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AML / KYC
OCBC Received Police Award for Foiling Fraud Attempt
By Editors | 15/04/2019
OCBC was able to recover $205,000 from a Malaysian bank after a transaction was flagged by its fraud surveillance unit as not fitting the client’s usual patterns.
Market Infrastructure
MAS Proposes Payment Services Regulations for Consultation
By Manesh Samtani | 11/04/2019
To effect the objectives of the Payment Services Act passed in January, MAS intends to prescribe new regulations for payment services licensees and significant payment systems.
Enforcement
MAS Bans Former HSBC, UOB Employees for ‘Egregious’ Misconduct
By Editors | 11/04/2019
Three individuals have received lengthy bans, in addition to jail terms, for “criminal conduct at the expense of their customers”.
AML / KYC
MAS Renews Call for Use of Data Analytics in AML/CFT Programmes
By Manesh Samtani | 09/04/2019
MAS has renewed calls for financial institutions to further develop their data analytics capabilities in the interest of improving the effectiveness of their AML/CFT programmes.
Market Infrastructure
The Impact of Culture and Conduct – Industry’s Biggest Blind Spot
By Prasanna Venkatesan | 09/04/2019
Looking beyond regulations aimed at cultural reform, Synpulse’s Prasanna Venkatesan discusses how conduct and culture can be operationalised, measured and managed in private banking.
Market Infrastructure
NSE, SGX Reach Agreement on India Derivatives
By Editors | 01/04/2019
NSE and SGX have reportedly finalised an agreement that will enable SGX to offer trading in Nifty derivatives to Singapore investors through a special purpose vehicle operating as a broker at GIFT City.
Market Infrastructure
EU, Singapore Adopt Decision to Mutually Recognise Derivatives Venues
By Editors | 01/04/2019
The European Commission recognises Singapore trading venues as MiFIR-compliant; MAS has exempted EU trading facilities from its markets licensing requirements.
Market Infrastructure
The MAS Approach to Cultivating Ethical Culture in Banking
By Manesh Samtani | 29/03/2019
MAS emphasises incentive structures as the key to driving ethical behaviour and encourages banks to adopt good practices highlighted in a new information paper.
Enforcement
Singapore Charges Three for Spoofing Index Futures
By Editors | 28/03/2019
In a MAS-CAD joint investigation, three individuals are being charged for allegedly spoofing SGX-MSCI index futures and giving false statements to SGX.
Securities / Derivatives
SGX Bolsters Forex Business with BidFX Acquisition
By Editors | 28/03/2019
The acquisition is part of SGX’s strategy to build core pillars of growth across multiple asset classes, with FX being one of its key growth pillars.
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