Singapore

Structural Regulation

ISDA, FIA Respond to Singapore, Australia BMR Equivalence

By Manesh Samtani | 19/04/2019

The associations say a preferred approach would be to recognise Singapore’s and Australia’s regimes as a whole rather than the current benchmark-by-benchmark approach.

Anti-Money Laundering

Singapore Charges its First National for Terrorism Financing

By Editors | 17/04/2019

Singapore’s Ministry of Home Affairs has confirmed that a Singaporean man has been charged for allegedly financing the publication of ISIS propaganda.

Fraud, Scams & Cybercrime

OCBC Received Police Award for Foiling Fraud Attempt

By Editors | 15/04/2019

OCBC was able to recover $205,000 from a Malaysian bank after a transaction was flagged by its fraud surveillance unit as not fitting the client’s usual patterns.

Payments & Settlements

MAS Proposes Payment Services Regulations for Consultation

By Manesh Samtani | 11/04/2019

To effect the objectives of the Payment Services Act passed in January, MAS intends to prescribe new regulations for payment services licensees and significant payment systems.

Structural Regulation

US SEC Recognises NZX as Designated Offshore Market

By Editors | 11/04/2019

NZX participants will no longer be required to maintain a reasonable belief that clients are non-US domiciled persons in order to trade on their behalf.

Fraud, Scams & Cybercrime

MAS Bans Former HSBC, UOB Employees for ‘Egregious’ Misconduct

By Editors | 11/04/2019

Three individuals have received lengthy bans, in addition to jail terms, for “criminal conduct at the expense of their customers”.

Anti-Money Laundering

MAS Renews Call for Use of Data Analytics in AML/CFT Programmes

By Manesh Samtani | 09/04/2019

MAS has renewed calls for financial institutions to further develop their data analytics capabilities in the interest of improving the effectiveness of their AML/CFT programmes.

Conduct, Culture & Accountability

The Impact of Culture and Conduct – Industry’s Biggest Blind Spot

By Prasanna Venkatesan | 09/04/2019

Looking beyond regulations aimed at cultural reform, Synpulse’s Prasanna Venkatesan discusses how conduct and culture can be operationalised, measured and managed in private banking.

Clearing & Post-Trade

SWIFT Sees Growing ISO 20022 Adoption in Asia Pacific

By Manesh Samtani | 03/04/2019

SWIFT has released a new report on the state of adoption of the ISO 20022 financial messaging standard among Asia Pacific securities market infrastructures.