Singapore

Payments & Settlements

Singapore, India to Enable Real-time Cross-border Payments

By Sanday Chongo Kabange | 15/09/2021

The PayNow-UPI linkage will be implemented in July 2022, enabling faster and lower cost fund transfers between Singapore and India.

Anti-Money Laundering

Singapore Court Jails Businessman for Financing ISIS Fighter

By Ranamita Chakraborty | 13/09/2021

The Singaporean businessman gave about SGD 1,000 to a Malaysian man to finance his travel to Syria to become an ISIS fighter.

Tokenisation

MAS Grants RMO Licence to Digital Asset Platform SDAX

By Editors | 13/09/2021

SDAX allows asset owners to tokenise and list their assets as digital securities. Its first real estate token listing is expected within 2021.

Trading & Investment

RBC Capital Markets to Launch FX Infrastructure in Singapore

By Editors | 12/09/2021

RBC says the new e-FX server and pricing engine was developed with support from MAS and will be launched by year-end.

Structural Regulation

Hong Kong SPAC Framework to Prohibit Retail Access – Report

By Editors | 12/09/2021

Hong Kong’s SPAC framework will reportedly be issued for public consultation this month, proposing that only professional investors be allowed to participate.

Reporting & Disclosures

MAS to Set New Disclosure Standards for Retail ESG Funds

By Manesh Samtani | 10/09/2021

Enhanced disclosures will be required from retail ESG funds next year. NUS will launch a new centre of excellence this year to groom ESG talent.

Conduct, Culture & Accountability

The Impact of MAS’ IAC Guidelines on Data Governance

By Irene Liu | 09/09/2021

Irene Liu and Catherine Lee discuss the applicability of MAS’ Guidelines on Individual Accountability and Conduct on data governance.

Anti-Money Laundering

Singapore Court Jails Russian National for Deceiving Banks

By Sanday Chongo Kabange | 09/09/2021

The banks were deceived regarding true beneficial ownership in their decision to open bank accounts between 2014 to 2017.

Climate Risk

MAS Forms Sustainability Group, Appoints Chief Sustainability Officer

By Editors | 07/09/2021

The new group will coordinate MAS’ green finance and sustainability agenda to strengthen the financial sector’s resilience against environmental risks.