Singapore

Anti-Money Laundering

MAS Fines Vistra Trust for Failures in AML Controls

By Editors | 20/01/2022

Vistra failed to identify certain higher risk accounts and to subject these accounts to EDD measures, both during account acquisition as well as on an ongoing basis.

Fraud, Scams & Cybercrime

MAS, ABS Announce Measures to Bolster Online Banking Security

By Editors | 20/01/2022

Singapore banks will put in place the more stringent measures within the next two weeks, and work on more permanent solutions in the coming months.

Structural Regulation

CMB Backed SPAC Applies for Hong Kong Listing

By Editors | 20/01/2022

The SPAC listing application was made by Aquila Acquisition Corporation, whose ultimate parent is China Merchant Bank.

Cryptocurrency

Crypto Firms Should Not Advertise to Retail Customers: MAS

By Mark Johnston | 18/01/2022

New guidelines say crypto firms should refrain from advertising their services in public areas in Singapore or via social media influencers.

Tokenisation

MAS Grants RMO Licence to Digital Asset Platform ECXX

By Editors | 17/01/2022

ECXX Global Pte Ltd entered Sandbox Express in August 2020 as a digital asset exchange platform providing investors access to security tokens.

Payments & Settlements

MAS Gets New Mechanism to Transfer Excess Reserves to GIC

By Darien Choong | 17/01/2022

MAS will transfer about SGD 185 billion in excess reserves to the government in stages. GIC is estimated to become the world’s third-largest sovereign wealth fund as a result.

Trading & Investment

Thai Stock Exchange Unveils Three-Year Strategic Plan

By Mark Johnston | 14/01/2022

The SET will launch a new exchange for fundraising by SMEs and startups within in Q1, and a new digital asset exchange in Q3.

Trading & Investment

SGX to Launch Battery Metal Futures in H1 2022

By Editors | 12/01/2022

Futures contracts in cobalt metal, cobalt hydroxide, lithium carbonate and lithium hydroxide will be launched subject to regulatory approval.

Structural Regulation

UPDATED – Singapore to See First SPAC Listings Within January

By Mark Johnston | 12/01/2022

Prospectuses have been filed by Vertex Technology Acquisition Corporation, Pegasus Asia, and Novo Tellus Capital Partners.