Singapore

Supervision & Enforcement

Three Arrows Capital Co-Founder Jailed in Singapore

By Mark Johnston | 03/10/2023

The co-founder was jailed for not cooperating with the liquidator’s effort to recover funds to return to the creditors of the collapsed hedge fund.

Trading & Investment

SGX Launches First Ammonia Derivatives Contracts

By Editors | 03/10/2023

SGX launched its first ammonia swap and futures contracts covering FOB Middle East and CFR East Asia pricing points.

Payments & Settlements

MAS Querying DBS Regarding Disruption of Payment Services

By Mark Johnston | 03/10/2023

MAS is following up with DBS to identify the root cause of a disruption to the bank’s FAST and PayNow services last week.

Cryptocurrency

Coinbase, Sygnum, GSR Win New Approvals in Singapore

By Manesh Samtani | 03/10/2023

Coinbase and Sygnum Singapore obtained full Major Payment Institution licences. GSR Markets Pte Ltd received in-principle approval.

Resolution & Recovery

MAS Proposes Recovery & Resolution Planning Requirements for Insurers

By Editors | 03/10/2023

MAS plans to issue a new notice setting out requirements for insurers to prepare and test recovery plans, and enhance its resolution powers for the insurance sector.

PEPs & Sanctions

Singapore Court Rules Against JPMorgan in Trade Sanctions Lawsuit

By Manesh Samtani | 02/10/2023

The Court of Appeal ruled that JPMorgan’s use of a sanctions clause to withhold payment on letters of credit was not contractually justified.

Structural Regulation

Singapore: New CMFAS Exams to Commence from 1 April 2024

By Editors | 30/09/2023

The commencement date was announced in MAS’ response to a 2020 consultation on competency requirements for financial advisers and CMS licence holders.

CBDCs

BIS Innovation Hub Concludes Project Mariana Trials

By Editors | 29/09/2023

The project explored the use of DeFi automated market makers for the cross-border exchange of CBDC in different currencies.

AI Risk & Governance

How Should Financial Institutions Govern AI Usage?

By Ranamita Chakraborty | 28/09/2023

Ying Yi Liew from Baker McKenzie Wong & Leow discusses AI governance considerations for financial institutions in Singapore at the recent TechLaw.Fest.