SINGAPORE

Enforcement

Singapore Court Issues First Jail Sentence for 2013 Penny Stock Crash

By Editors | 22/03/2019

Former Ipco International interim CEO Goh Hin Calm was sentenced to three years imprisonment for his role in the 2013 multi-billion-dollar penny stock crash.

AML / KYC

MAS Details Enforcement Outcomes, Priorities in Inaugural Report

By Manesh Samtani | 20/03/2019

The inaugural enforcement report reveals that MAS issued S$16.8mn in financial penalties and S$698,000 in civil penalties over 18 months.

Market Infrastructure

NSE-SGX Final Arbitration Decision Deferred to December 2020

By Editors | 20/03/2019

The deferment means Singapore Exchange will be able to continue offering SGX Nifty products until a long term solution is agreed.

Enforcement

Singapore Court Rules in First Case Involving Cryptocurrency

By Manesh Samtani | 19/03/2019

The Singapore International Commercial Court has ruled that crypto exchange Quoine was liable for a “breach of contract and breach of trust” by reversing seven trades in April 2017.

Market Infrastructure

MAS Publishes Finalised Mandatory Trading Regulations for Derivatives

By Kai Loon Loh | 19/03/2019

Kai Loon Loh and Patrick Phua at global law firm Ashurst sum up the key takeaways from the MAS response to consultative feedback and the now-finalised mandatory trading regulations.

Market Infrastructure

MAS, CFTC Agree to Mutually Recognise Derivatives Venues

By Editors | 14/03/2019

The agreement enables US and Singapore OTC derivatives participants to trade with one another on the same platforms, allowing for more efficient risk management.

Big Picture

MAS’ Ravi Menon on Blockchain Misconceptions – Speech

By Manesh Samtani | 11/03/2019

In a recent speech, MAS managing director Ravi Menon shared his views on blockchain, common misconceptions and use-cases where the technology shows the most promise.

Market Infrastructure

MAS Enhances Guidelines on Technology Risk, Business Continuity

By Editors | 08/03/2019

Both guidelines under consultation continue to emphasise the importance of risk culture, and the roles of the board and senior managers in technology risk and business continuity management.

Fintech / Regtech

MAS Centralises Technology Functions to Drive Digital Transformation

By Editors | 07/03/2019

The MAS’ new Technology Group will centralise its technology capabilities and strengthen supervision of technology risks in the financial sector.