Singapore

AML / KYC

Singapore: Exemptions for Foreign Offices of FIs Take Effect

By Editors | 10/10/2021

Under the new ‘Branch Framework’, Singapore FIs have to assess whether their overseas representatives are acting on behalf of the Singapore office or the foreign office.

Market Infrastructure

Singapore Launches New Cybersecurity Strategy

By Mark Johnston | 06/10/2021

The strategy is underpinned by two foundational enablers: the development of a more vibrant cybersecurity ecosystem, and a more robust cyber workforce.

AML / KYC

MAS Examining Asiaciti Trust Revelations in Pandora Papers

By Editors | 06/10/2021

The Pandora Papers show that Singapore firm Asiaciti Trust had helped politicians and public officials set up trusts and shell companies in secrecy jurisdictions.

ESG / Sustainability

HSBC, Temasek to Establish Platform to Fund Sustainable Infrastructure

By Editors | 04/10/2021

HSBC and Temasek, with support from ADB and Clifford Capital Holdings, will dispense over $1bn in loans through the platform within 5 years.

ESG / Sustainability

Singapore Established Green Bonds Programme Office

By Manesh Samtani | 03/10/2021

The new office, under the Ministry of Finance, will help to catalyse sustainable finance and green investments, said minister Lawrence Wong.

AML / KYC

MAS to Deploy Information Sharing Platform for AML/CFT

By Manesh Samtani | 03/10/2021

The COSMIC platform will be developed and deployed in phases. The initial participants are DBS, OCBC, UOB, StanChart, Citibank and HSBC.

Securities / Derivatives

SGX Adds RFQ Functionality for FX Derivatives on OTC Platform

By Editors | 03/10/2021

The RFQ function allows market participants to negotiate and transact block trades in FX futures and options on the Titan OTC Pro platform.

Crypto / Digital Assets

MAS Grants Two New Licences to Provide DPT Services

By Editors | 02/10/2021

DBS Vickers and Independent Reserve have received authorisation under the PSA to provide digital payment token services.

AML / KYC

US DOJ Links Singapore, Hong Kong to Tax Evasion Case

By Editors | 30/09/2021

An unsealed indictment shows that six individuals and a Swiss firm used accounts in Singapore and Hong Kong to help US clients evade taxes from 2009 to 2014.