Singapore

Market Infrastructure

UPDATED – 21 Digital Bank Licence Applications Received: MAS

By Editors | 07/01/2020

MAS will announce the successful applicants in June 2020. The new digital bank licencees will be expected to commence business by mid-2021.

Market Infrastructure

UPDATED – Known Applicants for Singapore Digital Bank Licences

By Manesh Samtani | 05/01/2020

Grab, Singtel, Razer, Ant Financial, V3 Group, EZ-Link, iFast Corporation, ByteDance, AMTD, Xiaomi, PhillipCapital, Temasek, Enigma Group and Singapura Finance are among applicants.

Securities / Derivatives

SGX RegCo Launches Review of Regulatory Framework for Retail Bonds

By Editors | 02/01/2020

The working group tasked with recommending changes to the framework comprises representatives from the Securities Investors Association Singapore, DBS, OCBC, and UOB, among others.

Securities / Derivatives

SGX RegCo to Overhaul Enforcement Approach – Reports

By Editors | 31/12/2019

SGX RegCo chief Tan Boon Gin wants stronger protections against misconduct, faster enforcement outcomes and greater clarity to be provided to the market.

Market Infrastructure

Grab, SingTel Team Up to Apply for Singapore Digital Bank Licence

By Editors | 30/12/2019

Grab and Singtel will respectively hold a 60% and 40% stake in the new consortium entity, which will seek to serve both retail consumers and SMEs.

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.

Capital / Liquidity

Philippine Bourse Seeks Higher Capital Requirements for Brokers

By Editors | 26/12/2019

In the aftermath of a 700-million-peso stock theft, PSE president Ramon Monzon will reportedly propose to more than triple current capital requirements for older firms.

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.

Capital / Liquidity

China State Fund, UOB Among Investors to Rescue Hengfeng Bank

By Editors | 20/12/2019

A unit of China’s state fund, the Shandong government’s asset management arm, and UOB are among those that will invest in new shares to prop up troubled lender Hengfeng Bank.