Singapore

Fintech / Regtech

DBS Vickers Receives ‘In-principle Approval’ to Provide DPT Services

By Editors | 12/08/2021

DBS Vickers is working through the necessary follow-ups with a view to meeting MAS’ requirements for a digital payment token services licence.

Securities / Derivatives

Singapore Sees Resurgence of ‘Pump and Dump’ Scams

By Editors | 11/08/2021

Seven victims recently bought more than 49,000 shares in a US-listed company based on the recommendation of an “expert” and lost over $1mn within two days.

ESG / Sustainability

SGX to Consult on Sustainability Reporting Enhancements “Soon”

By Manesh Samtani | 10/08/2021

The consultation will seek views on incorporating the TCFD recommendations, specific metrics to improve data comparability, assurance requirements, and board diversity disclosures.

Market Infrastructure

LCH Set to Switch Discounting, PAI Rate from SOR to SORA

By Editors | 08/08/2021

LCH is switching its discount curves and PAI rate on SGD-denominated cleared swaps from SOR to SORA on 9 August.

AML / KYC

MAS Finalising New Data-sharing Platform for Banks

By Manesh Samtani | 05/08/2021

The new platform will enable banks to securely share information on customers exhibiting significant risk red flags and warn each other of potential criminal activity.

AML / KYC

Singapore: Woman Jailed for Helping to Launder Scam Proceeds

By Sanday Chongo Kabange | 05/08/2021

Rohaiza Alap provided 25 bank accounts to scammers to launder S$2mn out of Singapore. She also recruited others to act as money mules.

Enforcement

Singapore Police Charge Daughter of Hin Leong Founder

By Editors | 04/08/2021

Lim Huey Ching instructed a Hin Leong employee to ensure deleted items could not be recovered and to permanently dispose of server backups.

Crypto / Digital Assets

UPDATED – MAS Grants “In-Principle Approval” to First DPT Provider

By Manesh Samtani | 02/08/2021

MAS has clarified that notices have been issued to several applicants and that “in-principle approval” is not an official term.

Securities / Derivatives

DBS, Temasek to Launch Debt Financing Platform, EvolutionX

By Editors | 01/08/2021

The new platform will help founder entrepreneurs avoid dilution of share equity in their companies’ initial stages of development.