by investors.
OCBC Bank and the Singapore Police Force are collaborating on a new project to reduce the amount of time it takes for investigators to access banking information to just 1-2 days.
The new rules require exit offers in conjunction with voluntary delistings to be both "reasonable" and "fair", and exclude the offeror and concert parties from the shareholder vote.