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Singapore
Stablecoins
Singapore Police are Investigating Terraform Labs – Report
By Editors | 06/03/2023
Singapore police confirmed “ongoing” investigations into Terraform Labs, which is also being sued by the US SEC following its collapse last May.
Structural Regulation
Singapore Amends Thresholds for Gaining PR Status Under GIP
By Editors | 06/03/2023
Applicants will have to invest at least S$10mn in a business or S$25mn in a GIP-select fund, compared to $2.5mn currently.
Anti-Money Laundering
MAS Calls for Stronger AML/CFT Controls in Wealth Management
By Editors | 06/03/2023
Circular sets out expectations for FIs to review their existing controls to ensure they remain adequate to mitigate ML/TF risks in wealth management.
Sustainable Finance
UK, Singapore Establish ‘Green Economy’ Cooperative Framework
By Editors | 03/03/2023
The UK and Singapore will cooperate in the areas set out under three pillars – one being carbon markets and sustainable finance.
Trading & Investment
BondEvalue Approved to Operate Fractional Bond Exchange in GIFT City
By Editors | 28/02/2023
GIFT City members and their clients will be able to access institutional-grade USD bonds via BondbloX Exchange.
Supervision & Enforcement
MAS Seeks to Ramp Up Hiring for Enforcement Department
By Editors | 24/02/2023
MAS is also looking into creating a new ombudsman, a market conduct tribunal, a procedure for class-action lawsuits, and an investor compensation scheme.
Conduct, Culture & Accountability
MAS Finalises New Corporate Finance Due Diligence Standards
By Editors | 24/02/2023
From 1 October 2023, corporate finance advisers will have to meet new minimum standards when conducting due diligence on transactions.
Custody & Infrastructure
Deutsche Bank Develops Investment Servicing Platform for Digital Funds
By Editors | 23/02/2023
The platform will make it easier for firms to launch and administer digital investment funds, which may comprise crypto, tokenised securities and other digital assets.
Anti-Money Laundering
Singapore MHA to Amend Laws to Tackle Money Mules
By Editors | 22/02/2023
MHA is also looking to introduce new provisions and penalties to the CDSA to make individuals more accountable and curb the abuse of Singpass.
Custody & Infrastructure
Digital Assets Industry is Shifting Focus to “Real Utility”: Report
By Editors | 22/02/2023
New report from Oliver Wyman, Elevandi and MAS says the downturn in the digital assets ecosystem could mark an inflection point.
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