Singapore

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.

Fraud, Scams & Cybercrime

DBS, UOB Add Anti-Malware Feature to Banking Apps

By Editors | 28/09/2023

Last month, OCBC became the first Singapore bank to introduce the new security feature. Citi, DBS and UOB have now also added the feature.

Sustainable Finance

MAS Proposes Approach to Financing Early Retirement of Coal Plants

By Editors | 27/09/2023

A new paper by MAS and McKinsey proposes the generation and sale of “transition credits” to reduce the economic gap from retiring a coal plant early.

Sustainable Finance

Addressing Concern About SLBs With Enhanced Targets and Structure

By Joanne Teo | 26/09/2023

SGX RegCo’s Joanne Teo and Michael Tang discuss the use of sustainability-linked bonds to finance transition efforts and how to enhance the credibility of such instruments.

Data Privacy

Data Protection in Focus as AI Usage Grows

By Jill Wong | 25/09/2023

AI usage has cast a spotlight on the importance of personal data protection, says Yeong Zee Kin, the newly-appointed CEO of the Singapore Academy of Law.