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.
ZenRock is the latest Singapore commodities trader to come under scrutiny, for allegedly using the same cargo to secure financing from multiple banks.
DBS has priced the first floating-rate notes referencing SORA, identified last August as Singapore's alternative interest rate benchmark to SOR.
Electronic dissemination will enable rights issues and takeover or merger transactions to take place while reducing the need for staff to be physically present at workplaces.
ACRA says the two-month deferral is the result of operational and resource constraints faced by registered filing agents, and potential difficulties obtaining consent from clients.
The partnership will seek to promote Singapore’s capital market development, strengthen regional connectivity, support businesses, and explore the use of DLT in bond issuance.
This second package of measures is aimed at helping individuals ease their cashflow burden, reduce debt, and ensure access to basic banking services.