Singapore

MAS Proposes New Format for Reporting Financial Advisor Complaints

By Editors | 05/09/2019

Collecting data in a machine-readable format will increase efficiency by removing the need for manual processes and reducing the risk of human errors, MAS says in a consultation paper.

Market Infrastructure

GRI Sets Up in Singapore to Promote Sustainability Reporting in ASEAN

By Editors | 04/09/2019

The new ASEAN hub will generate valuable know-how for ESG reporting and sustainable finance, and contribute to Singapore’s development as a financial centre, says SGX CEO Tan Boon Gin.

AML / KYC

Singapore Police, Banks Collaborate to Thwart Scammers

By Editors | 03/09/2019

Since the Anti-Scam Centre was set up in June, DBS, OCBC and UOB have frozen 815 bank accounts and recovered S$840,000 in scam-related losses.

Market Infrastructure

Singapore Takes Steps to Transition Away from SOR

By Editors | 02/09/2019

Singapore’s banking body and foreign exchange market committee have identified SORA as “the most robust and suitable” alternative interest rate benchmark to SOR.

Fintech / Regtech

MAS Opens Applications for Digital Bank Licences

By Editors | 30/08/2019

Successful applicants will be announced in mid-2020, with the expectation that they meet MAS requirements and commence business by mid-2021.

Capital / Liquidity

MAS Offers Banks Guidance on Managing Loan Collateral

By Editors | 24/08/2019

In a review of collateral management standards and practices banks use when lending to corporates, MAS has identified four key areas that need improvement.

Capital / Liquidity

Singapore Large Exposures Rules to Take Effect in Oct 2020

By Editors | 22/08/2019

MAS published a draft large exposures framework in early 2018, trying to meet the BCBS timeline for adoption in January 2019. The final rules will now take effect in October next year.

AML / KYC

NTU Singapore to Develop New Tools to Fight Money Laundering

By Editors | 22/08/2019

Supported by the MAS and Singapore’s major banks, the project seeks​ to help wealth managers address money laundering risks with new AI and machine learning capabilities.

AML / KYC

Singapore Crypto Sector Consults on AML/CFT Code of Practice

By Editors | 15/08/2019

The code was facilitated by MAS and developed in consultation with ABS by ACCESS, the Association of Cryptocurrency Enterprises and Start-ups, Singapore.