Singapore

Enforcement

Singapore Charges Former Hyflux Execs for Disclosure Failures

By Editors | 18/11/2022

A joint investigation by the CAD, MAS and ACRA found lapses in Hyflux’s disclosures and non-compliance with accounting standards.

ESG / Sustainability

UAE State Fund Acquires Stake in AirCarbon Exchange

By Editors | 17/11/2022

The investment will help AirCarbon Exchange establish a regulated carbon trading exchange and clearinghouse in Abu Dhabi.

Fintech / Regtech

MAS, UN to Jointly Develop Digital Finance in Pacific Island LDCs

By Editors | 15/11/2022

The collaboration includes measures to improve MSME access to financing and financial services, initially in Pacific Island LDCs.

Crypto / Digital Assets

Singapore and Hong Kong Regulators Address FTX Queries

By Editors | 15/11/2022

MAS said FTX is neither licensed nor exempt from licensing in Singapore. Hong Kong’s SFC said licensed fund managers’ exposure to FTX is “immaterial”.

Securities / Derivatives

UOB Lists First Product on SGX Using Shenzhen ETF Link

By Editors | 15/11/2022

The SGX-listed ETF replicates the performance of SZSE’s ChiNext Index by investing in a Shenzhen-listed ETF managed by Ping An Fund Management.

Fintech / Regtech

Five ASEAN Central Banks Sign MoU on Payments Connectivity

By Sanday Chongo Kabange | 15/11/2022

The MoU is the first that brings together multiple ASEAN central banks under a single multilateral agreement to enhance cross-border payments.

ESG / Sustainability

UK Think Tank Accuses Singapore’s Sembcorp of Greenwashing

By Editors | 14/11/2022

The allegations relate to Sembcorp’s sale of its India coal business while still retaining “substantial liabilities” and “operational influence”.

Crypto / Digital Assets

NY Fed, MAS to Test CBDC-based Cross-Border Payments

By Editors | 11/11/2022

“Project Cedar Phase II x Ubin+” will seek to enhance designs for atomic settlement of cross-border cross-currency transactions, leveraging wholesale CBDCs as a settlement asset.

Enforcement

DFSA Fines Bank of Singapore for Inadequate AML Controls

By Editors | 11/11/2022

Bank of Singapore offered the DFSA an enforceable undertaking agreeing to remediate deficiencies and engage an external compliance expert for verification.