Singapore

Resolution & Recovery

Singapore Issues TLAC Consultation

By Editors | 12/04/2018

Monetary Authority aims to bring Singapore in line with Basel III capital treatment of capital holdings from January next year.

Fraud, Scams & Cybercrime

US Resident Pleads Guilty to Singapore Money Laundering

By Editors | 11/04/2018

American convinced victim to make $600,000 investment with promise of 30% return, but instead transferred to Singapore account.

Resolution & Recovery

Singapore Bank Resolution Regime Favours Bailouts Over Credit Bail-ins – Moody’s

By Garima Chitkara | 05/04/2018

Singapore regulations favour bailouts over creditor bail-ins as bail-in buffers only comprise 1-2% of Singapore bank assets, says Moody’s.

AI Risk & Governance

MAS Guidance on AI, Data Analytics In The Works

By Editors | 04/04/2018

Key financial industry stakeholders to co-create guide setting out key principles, best practices to strengthen governance, reduce data misuse risks.

Structural Regulation

Japan Exchange Group to Sell SGX Stake Over Three Years

By Editors | 03/04/2018

JPX to sell stake due to governance code requirements to explain strategic holdings, but says cooperation will continue.

Anti-Money Laundering

MAS Fines StanChart Units $4.9mn for AML/CTF Breaches

By Editors | 20/03/2018

The bank’s Singapore branch and trust unit failed to adequately assess and mitigate risks that clients were trying to avoid CRS reporting obligations.

Cryptocurrency

Money 20/20: MAS Speaks Out on Crypto Risks, Blockchain

By Manesh Samtani | 17/03/2018

In a speech at Money 20/20 Asia, MAS managing director Ravi Menon spoke about the promise of blockchain technology and containing cryptocurrency risks; AML/CTF risks present a “clear and present danger”.

Data Privacy

MAS to Streamline Data Submissions, Reduce Burden for FIs

By Editors | 16/03/2018

Financial institutions will be allowed to decline MAS requests for previously-submitted data; new regulatory returns to be submitted in machine-readable formats.

Conduct, Culture & Accountability

MAS to Weigh in on Bank HR Practices

By Samuel Riding | 15/03/2018

Advisory group will develop best practices for the industry, including more inclusive, skills-based hiring policy.