The legally binding cyber hygiene requirements must be implemented by all MAS regulated financial institutions by 6 August 2020.
The so-called ‘NSE IFSC-SGX Connect’ is set to become operational by end-2020, ending a dispute between the two exchanges.
Capital market licensees will have to record all client communications and capture their mobile device IDs. Foreign intermediaries will have to provide UBO information on request.
The updated guide offers best practices to ensure resiliency and recoverability while maximising the benefits FIs derive from cloud outsourcing arrangements, including for 'critical systems'.
A JD Power survey has found that 65% of Singapore customers are interested in opening digital bank accounts. The survey ranked HSBC first, OCBC second and DBS third in customer satisfaction.
The European Commission has adopted equivalence decisions for Australian and Singapore financial benchmarks, but repealed existing equivalence for credit rating agencies.
The MAS is seeking feedback on proposed subsidiary legislation relating to the insolvency and winding up of a VCC and its sub-funds.
The Singapore Fintech Association will leverage its network to promote the APIX platform to fintech firms worldwide, while AFIN connects banks with fintechs through the platform.
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.
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