Singapore

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.

Market Infrastructure

Singapore Offers Guidance on Converting Legacy SOR Contracts

By Manesh Samtani | 29/07/2021

Guidance is offered on wholesale markets, corporate loans, derivatives, bonds and retail loans. A public education campaign will start in September 2021.

Market Infrastructure

BIS, MAS Set Out Blueprint for Cross-border Payments

By Ranamita Chakraborty | 29/07/2021

BIS Innovation Hub Singapore Centre and MAS have published a blueprint that could make real-time cross-border payments a reality in the next two to four years.

Capital / Liquidity

MAS Ends Dividend Cap for Banks, Finance Companies

By Editors | 29/07/2021

Local banks and finance companies should still exercise continued prudence in their discretionary distributions, and prioritise support to customers.