Singapore

Market Infrastructure

LSEG to Launch New NDF Matching Venue in Singapore

By Editors | 09/05/2022

The fully cleared NDF matching venue will be open for integration testing later this year, with a full production launch in mid-2023.

Enforcement

Two Convicted in Singapore’s Largest-ever Market Manipulation Case

By Editors | 06/05/2022

Two individuals were convicted on 349 charges for controlling and using 187 trading accounts to manipulate three penny stocks before they collapsed in October 2013.

AML / KYC

Singapore: Revolut, Luno Get In-Principle Approval to Offer DPT Services

By Editors | 02/05/2022

MAS managing director Ravi Menon described the licensing process as necessarily stringent for Singapore to be a responsible global crypto hub.

AML / KYC

MAS Issues Guidance on Uplifting Name Screening Systems

By Manesh Samtani | 30/04/2022

MAS observed an overreliance on system vendors to set the screening parameters. Most FIs did not enquire about or assess vendors’ information sources.

Enforcement

MAS Offers Update on Major Ongoing Investigations

By Editors | 29/04/2022

MAS’ latest enforcement report includes a new section providing updates on cases relating to Noble Group, Hyflux, Eagle Hospitality Trust, and Hui Xun Asset Management.

Singapore: New Guidance Issued on Enhancing Insurer Service Quality

By Editors | 26/04/2022

Singapore’s Insurance Culture and Conduct Steering Committee published a third paper offering guidance on improving conduct and culture in the insurance ecosystem.

Trust in Singapore Banking Industry is Increasing: ABS

By Manesh Samtani | 26/04/2022

ABS highlighted banks’ efforts to improve complaints handling, tackle digital scams, and enhance accountability, conduct and culture.

Enforcement

MAS Penalises Two CIMB Securities Brokers for False Trading

By Editors | 26/04/2022

The two brokers rigged the market for Kris Wiluan, who was convicted and fined in May 2021 for manipulating the stock prices of KS Energy where he was CEO.

AML / KYC

PwC Concludes Review of OCBC Anti Fraud Systems

By Ranamita Chakraborty | 26/04/2022

A review of OCBC’s anti-fraud systems and procedures concluded that the bank should take a more “integrated approach” to combat fraud and scams.