Singapore

In a review of collateral management standards and practices banks use when lending to corporates, MAS has identified four key areas that need improvement.

MAS published a draft large exposures framework in early 2018, trying to meet the BCBS timeline for adoption in January 2019. The final rules will now take effect in October next year.

Supported by the MAS and Singapore's major banks, the project seeks​ to help wealth managers address money laundering risks with new AI and machine learning capabilities.

The code was facilitated by MAS and developed in consultation with ABS by ACCESS, the Association of Cryptocurrency Enterprises and Start-ups, Singapore.

Regulators are adopting behavioural science tools pioneered by the Dutch central bank in their supervisory efforts, and firms are taking notice, says Stephen Scott at Starling.

While money launderers and tax evaders have traditionally used offshore companies, some have shifted to onshore companies to evade detection.

Recognising the depth of the challenge posed by the new MAS 610 standard, AxiomSL decided that this industry challenge merited an innovative approach.

MAS and SGX RegCo have released a practice guide outlining five guiding principles for brokers to use in the review and design of their trade surveillance programmes.

At a regulatory briefing on Wednesday, SGX RegCo CEO Tan Boon Gin laid out the work ahead to enhance investor confidence and deter wrongdoing.

Sandbox Express entails an approval process of just 21 days before firms can start testing innovative financial products and services in a pre-determined environment.