Singapore

Fraud, Scams & Cybercrime

MAS Bans Two Former Bankers for Fraud, Dishonest Conduct

By Editors | 01/11/2020

The former OCBC treasury advisor placed unauthorised FX trades in client accounts, while the former UOB relationship manager made unauthorised bank transfers.

Reporting & Disclosures

AIMA, Simmons & Simmons Launch ESG Primer for Asia Fund Managers

By Editors | 30/10/2020

The primer contains key concepts and taxonomy, recent regulatory developments impacting Asia fund managers, and a checklist for developing an ESG strategy and roadmap.

Market Abuse

Singapore Courts Charge Two for Cheating, False Trading

By Editors | 30/10/2020

Ex-KTL Global CEO Tan Kheng Yeow and OCBC Securities trading rep Tan Chun Yong are said to have been involved in a conspiracy for false trading.

Conduct, Culture & Accountability

Bovill Research Calls into Question Efficacy of FCA’s SMCR

By Shruti Khairnar | 28/10/2020

The FCA’s experience with SMCR could inform senior management regimes in other jurisdictions such as Singapore, Australia and Hong Kong.

Tokenisation

DBS to Launch Digital Exchange, Subject to Regulatory Approvals

By Editors | 28/10/2020

The exchange will offer trading services from fiat currencies to four of the top digital currencies in circulation, as well as capital raising through STOs.

Structural Regulation

MAS Seeks Removal of REIT Manager for SFA Breaches

By Editors | 27/10/2020

Eagle Hospitality REIT Management breached the minimum base capital and financial resources requirements under the SFA three times in the span of about a year.

Market Abuse

Singapore: Ex-Fund Manager Charged for Acts Likely to Defraud Investors

By Editors | 27/10/2020

The former fund manager allegedly sold bonds at lower-than-market prices from one fund he managed to another fund, knowing there were higher offers for the same bonds.

Structural Regulation

Singapore Publishes Timelines, Guidance to Support Transition to SORA

By Manesh Samtani | 27/10/2020

Under the timelines, all lenders and borrowers will stop issuing SOR-linked loans and securities that mature after 2021 by end-April 2021.

Fraud, Scams & Cybercrime

Singapore Police Charge Ex-Remisier with Criminal Breach of Trust

By Sanday Chongo Kabange | 26/10/2020

Over six years, an 86-year-old client entrusted money to the remisier for the purposes of buying shares but no shares were ever purchased.