Singapore

Enforcement

MAS Proposes to Improve Fairness of Appeals Process

By Manesh Samtani | 21/10/2021

Proposed changes to the Appeals Regulations would allow appellants to review MAS’ reasons for a decision before filing their petition for appeal.

Securities / Derivatives

NZX to Migrate Dairy Derivatives to SGX on 27 November

By Editors | 21/10/2021

NZX has amended its Clearing and Settlement Rules and Procedures, and the NZX Derivatives Market Procedures, to give effect to the migration of open interests.

Market Infrastructure

LCH Expands Eligible Collateral to Include SGD Securities

By Editors | 20/10/2021

LCH says accepting SGD collateral will be an important tool for improving liquidity management and optimising margin costs.

AML / KYC

Singapore Consults on Amendments to Accountants Act

By Sanday Chongo Kabange | 20/10/2021

Under the changes, ACRA can conduct inspections on accountants for compliance with AML/CFT requirements, and impose penalties for non-compliance.

Enforcement

SFC Penalises IPO Sponsor Over Substandard Due Diligence Work

By Editors | 18/10/2021

Ample Capital Limited failed to conduct adequate due diligence on suspicious cash settlements and to keep proper records of its due diligence work.

MAS Tightens Monetary Policy Amid Inflation Concerns

By Editors | 14/10/2021

MAS will slightly raise the slope of the S$NEER policy band to ensure medium term price stability while recognising the risks to the economic recovery.

Enforcement

Singapore Woman Admits to Receiving Criminal Proceeds

By Ranamita Chakraborty | 11/10/2021

On instructions from a man she met online, a secretary of a law firm opened bank accounts that were used to receive funds stolen from a Botswana bank.

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.