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Trading & Investment
Indian Exchanges Seek CFTC Approval for GIFT City Derivatives
By Garima Chitkara | 04/05/2018
NSE and BSE are looking to sell derivatives traded at GIFT City exchanges to American investors; aimed at countering competition with SGX, which is launching its own Indian equity derivatives offering in June.
Clearing & Post-Trade
Singapore to Mandate Central Clearing of OTC Derivatives
By Editors | 02/05/2018
Mandatory clearing to apply to SGD and USD fixed-floating interest rate swaps; applicable to banks with OTC derivatives exceeding SGD20 bn.
Conduct, Culture & Accountability
Singapore Raises Accountability, Conduct Standards at FIs
By Garima Chitkara | 30/04/2018
MAS has released guidelines on promoting individual accountability of senior managers, strengthening employee oversight, and embedding ‘proper conduct’ standards at financial institutions.
Cloud & Infrastructure
Singapore, Vietnam Sign Fintech, Banking Supervision Agreement
By JP Reimann | 26/04/2018
The central banks have agreed on a partnership to encourage fintech innovation and strengthen banking supervision.
Capital Adequacy
Asia to Miss Key 2018, 2019 Basel III Deadlines – BIS report
By Garima Chitkara | 26/04/2018
Most Asian jurisdictions are behind on implementing counterparty credit risk measures, capital for CCP exposures as well as TLAC, IRRBB and LEX requirements.
KYC & CDD
Banks Should Implement Wolfsberg KYC Initiative – MAS
By JP Reimann | 23/04/2018
MAS urges Singaporean banks to incorporate Wolfsberg due diligence questionnaire in risk assessment processes relating to correspondent banking relationships.
Data Privacy
Singapore Moves Towards Open Banking Without Regulatory Mandate
By Garima Chitkara | 16/04/2018
MAS chief data officer says data sharing between financial firms will happen “organically” without need for regulatory mandate; may release guidelines on ethical data practices.
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.
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