Singapore

ESG / Sustainability

Singapore Fund Managers Highlight Political Risk: IMAS Survey

By Garima Chitkara | 27/01/2018

Majority of respondents expect to follow multi-asset strategy in response to political pressures; managers also concerned about fintech disruption and compliance costs.

Enforcement

Singaporean Jailed for 4 Months for ‘False Trading’

By Editors | 24/01/2018

Mok Piak Liang convicted of manipulating share price to push up value of stock pledged to margin account and avoid having to top-up account by other means.

AML / KYC

MAS to End Pre-Approval Requirement for Non-Face-to-Face KYC

By Samuel Riding | 17/01/2018

Regulator says money changers, remittance firms don’t need pre-approval for video-onboarding and other tech, but must have non-face-to-face procedures audited.

AML / KYC

Singapore Activates 61 AEOI Relationships for 2018

By Editors | 17/01/2018

The country will automatically exchange tax information from January 2017 with 61 countries under the OECD’s Common Reporting Standards.

Crypto / Digital Assets

MAS in Talks with Blockchain Firm Ripple on Cross Border Payments

By Manesh Samtani | 15/01/2018

Ripple chief says technology can speed up cross-border transactions from days to second, save banks trillions in collateral held against settlement risks.

AML / KYC

Singapore to Enforce AML/CTF Rules on Cryptocurrency Intermediaries

By Garima Chitkara | 10/01/2018

Deputy prime minister says no major AML lapses have been found at Singapore banks when asked about ‘Russian Laundromat’ probe.

Capital / Liquidity

Singapore Proposes Changes to Large Exposure Rules

By Garima Chitkara | 08/01/2018

MAS to impose large exposures limit of 25 percent of tier 1 capital on any counterparty or single counterparty group; will include large exposures to banks.

Capital / Liquidity

MAS to Expand Range of Eligible Collateral to Include Commodities for IRB Banks

By Editors | 21/12/2017

Banks using internal ratings for credit risk under Basel guidelines will be allowed to have commodities as physical collateral.

AML / KYC

Singapore Issues 7th, 8th Bans Related to 1MDB Probe

By Editors | 20/12/2017

Yeo Jiawei, a former BSI wealth manager, gets lifetime ban to add to his convictions for 1MDB related money laundering, cheating and witness tampering.