Singapore

Securities / Derivatives

MAS Revises Code on Collective Investment Schemes

By Manesh Samtani | 16/03/2020

The changes extend the requirements imposed on approved trustees and managers to VCCs, VCC directors and VCC custodians, while also introducing a best interest duty.

Securities / Derivatives

Singapore Exchange Introduces S$5m Covid-19 Care Package

By Editors | 16/03/2020

S$1.5mn will be contributed to national healthcare-support programmes, while S$3.5mn will be used to support Singapore-listed companies and SGX employees and contract staff.

Big Picture

Singapore Banks Among Most Vulnerable to Covid-19 Impacts: Fitch

By Editors | 04/03/2020

While Singaporean banks have sufficient loss-absorption buffers to withstand pressure, the impact will depend on the extent and duration of the outbreak.

AML / KYC

Financial Secrecy Index Ranks Hong Kong, Singapore in Top Five

By Manesh Samtani | 02/03/2020

The Tax Justice Network has released its 2020 rankings of jurisdictions according to their secrecy and the scale of their offshore financial activities.

Market Infrastructure

MAS 610/1003 Pilot Testing Gateway Set for April Launch

By Manesh Samtani | 02/03/2020

A six-month parallel reporting phase for the new MAS 610/1003 returns was meant to start from 1 April, but this was pushed forward by three months earlier in the year.

Securities / Derivatives

All SGX Issuers Can Apply for Time Extension to Hold AGM

By Editors | 28/02/2020

The two-month extension for companies to hold their AGM applies to all issuers that need more time, irrespective of their place of business or operations.

Securities / Derivatives

Whistleblowing Policy to Become Mandatory for SGX Listed Companies

By Editors | 18/02/2020

SGX RegCo chief Tan Boon Gin wants to hardcode a whistleblowing policy into the Listing Rules to make compliance mandatory. A consultation will be launched in June.

Market Infrastructure

MAS Issues Guidance on Investment Suitability, Pricing in Private Banking

By Editors | 17/02/2020

MAS looks to private banks’ boards and senior management to ensure the effectiveness of policies, processes, controls and systems in sales and advisory practices, and to shape the staff behaviour.

DBS Announces Relief Measures for SME, Retail Clients

By Editors | 14/02/2020

Relief will be provided on SME property loans, import facilities and retail mortgage loans. The announcement comes after a DBS employee tested positive for Covid-19.