Singapore

ESG / Sustainability

MAS Calls on Banks to ‘Carefully Assess’ Client Transition Plans

By Ranamita Chakraborty | 09/06/2023

MAS will issue a consultation on transition planning later this year. A new association will be formed to foster a dynamic ecosystem for green and transition finance.

ESG / Sustainability

Climate Impact X Launches Spot Trading Platform for Carbon Credits

By Ranamita Chakraborty | 08/06/2023

**CIX told Regulation Asia that it is seeking alignment with IOSCO’s principles for commodity price benchmarks – a detailed set of guidelines relating to governance and control systems.
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Crypto / Digital Assets

MAS Grants Major Payment Institution Licence to Circle

By Ranamita Chakraborty | 07/06/2023

Circle said receiving the licence is a “significant step forward” for the firm and the future of financial infrastructure and dollar digital currencies in Asia.

Market Infrastructure

OSTTRA Completes First Multilateral Conversions of SOR Currency Swaps

By Editors | 07/06/2023

DBS, OCBC and UOB participated in OSTTRA’s first multilateral conversion of USD/SGD swaps from SOR to SORA.

Consumers Still First Line of Defence Against Fraud

By Karen Ng | 07/06/2023

Fraudulent websites are causing chaos. Banks and regulators have taken on a parenting role to stop consumers from falling prey to scammers.

Securities / Derivatives

SGX RegCo Resumes Watch Listing Process After Three Years

By Editors | 06/06/2023

SGX RegCo suspended the half-yearly watch-list reviews in June 2020. With the resumption, nine companies have been added to the list.

Crypto / Digital Assets

Crypto.com Receives Licence to Offer Crypto Services in Singapore

By Sanday Chongo Kabange | 06/06/2023

CEO Kris Marszalek said Crypto.com is proud to receive a licence from a regulator that “prioritises consumer protection, safety and security”.

ESG / Sustainability

WWF-Singapore Assesses ESG Integration Efforts at Private Banks

By Editors | 06/06/2023

The study identified a need private banks to improve risk management and better incorporate ESG risk assessments and scenario analysis in their processes.

Enforcement

MAS Bans Six Former Great Eastern Advisers for Tax Fraud

By Ranamita Chakraborty | 02/06/2023

MAS said the six former insurance agents actively participated in a scheme to cheat the Inland Revenue Authority out of S$125,000.