Feature

Eight individuals were sentenced to between three and nine years' jail. Total fines issued, including against three companies, amount to $310mn.

Banks have agreed to allow corporate customers who still face cash-flow pressures to further extend their trade facilities for a further 90 days, on top of the 90 days granted from May.

Two new REIT futures contracts will launch on 24 August, both designed in accordance with CFTC guidelines to allow for distribution to US and global institutional investors.

Interpol warns that a further increase in cybercrime is highly likely in the near future, citing vulnerabilities related to working from home.

Financial institutions are directed to study the guidance to identify and address gaps in their EWRA frameworks and processes.

The regulator also has plans to allow certain banks that are significantly rooted in Singapore to obtain full bank licences and set up digital-only subsidiaries.

The FSC will impose new rules for securities firms on stress testing, liquidity management, leverage and mandatory FX hedging, among its measures to protect investors from risky products.

Measures will be taken against six individuals and three entities, including travel bans, asset freezes, and a prohibition on obtaining funding from the EU.

Foreign investors will face national security checks regardless of the value of their investments, subject to enhanced monitoring, investigative and enforcement powers of the Treasury.

The State Council’s antitrust committee has reportedly been collecting information on the two payments giants for over a month but has not yet decided whether to launch a probe.