Singapore

Structural Regulation

MAS Consults on Revisions to Banking Act

By Editors | 08/02/2019

Among the amendments are proposals to expand the grounds for which MAS can revoke a bank licence, and expanded circumstances for auditors to report on a bank’s financial soundness.

Cloud & Infrastructure

MAS Proposes New Requirements for Banks’ Outsourced Functions

By Editors | 08/02/2019

The proposals will expand MAS’ powers to impose requirements on banks’ and merchant banks’ outsourcing arrangements, regardless of where outsourced functions are performed.

Cybersecurity

Insurance a Critical Part of Cyber Risk Response – MAS

By Manesh Samtani | 01/02/2019

Only 6% of global cyber insurance premiums come from APAC, said MAS division head Elean Chin at the launch of a new report which reveals the inadequacy of cyber risk preparedness.

Payments & Settlements

MAS Extends Deadline to Implement E-payments User Protection Guidelines

By Editors | 01/02/2019

The MAS is allowing an extra six months for compliance with its e-payments user protection guidelines, following requests from banks for more time to implement system changes.

Clearing & Post-Trade

SGX Lowers Messaging Costs for Market Participants

By Editors | 17/01/2019

SGX’s adoption of SWIFT’s CSD Community Offering for financial messaging is expected to reduce messaging costs by 50% for smaller market participants.

Payments & Settlements

Singapore Parliament Passes Payment Services Act

By Editors | 15/01/2019

The law represents a framework to streamline payment services regulation in Singapore under a single legislation and bring payment activities under the remit of the MAS.

Trading & Investment

Singapore, Philippine Bourses Collaborate on Equity Derivatives

By Editors | 15/01/2019

The SGX and PSE are working on developing new equity index derivatives for listing in the Philippines to offer a more diverse product line to international investors.

Trading & Investment

MAS Announces Grant to Support Stock Listings, Equity Research

By Editors | 15/01/2019

The Grant for Equity Market Singapore, or GEMS, will launch in February, offering funding to facilitate SGX listings and develop the local equity research ecosystem.

Cloud & Infrastructure

Singapore Banking Union Opens to Broader Financial Industry

By Editors | 14/01/2019

The newly renamed Banking and Financial Services Union aims to help professionals stay relevant and competitive amid technological advancement and industry changes.