Singapore

AML / KYC

OCBC to Speed Up Police Investigations with Automated Data Retrieval

By Editors | 11/07/2019

OCBC Bank and the Singapore Police Force are collaborating on a new project to reduce the amount of time it takes for investigators to access banking information to just 1-2 days.

Securities / Derivatives

SGX RegCo Announces Changes to Voluntary Delisting Rules

By Editors | 11/07/2019

The new rules require exit offers in conjunction with voluntary delistings to be both “reasonable” and “fair”, and exclude the offeror and concert parties from the shareholder vote.

Enforcement

Singapore Convicts Three Front-Runners Under Insider Trading Laws

By Editors | 11/07/2019

Two First State equity dealers told a UOB Kay Hian remisier about their firm’s intended orders to front-run trades in 100 counters, leading to over S$8mn in insider trading profits over 8 years.

Crypto / Digital Assets

Singapore Proposes GST Exemption for Digital Token Payments

By Editors | 09/07/2019

Transactions involving digital tokens or cryptocurrencies that function or are intended to function as a medium of exchange will be exempt from GST.

Enforcement

Former Barclays Singapore Director Gets 13-Year Jail Term

By Editors | 05/07/2019

The former private banker forged signatures and documents to siphon off $10mn from client bank accounts between 2010 and 2013.

Fintech / Regtech

Singapore Digital Banks to Disrupt Smaller Incumbents the Most

By Editors | 04/07/2019

Singapore’s big banks will be able to defend against new digital entrants, while small foreign-owned incumbents will face the greatest disruption risk, says Moody’s Investors Service.

Securities / Derivatives

MAS Proposes to Relax Requirements for Singapore REITs

By Editors | 03/07/2019

The consultation paper proposes to allow REITs to take on more leverage if they can demonstrate an ability to service their debt with regular income.

Fintech / Regtech

BIS ‘Innovation Hub’ to Set Up in Hong Kong, Singapore

By Editors | 02/07/2019

The BIS Innovation Hub will foster collaboration between central banks and, by extension, help the private sector fully realise ‘new economy’ opportunities.

Market Infrastructure

Singapore Commences Transition Testing for Enhanced SIBOR

By Editors | 01/07/2019

Transition testing will be conducted initially for six months to determine if a transition to the proposed waterfall methodology is possible or if further refinements are needed.