Singapore

Trading & Investment

MAS to Ban Payment for Order Flow from 1 April 2023

By Manesh Samtani | 07/11/2022

Brokers “should not receive PFOF in placing and/or executing customers’ orders” because it “introduces conflicts of interests” and is “likely to cause harm to customers”, MAS says.

Market Abuse

Singapore High Court Considers 40 Year Jail Term for Manipulator

By Editors | 07/11/2022

Prosecutors are reportedly asking the court to impose a 40-year jail sentence on John Soh Chee Wen, the mastermind of the 2013 penny stock crash.

AI Risk & Governance

MAS to Expand Funding Support for Financial Sector Innovation

By Editors | 06/11/2022

MAS will provide a further SGD 150 million in funding over three years to the Financial Sector Technology and Innovation scheme.

Payments & Settlements

MAS to Cooperate with Ghana on Trade and Financial Services

By Editors | 04/11/2022

MAS will work on initiatives to generate greater opportunities for trade and financial services cooperation between Singapore and Ghana.

Clearing & Post-Trade

SGX RegCo Refines CDP Margining Framework & Clearing Fund

By Sanday Chongo Kabange | 04/11/2022

Margin rates will be differentiated based on different risk profiles of securities. Margin offsets will be introduced to account for diversification effects. Anti-procyclicality measures will be enhanced.

CBDCs

MAS Launches New Initiative to Advance Cross-Border CBDC Work

By Sanday Chongo Kabange | 04/11/2022

Under the ‘Ubin+’ initiative, MAS will develop technical standards, infrastructure, and policy guidelines to support atomic settlement of FX transactions using CBDCs.

Cloud & Infrastructure

Six Southeast Asian Fintech Associations Agree to Cooperate

By Editors | 03/11/2022

The six fintech associations are from Singapore, Cambodia, Malaysia, the Philippines, Thailand and Vietnam.

Payments & Settlements

MAS Proposes to Eliminate Cheque Usage in Singapore

By Editors | 03/11/2022

MAS proposes that financial institutions collectively cease the issuance of new cheque books to all corporates by end-2024.

Payments & Settlements

Singapore Launches Digital Banker’s Guarantees, Insurance Bonds

By Editors | 03/11/2022

Banker’s guarantees and insurance bonds historically took a few days to issue. The new digital service enables issuance and delivery to government agencies within a day.