Singapore

Sustainable Finance

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.

Anti-Money Laundering

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.

Anti-Money Laundering

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.

Operational Risk

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.

Structural Regulation

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.

Clearing & Post-Trade

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.

Clearing & Post-Trade

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.

Anti-Money Laundering

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.

Anti-Money Laundering

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.