Singapore

AML / KYC

MAS Adopts FATF Standards on VASPs in Payment Services Act

By Manesh Samtani | 28/12/2019

MAS has proposed amendments will align the Payment Services Act with the most recent enhancements to the FATF Standards in relation to virtual asset service providers.

Crypto / Digital Assets

MAS Consults on Application of Payment Services Act to Stablecoins

By Manesh Samtani | 26/12/2019

MAS seeks views on whether stablecoin holders deserve the same regulatory protections as e-money, and whether other regulations should be introduced to maintain price stability.

Enforcement

MAS Revokes Fund Manager’s CMS Licence for Regulatory Breaches

By Editors | 16/12/2019

The CMS licensee is a Singapore company set up by CT Bright Holdings Limited, a joint investment vehicle formed by Thai conglomerate CP Group and Japan’s ITOCHU Corporation.

Market Infrastructure

MAS Forms Culture and Conduct Steering Committee for Insurance

By Editors | 13/12/2019

The steering committee will monitor trends and identify emerging issues, and collaborate with MAS on initiatives to promote strong culture and conduct in Singapore’s insurance industry.

ESG / Sustainability

ASEAN Regulators Are Shoring Up Climate Safeguards: WWF

By Manesh Samtani | 10/12/2019

In a new report, WWF Singapore says ASEAN financial regulators and banking associations are increasing their expectations on banks to assess and mitigate climate and environmental risk.

Fintech / Regtech

Singapore Brokerages to Enter Race for Digital Bank Licences

By Garima Chitkara | 04/12/2019

Domestic brokerages Phillip Securities and iFAST prepare to draw up applications digital banking licence to fend off competition from foreign entrants and domestic banks expanding into brokerage business.

ESG / Sustainability

Almost All SGX Companies Produce Sustainability Reports Since Mandate

By Editors | 04/12/2019

99.8% of SGX listed companies have produced sustainability reports, according to a joint review conducted by SGX RegCo and the Centre for Governance, Institutions and Organisations.

Capital / Liquidity

MAS Highlights FX Liquidity, Cyber Risk in Latest FSR

By Manesh Samtani | 02/12/2019

In its latest Financial Stability Review, the MAS highlights pressures on foreign currency liquidity and the potential impacts of a cyber attack on Singapore banks and their service providers.

Enforcement

Third Individual Jailed in SGX Derivatives Spoofing Case

By Editors | 29/11/2019

The former proprietary trading firm director furnished a false statement to SGX Derivatives Trading with the intent of deceiving it about trading activities in futures contracts.