Singapore

Market Infrastructure

StanChart Permitted to Establish Digital Bank in Singapore

By Editors | 14/12/2020

StanChart was named Singapore’s first Significantly Rooted Foreign Bank in August. New privileges allow it to secure an additional full bank licence to establish a digital banking subsidiary.

ESG / Sustainability

SGX to Promote China Bond Markets, MAS Registers Shanghai Office

By Editors | 13/12/2020

A series of MOUs to deepen collaboration in financial services and innovation were announced at the 2nd Singapore-Shanghai Comprehensive Cooperation Council meeting on Friday.

Market Infrastructure

Singapore Set Out Timelines for Full Discontinuation of SIBOR

By Manesh Samtani | 11/12/2020

The one-month and three-month SIBOR will be discontinued by end-2024. The discontinuation of the six-month SIBOR may depend on the timing of cessation of USD LIBOR.

Crypto / Digital Assets

MAS Grants DBS In-principle Approval to Set Up Digital Exchange

By Manesh Samtani | 10/12/2020

The DBS announcement came two days after SIX and SBI Digital Asset Holdings announced plans to launch a digital asset issuance platform, exchange and CSD venue by 2022.

Enforcement

Singapore Authorities Issue More Charges in Wirecard Probe

By Editors | 09/12/2020

The director of local accounting firm Citadelle Corporate Services was hit with three additional charges for falsifying letters confirming Wirecard cash balances.

ESG / Sustainability

Asset Managers, Insurers Must Embed Environmental Risk: MAS

By ESG Investor | 09/12/2020

Guidelines due to take effect in 18 months call for increased engagement with stakeholders, stress testing and risk disclosures.

Market Infrastructure

Singapore to Lay Foundation for Regional Carbon Credits Market

By Manesh Samtani | 09/12/2020

Ravi Menon said there is a need for more high-quality carbon credits and more trading of such credits across borders to drive convergence towards a global price on carbon.

Big Picture

Financial Services Driving Growth in Singapore Blockchain Use

By Editors | 09/12/2020

The Singapore Blockchain Ecosystem Report 2020 says the use of blockchain in Singapore’s financial sector is driven by industry collaboration to address common pain points.

MAS Outlines Initiatives to Expand Financial Cooperation with China

By Editors | 08/12/2020

MAS and Chinese regulators are collaborating on RMB internationalisation, exchange-traded funds, digital finance and green finance.