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SINGAPORE
Sanctions
DBS Expands Team Handling Russian Wealth Assets – Report
By Editors | 07/12/2024
DBS said every client is treated on his or her own merits and that the bank does not deal with sanctioned individuals.
Fintech / Regtech
MAS Issues Information Paper on AI Model Risk Management
By Nithya Subramanian | 06/12/2024
The paper sets out good practices for managing risks associated with AI, including GenAI, based on a thematic review of banks’ practices.
Fintech / Regtech
MAS Extends Deadline to Cease Corporate Cheque Processing
By Nithya Subramanian | 05/12/2024
MAS also launched a consultation paper proposing a roadmap to sunset corporate cheques and a transition plan for retail cheques.
ESG / Sustainability
MAS Issues Guidance for ESG Funds on Good Disclosure Practices
By Nithya Subramanian | 05/12/2024
The information paper aims to promote clear disclosures to help retail investors understand the key features and risks of ESG funds.
Enforcement
Fugitive Singaporean Tycoon Nabbed After Absconding for 19 Years
By Nithya Subramanian | 04/12/2024
The tycoon and his wife were arrested in Malaysia after allegedly embezzling over $51mn and fleeing Singapore in 2005.
ESG / Sustainability
Australia Pledges Investments under Singapore’s FAST-P Initiative
By Nithya Subramanian | 04/12/2024
The Australian government’s first investment will support clean energy and sustainable infrastructure projects across Southeast Asia.
Fintech / Regtech
DBS, EnterpriseSG, IMDA Launch Programme to Upskill SMEs on GenAI
By Nithya Subramanian | 03/12/2024
The programme offers SMEs a “structured, simplified approach” to discover use cases and practical applications of GenAI solutions for their business operations.
Enforcement
MAS Fines JPMorgan Over Misconduct by Relationship Managers
By Nithya Subramanian | 03/12/2024
JPMorgan relationship managers misrepresented the price components in OTC bond transactions and overcharged clients.
ESG / Sustainability
Singapore’s Top Companies Lead Global Sustainability Efforts: KPMG
By Nithya Subramanian | 03/12/2024
KPMG survey finds all of Singapore’s top 100 companies report on sustainability. However, challenges remain that warrant further attention.
Securities / Derivatives
MAS Finalises New Leverage, Disclosure Requirements for REITs
By Nithya Subramanian | 29/11/2024
A minimum interest coverage ratio of 1.5 times and a 50 percent aggregate leverage cap apply to all REITs with immediate effect.
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