Singapore

Clearing & Post-Trade

DBS Becomes LCH SwapClear’s First Direct Member in Singapore

By Editors | 18/10/2022

DBS will be able to post Singapore government bonds as collateral, making LCH the first global offshore clearing house to accept the asset class as eligible collateral.

Sustainable Finance

ABS Launches Sustainability Guidelines for Private Banking

By Editors | 17/10/2022

A common industry training benchmark has also been established to help upskill private banking relationship managers in the area of sustainability.

Fraud, Scams & Cybercrime

Singapore: SMS Sender ID Registration to Become Mandatory

By Editors | 15/10/2022

All non-registered SMS sender IDs after 31 Jan 2023 will be channelled to a sender ID with the header “Likely-SCAM”.

Cryptocurrency

Coinbase, Blockchain.com Win In-principle Approval in Singapore

By Editors | 12/10/2022

MAS has granted in-principle approval to Coinbase and Blockchain.com. Currently, nine firms have full licences to offer regulated crypto services in Singapore.

Reporting & Disclosures

Singapore: SIAS Joins Fight Against Greenwashing

By Editors | 12/10/2022

Chief executive David Gerald said the Securities Investors Association of Singapore working to enhance its guidance for annual reports to combat greenwashing.

Conduct, Culture & Accountability

MAS Calls on Investors to Engage with Listed Companies

By Manesh Samtani | 11/10/2022

Asset managers and retail investors are encouraged to more actively engage with their investee companies and participate in setting their strategic direction.

Anti-Money Laundering

Singapore Punishes Ex-BSI Banker Over 1MDB Failings

By Sanday Chongo Kabange | 11/10/2022

BSI Singapore’s former head of private banking contributed to the bank’s failure to file STRs for 1MDB-related transactions when there were reasonable grounds to do so.

Anti-Money Laundering

Singapore Government Publishes New National CTF Strategy

By Editors | 09/10/2022

A national risk assessment found remittance agents and banks to be the most vulnerable. MAS will develop new guidance for both sectors.

KYC & CDD

ACRA Implements Requirements to Disclose Nominees, Controllers

By Editors | 08/10/2022

Local and foreign companies are required to maintain a register of nominee shareholders, and lodge information on their controllers with ACRA.