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Securities / Derivatives
Singapore Has No Plans to Restrict Retail Investment in SPACs
By Darien Choong | 20/02/2022
Regulatory safeguards and educational efforts mounted by SGX should provide “adequate protection for retail investors and enable them to assess the risk-return trade-offs”.
Fintech / Regtech
Singapore Continues Work to Bolster Digital Banking Security
By Darien Choong | 18/02/2022
New measures include expanding the use of biometric technology, strengthening fraud surveillance and detection algorithms, and enabling customers to trigger account freezes.
Fintech / Regtech
NFTs Are Not Suitable for Retail Investors, MAS Chairman Warns
By Manesh Samtani | 17/02/2022
MAS chairman Tharman Shanmugaratnam said NFTs could be regulated only if they are used to represent capital markets products.
Fintech / Regtech
DBS to Offer Retail Crypto Trading by Year End
By Mark Johnston | 15/02/2022
DBS plans to make access to its institutional trading desk for digital assets more convenient and to launch retail services by year-end.
AML / KYC
MAS Tables Bill to Obtain Enhanced Regulatory Powers
By Sanday Chongo Kabange | 15/02/2022
The Financial Services and Markets Bill will give MAS enhanced regulatory powers to address misconduct, crypto asset and technology risks.
AML / KYC
MAS Issues Guidance on Tech Adoption for Remote CDD
By Manesh Samtani | 14/02/2022
MAS identifies good industry practices used to guard against fraud, impersonation, and document tampering in a non-face-to-face setting.
ESG / Sustainability
MAS, IBF Develop Skills Framework for Sustainable Finance
By Editors | 10/02/2022
Technical skills and competencies have been set out for FIs to use to upskill finance professionals and build deeper talent pools for sustainable finance.
Enforcement
Singapore Man Charged Over False Statements in Telegram Chat
By Manesh Samtani | 09/02/2022
The false statements were used to induce investors to trade listed securities. SGX has previously warned about the use of Telegram chat groups in “pump and dump” schemes.
Enforcement
MAS Imposes Capital Surcharge on DBS for November Outage
By Editors | 07/02/2022
DBS has to hold SGD 930 million in additional regulatory capital until MAS is satisfied that it has addressed all shortcomings identified by an independent reviewer.
Fintech / Regtech
Singapore Gets New Methodologies to Assess Responsible AI Use
By Editors | 06/02/2022
A new open-source software toolkit has also been published to enable financial institutions to automate the fairness metrics assessment.
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