The MOU will facilitate information sharing, promote joint innovation projects and establish a framework to help fintech firms better understand each market.
The setup cost of the KYC utility exceeds the savings banks would be able to achieve, MAS managing director Ravi Menon told Bloomberg.
Ravi Menon told Bloomberg that MAS is trying to bring banks and crypto startups together to see if an understanding can be reached.
Guidelines allow digital advisers to pass client orders to brokerage firms for execution without the need for an additional capital markets services licence.
Remi Toucheboeuf at BNP Paribas Securities Services sat down with Regulation Asia to talk about new opportunities for fund managers in Hong Kong and Singapore.
Cybersecurity experts on the panel discussed the growing adoption by financial institutions of new technologies such as cloud services and open APIs.
The Variable Capital Company structure is aimed at boosting Singapore’s status as an full-service international fund management centre.
Firms must report OTC derivatives transactions in commodities and equities to a licensed trade repository; DTCC welcomes the MAS' move to improve transparency and reduce risk.
The guidelines establish a common baseline protection from losses arising from isolated unauthorised or erroneous electronic payment transactions.
SEC commissioner Robert Jackson Jr reportedly urged Singapore and Hong Kong to maintain close oversight over companies with dual class share structures to mitigate against corporate governance risks.