Singapore

Trading & Investment

Singapore Issues Notice on Bloomberg’s Publication of MAS Recommended Rate

By Editors | 10/07/2023

The Spread Adjustment published by Bloomberg “differs slightly” for the overnight and 1-month tenor, the SC-STS explains.

Fraud, Scams & Cybercrime

MAS Urges Banks to Stop Use of SMS OTP

By Karen Ng | 10/07/2023

The MAS is urging banks to move away from the sole reliance on SMS OTP as the only authentication factor for transactions.

Anti-Money Laundering

MAS Punished 17 FIs for Breaching AML/CFT Laws in 5 Years

By Karen Ng | 07/07/2023

A total of 20 investigations have been conducted during the time frame 1 June 2018 to 23 June 2023

CBDCs

DBS Launches e-CNY Merchant Collection Solution

By Editors | 07/07/2023

DBS plans to build on the launch of the e-CNY solution to explore new digital payment solutions, including cross-border CBDC payments.

Sustainable Finance

Singapore Revises Tax Incentives for SFOs

By Ranamita Chakraborty | 07/07/2023

The Monetary Authority of Singapore is looking to encourage single family offices (SFOs) to “deploy their capital more purposefully to benefit Singapore and the region”.

ESG Data

Industry Consults on Code of Conduct for ESG Ratings

By Ranamita Chakraborty | 07/07/2023

The code incorporates recommendations from the International Organisation of Securities Commissions and sets out clear guidance for ESG data and rating providers.

Anti-Money Laundering

FATF to Bring “Fundamental Change” to Financial Crime Fight

By Karen Ng | 06/07/2023

FATF would scale up its fight against financial crime and bring comfort to victims through better asset recovery.

Reporting & Disclosures

Singapore’s SRAC Recommends ISSB-Aligned Climate Reporting

By Ranamita Chakraborty | 06/07/2023

Singapore’s sustainability reporting advisory committee studied ISSB’s exposure draft closely and consulted several stakeholders before making major climate reporting recommendations, chairperson Esther An told Regulation Asia.

Fraud, Scams & Cybercrime

Singapore Parliament Passes Online Criminal Harms Act

By Jill Wong | 06/07/2023

The new law will give the government the power to order the removal of websites, apps and online accounts suspected of criminal activities.