Singapore

SGX's adoption of SWIFT's CSD Community Offering for financial messaging is expected to reduce messaging costs by 50% for smaller market participants.

The law represents a framework to streamline payment services regulation in Singapore under a single legislation and bring payment activities under the remit of the MAS.

The SGX and PSE are working on developing new equity index derivatives for listing in the Philippines to offer a more diverse product line to international investors.

The Grant for Equity Market Singapore, or GEMS, will launch in February, offering funding to facilitate SGX listings and develop the local equity research ecosystem.

The newly renamed Banking and Financial Services Union aims to help professionals stay relevant and competitive amid technological advancement and industry changes.

In the year ahead, banks will have to focus on seamless data integration and regtech adoption to cope with increasingly complex regulatory reporting requirements, says Wolters Kluwer’s Wouter Delbaere.

The new settlement and depository system enables SGX and market participants to align to global market practices, messaging standardisation and T+2 settlement.

The March 2017 prohibition order barring former banker Tim Leissner for 10 years was based on limited information; US DOJ charges provided evidence of his involvement in 1MDB fund flows.

The US SEC has filed charges against an outsourced IT contractor for trading on inside information while working at the Singapore branch of an investment bank.

The MAS proposes that Singapore regulated entities no longer be required to seek approval before commencing business arrangements with foreign related companies.