Singapore

Securities / Derivatives

MAS, ACRA, SGX RegCo Set Out Expectations on Meeting Conduct

By Editors | 26/03/2020

MAS, SGX RegCo and ACRA expect all issuers to comply with the Ministry of Health’s mandatory safe distancing measures. Legislative amendments will be introduced.

Fintech / Regtech

Singapore, Australia Agree to Promote Data Connectivity, Digital Economy

By Editors | 23/03/2020

Singapore and Australia have committed to allowing financial institutions to choose where their data is stored and prohibiting data localisation, among a raft of other agreements.

Capital / Liquidity

HK, Singapore, Indonesia Assessed as NSFR, LEX Compliant

By Editors | 22/03/2020

Hong Kong, Singapore and Indonesia were assessed as compliant with global standards for the net stable funding ratio and large exposures framework.

AML / KYC

MAS Penalises Trust Company for AML/CFT Failings

By Editors | 20/03/2020

TMF Trustees Singapore was penalised SG$400,000 for failing to verify the source of wealth and monitor transactions on an ongoing basis.

Securities / Derivatives

SGX RegCo Offers Guidance on Holding General Meetings

By Editors | 20/03/2020

Measures include segregating attendees across various venues, adopting digital tools to conduct general meetings, and a 250-person limit at any given venue.

Market Infrastructure

Singapore Steering Committee Publishes SORA Transition Roadmap

By Editors | 19/03/2020

Banks aim to start active trading in SORA derivatives in the second half of the year, and SORA-based loans will launch by year-end.

Enforcement

MAS Bans Six Individuals for Fraud and Dishonest Conduct

By Editors | 19/03/2020

The first five individuals abused their clients’ trust for their personal gain and the last evaded taxes. All six also received prison sentences.

Market Infrastructure

Fed Establishes FX Swap Lines with Nine Central Banks

By Editors | 19/03/2020

Temporary currency swap lines will be established with 9 central banks – including BOK, RBA, MAS and RBNZ – to lessen the strain on US dollar funding markets.

Big Picture

Low Oil Prices Amplify Asset Risks at Singapore Banks: Moody’s

By Editors | 17/03/2020

The major concern for Singapore banks is the quality of loans to SMEs, which typically have lower financial flexibility and are more sensitive to operating and trade conditions.