Singapore

Market Abuse

Singapore Man Charged Over False Statements in Telegram Chat

By Manesh Samtani | 09/02/2022

The false statements were used to induce investors to trade listed securities. SGX has previously warned about the use of Telegram chat groups in “pump and dump” schemes.

Operational Risk

MAS Imposes Capital Surcharge on DBS for November Outage

By Editors | 07/02/2022

DBS has to hold SGD 930 million in additional regulatory capital until MAS is satisfied that it has addressed all shortcomings identified by an independent reviewer.

AI Risk & Governance

Singapore Gets New Methodologies to Assess Responsible AI Use

By Editors | 06/02/2022

A new open-source software toolkit has also been published to enable financial institutions to automate the fairness metrics assessment.

Fraud, Scams & Cybercrime

MAS to Introduce Equitable Loss Sharing Framework for Scams

By Manesh Samtani | 04/02/2022

OCBC’s goodwill payouts to fully cover customer losses were a one-off gesture, and they “do not set a general precedent for future cases”, MAS said.

Reporting & Disclosures

MAS to Issue New Anti-Greenwashing Rules for ESG Funds

By Manesh Samtani | 31/01/2022

Greenwashing poses a “real and present danger” to industry efforts to advance sustainability considerations in their investment processes.

AI Risk & Governance

Evolving AI Risks and Regulations in Singapore and the EU

By Peiying Chua | 31/01/2022

Peiying Chua explains how financial institutions can ensure their implementation of AI does not run afoul of lawmakers and regulators.

Structural Regulation

DBS to Acquire Citi Consumer Banking Unit in Taiwan

By Editors | 31/01/2022

The acquisition, expected to close in mid-2023, will make DBS the largest foreign bank in Taiwan by assets.

Fraud, Scams & Cybercrime

COSMIC Will Yield Significant and Far Reaching Benefits

By Jamil Ahmed | 26/01/2022

Singapore is taking a leap forward in how its financial services industry detects and combats financial crime, says Jamil Ahmed.

Structural Regulation

SGX Lists First Two SPACs Under New Framework

By Editors | 24/01/2022

Vertex Technology Acquisition Corp and Pegasus Asia listed last week. A third SPAC, filed by Novo Tellus Alpha Acquisition, will debut on Thursday.