Singapore

Fintech / Regtech

Singapore Sees Launch of DLT-based Payment Platform, Partior

By Editors | 27/10/2021

With its genesis in MAS’ Project Ubin, Partior was founded by DBS, JPMorgan and Temasek last year seeking to disrupt the traditional cross-border payments model.

Market Infrastructure

SGX Opens GIFT City Office Ahead of India Trading Link Launch

By Mark Johnston | 27/10/2021

The new office will house a data centre referred to as GIFT Data Connect. The NSE-SGX GIFT City Connect is expected to be fully-operational by January 2022.

Market Infrastructure

Deutsche Bank Launches FX Trading Infrastructure in Singapore

By Editors | 27/10/2021

The launch is in line with a MAS objective to develop Singapore into a regional FX trading hub. RBC Capital Markets and Nomura also plan similar launches later this year.

Singapore Launches New Family Office Network, GFO Circle

By Editors | 27/10/2021

The GFO Circle is a “one-of-a-kind” public-private partnership to bring the family office industry together, said MAS executive director Ms Thong Leng Yeng.

AML / KYC

Singapore Court Charges Property Agent for Failing to File STR

By Ranamita Chakraborty | 26/10/2021

The agent collected a bag of cash for a property purchase. It was later discovered that the purchaser was an undischarged bankrupt and operated illegal gambling dens.

AML / KYC

Singapore Court Fines Man for Falsifying North Korea Invoices

By Ranamita Chakraborty | 25/10/2021

The business dealings were not in violation of sanctions regulations but the falsification of invoices to conceal them from banks has resulted in a S$210,000 fine.

Market Infrastructure

MAS Consults on Revisions to BCM Guidelines

By Manesh Samtani | 23/10/2021

The guidelines emphasise the need for FIs to take an end-to-end view in ensuring the continuous delivery of critical business services and functions.

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.