SINGAPORE

    Fintech / Regtech

    Singapore, Korea Agree to Cooperate on Fintech

    By Garima Chitkara | 19/07/2018

    MAS and Korea’s FSC have signed an agreement to provide regulatory support to fintech firms from either country looking to expand in the other.

    Securities / Derivatives

    SGX to Roll Out Central Clearing for Bilateral OTC FX Derivatives

    By Garima Chitkara | 16/07/2018

    Singapore Exchange to launch trading solutions allowing privately negotiated OTC FX trades to be cleared like standard FX futures; launch set for 27 August encompassing five currency pairs, including USD/CNH.

    AML / KYC

    MAS Proposes Amendments to Misconduct Reporting Regime

    By Garima Chitkara | 12/07/2018

    Proposed changes aim to provide greater clarity on requirements and reduce errors in the submission of misconduct reports; reference checks to be mandatory when recruiting staff.

    Market Infrastructure

    AxiomSL Announces Completion of Open Taxonomy to Streamline MAS 610 Compliance

    By Manesh Samtani | 09/07/2018

    Industry initiative has condensed over 300,000 data points required by MAS 610 into 1,000 reuseable business concepts, simplifying and streamlining compliance with the reporting mandate.

    Capital / Liquidity

    SGX Proposes Amendments to Boost Capital Efficiency for Members

    By Manesh Samtani | 08/07/2018

    Proposed amendments include removal of risk-based capital and net liquid capital requirements currently imposed on remote and bank members, among other changes.

    Enforcement

    MAS Reprimands Asset Manager for Late Regulatory Submissions

    By Manesh Samtani | 08/07/2018

    Annual declarations, auditor reports and director change notifications were submitted up to three years late by Taiyo Asset Management; director found guilty of misconduct for failure to implement compliance controls.

    Fintech / Regtech

    Japan’s Line Corp To Launch Crypto Exchange in Singapore

    By Garima Chitkara | 02/07/2018

    Cryptocurrency exchange will be launched outside Japan, with application with Japan FSA still pending; Line Corp looking to capitalise on user base for payments, transfers and asset management services.

    Securities / Derivatives

    SGX Introduces Dual Class Shares Structures

    By Manesh Samtani | 28/06/2018

    New rules on dual class shares will permit equal voting process on certain issues and cap multiple voting shares at 10 votes a share, with sunset clauses to auto-convert them to ordinary voting shares.

    Fintech / Regtech

    Singapore Accelerates Shift to Digital Economy

    By Manesh Samtani | 21/06/2018

    MAS board member Ong Ye Kung pledges to eliminate cheque usage by 2025, while also reducing the need for ATM cash withdrawals, through increased adoption of e-payments.

    Securities / Derivatives

    UPDATED – SGX Granted Extension for Continued India Derivatives Trading

    By Manesh Samtani | 18/06/2018

    SGX, NSE ordered to facilitate continued listing of SGX Nifty products for at least two successive contract months beyond arbitration; injunction preventing SGX from launching new successor products to remain in effect pending final outcome.

    JOIN OUR NEWSLETTER

    A daily selection of top stories from the Regulation Asia editorial team