Singapore

Fintech / Regtech

Singapore, EU to Expand Partnership to ‘Digital Realm’

By Editors | 18/12/2022

The partnership includes efforts to advance new and emerging areas such as 5G/6G, artificial intelligence, and digital identities.

AML / KYC

Singapore Releases Blueprint to Combat Ransomware Attacks

By Mark Johnston | 17/12/2022

The blueprint includes recommendations to discourage ransomware payments and make it mandatory for organisations to report such payments.

MAS Proposes to Revise Fair Dealing Guidelines

By Editors | 15/12/2022

MAS proposes to widen the Guidelines to explicitly include all FIs and the corresponding products and services that they offer to their customers.

Enforcement

Singapore Jails Man for Exporting Beverages to North Korea

By Editors | 14/12/2022

The man, while working as a manager for Pokka International, sold beverages he knew would later be exported to North Korea for commercial trade.

Enforcement

Singapore: Ex-Agritrade CFO Pleads Guilty to Deceiving Banks

By Editors | 12/12/2022

The former CFO used false financial statements to obtain loans for Agritrade International and its suppliers, causing over $469mn in losses for up to 12 banks.

Securities / Derivatives

Industry Ranks Singapore Top APAC Market to Operate In

By Editors | 11/12/2022

In an ASIFMA survey, capital market participants ranked Singapore as the top market for its political environment and predictable and transparent regulatory policy.

Enforcement

MAS Bans Former UOB, OCBC Representative for 15 Years

By Editors | 08/12/2022

The former representative deceived seven customers into transferring S$2mn to his personal bank accounts by promoting fictitious fixed deposits and other investment products.

Market Infrastructure

Chinese, Hong Kong Firms Increasingly Setting Up in Singapore

By Editors | 06/12/2022

Up to 500 Chinese companies are estimated to have set up in Singapore this year. Meanwhile Hong Kong hedge funds are increasingly setting up operations in the city-state.

Market Infrastructure

Full Launch of SGX-NSE Trading Link Planned for Q2 2023

By Editors | 01/12/2022

The trading link enables orders from SGX members to be routed to NSE IFSC for trading and execution. To date, 14 SGX clearing members have been onboarded.