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Fraud, Scams & Cybercrime
Singapore Police Lay Fraud Charges Against Zenrock Founder
By Editors | 18/07/2022
The founder and his former operations executive were charged for cheating Bank of China, HSBC and Credit Agricole CIB.
Clearing & Post-Trade
MAS Proposes to Exempt Some Market Operators from ACH/RCH Rules
By Editors | 11/07/2022
The exemption is for market operators that verify transactions and calculate transacting parties’ obligations, but do not actually clear or settle trades.
Conduct, Culture & Accountability
MAS, IBF Adjust Training Scheme Funding Parameters
By Editors | 07/07/2022
MAS says training and upskilling culture in the financial sector workforce has taken root, and high uptake in training is encouraging.
Emerging Prudential Risks
MAS Issues Guidelines on Islamic Banking in Singapore
By Editors | 06/07/2022
The main risk which is unique to Islamic banks is Shariah compliance risk – where noncompliance with Shariah rulings carries “significant reputational risk”.
AI Risk & Governance
MAS Assesses Fairness of FIs’ Use of AI/Machine Learning
By Editors | 05/07/2022
MAS conducted a thematic review on selected FIs’ implementation of Fairness Principles in their use of AI/machine learning.
Cryptocurrency
MAS Mulls New Restrictions on Retail Investment in Crypto
By Editors | 05/07/2022
New measures may include placing limits on retail participation, and introducing new rules on the use of leverage in crypto transactions.
Cryptocurrency
Crypto Hedge Fund Three Arrows Capital Files for Bankruptcy
By Manesh Samtani | 05/07/2022
The bankruptcy filing came three days after Three Arrows entered into liquidation in the British Virgin Islands.
Cryptocurrency
MAS Reprimands Crypto Hedge Fund Three Arrows Capital
By Editors | 01/07/2022
MAS said Three Arrows Capital exceeded its allowable AUM and gave the regulator a false representation. The company entered into liquidation this week.
Tokenisation
ADDX, CCB Partner to Enable Chinese Offshore Investments
By Editors | 24/06/2022
The CCB agreement allows ADDX to operationalise an arrangement with ICHAM to channel QDLP funds from mainland investors into overseas digital securities.
Climate Risk
GFANZ Consults on Net-zero Transition Planning Framework
By Editors | 24/06/2022
GFANZ identifies four critical approaches for financial institutions to support real-economy GHG emissions reductions.
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