SINGAPORE

AML / KYC

MAS Fines StanChart Units $4.9mn for AML/CTF Breaches

By Editors | 20/03/2018

The bank’s Singapore branch and trust unit failed to adequately assess and mitigate risks that clients were trying to avoid CRS reporting obligations.

AML / KYC

Money 20/20: MAS Speaks Out on Crypto Risks, Blockchain

By Manesh Samtani | 17/03/2018

In a speech at Money 20/20 Asia, MAS managing director Ravi Menon spoke about the promise of blockchain technology and containing cryptocurrency risks; AML/CTF risks present a “clear and present danger”.

Fintech / Regtech

MAS to Streamline Data Submissions, Reduce Burden for FIs

By Editors | 16/03/2018

Financial institutions will be allowed to decline MAS requests for previously-submitted data; new regulatory returns to be submitted in machine-readable formats.

Market Infrastructure

MAS to Weigh in on Bank HR Practices

By Samuel Riding | 15/03/2018

Advisory group will develop best practices for the industry, including more inclusive, skills-based hiring policy.

Enforcement

MAS, CAD to Jointly Investigate All Capital Markets, Financial Advisory Offences

By Editors | 14/03/2018

MAS and CAD will consolidation investigative resources and expertise for all capital market and financial advisory offences, effective 17 March.

Market Infrastructure

SGX to Merge OTC, Exchange Derivatives into Single Risk Class for Clearing Fund

By Samuel Riding | 14/03/2018

Move follows MAS consultation on moving all OTC derivatives contracts onto organised markets.

Market Infrastructure

SGX, NZX Sign MoU on Market Development, Information Exchange

By Garima Chitkara | 08/03/2018

MoU aimed at promoting market development initiatives in Asia Pacific region, including for derivatives, secondary listings and ETFs.

Market Infrastructure

ASEAN Liberalises Cross-border Funds Framework

By Garima Chitkara | 28/02/2018

ASEAN CIS framework revised to open greater fund participation between Malaysia, Singapore and Thailand.

Capital / Liquidity

FSB Issues Singapore Peer Review

By Samuel Riding | 27/02/2018

Board suggests MAS need to state who is responsible for macro-prudential oversight; wants resolution regime extended to market infrastructure.