Singapore

MAS Publishes Compliance Toolkit for Financial Advisers

By Editors | 09/04/2022

The toolkit provides guidance to facilitate compliance by financial advisers with MAS approval and reporting requirements.

Enforcement

Singapore Court Upholds Convictions of Russian, Singapore Nationals

By Editors | 08/04/2022

The two men served as resident directors for companies, declaring themselves rather than their Russian clients as the beneficial owners.

AML / KYC

Singapore Jails Man for Money Laundering, Email Fraud

By Editors | 07/04/2022

The man received funds in his and his company’s bank accounts that were derived from chearing offences perpetrated overseas and locally.

AML / KYC

Singapore Tightens Laws on Technology Risk, Crypto Assets

By Sanday Chongo Kabange | 06/04/2022

FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.

AML / KYC

Singapore Banks to Station More Staff at Anti-Scam Centre

By Editors | 05/04/2022

While banks have been supporting the police’s Anti-Scam Centre for the past three years, only DBS currently has staff physically located inside the centre.

Market Infrastructure

Singapore CSA Developing Technical Reference on Cybersecurity

By Editors | 05/04/2022

The Technical Reference will provide guidance on the adoption of tiered cybersecurity measures to address the different risk profiles of enterprises.

ESG / Sustainability

Singapore Updates Stewardship Principles for Responsible Investors

By Editors | 03/04/2022

The updated Principles emphasise the need to integrate ESG considerations into investment decision-making and stewardship practices.

Securities / Derivatives

SGX, UK Partner to Fund New SDG-Aligned Issuers

By Editors | 03/04/2022

SGX and MOBILIST will partner to support new issuers of securities aligned with the SDGs by deploying equity capital and other forms of assistance.

Fintech / Regtech

BIS, MAS Launch Prototype Supervisory Analytics Platform

By Manesh Samtani | 31/03/2022

Project Ellipse can provide regulators with early warning indicators, analytics and prudential metrics to assist them in risk detection and banking supervision.