Singapore

Securities / Derivatives

SGX Posts Strong Growth, Signals New Acquisitions, Derivatives

By Manesh Samtani | 02/08/2020

SGX is looking to develop into a hub for trading bonds, foreign exchange, commodities and derivatives, as it pivots away from being a pure equity exchange.

AML / KYC

HK Police Arrest Five in Transnational Credit Card Fraud Probe

By Editors | 29/07/2020

The syndicate members allegedly used credit card details stolen from cardholders in Singapore, US and Europe to make fraudulent online purchases of electronic products in Hong Kong.

Market Infrastructure

Singapore Industry Consultation Proposes to Discontinue SIBOR

By Manesh Samtani | 29/07/2020

Proposed reforms were found to display “noticeable differences in volatility and levels compared to SIBOR”, which will present challenges to industry adoption.

Capital / Liquidity

MAS Asks Singapore-headquartered Banks to Cap Dividends

By Editors | 29/07/2020

Locally-headquartered banks are asked to cap fiscal 2020 dividends as a pre-emptive measure to ensure sustained lending given “significant uncertainties” ahead.

AML / KYC

MAS Revokes Capital Markets Licence for AML Breaches

By Editors | 28/07/2020

Apical Asset Management lacked basic AML/CFT controls despite complex ownership structures used by some of its clients. Its two directors were reprimanded.

IBF-MAS Initiative to Enhance Capabilities of Family Office Advisors

By Editors | 27/07/2020

A newly launched skills map for family office advisors will help them to deepen their skillsets, expand their career pathways, and enhance Singapore’s family office ecosystem.

Securities / Derivatives

SGX RegCo Addresses Financial Reporting Challenges Amid Covid-19

By Editors | 26/07/2020

SGX RegCo places emphasis on quality, reliability and appropriateness of interim financial reports, with particular regard to asset valuations and alternative performance measures used.

Big Picture

Singapore Financial Sector Sees Increased Cyber Attack Frequency

By Editors | 23/07/2020

In a VMware Carbon Black report, financial services firms cited a rise in attack frequency and sophistication, with custom malware the most frequently experienced attack.

AML / KYC

Singapore Court Fines Secretary Over North Korea Shipments

By Editors | 22/07/2020

The secretary pleaded guilty to three charges under the United Nations Act involving the shipment of luxury items to North Korea for her employer.