SINGAPORE

Market Infrastructure

DSB Says Australia, Singapore Ready for UPI Reporting

By Editors | 18/10/2024

Australia and Singapore will go live with UPI reporting requirements for OTC derivatives transactions starting from 21 October.

Enforcement

CFTC Fines Singapore’s Olam Group for Late Reporting of Cotton Sales

By Nithya Subramanian | 30/09/2024

The CFTC said Olam’s failure to promptly report the sales resulted in the publication of inaccurate and misleading information by the USDA.

Crypto / Digital Assets

Singapore Court Grants WazirX Four-Month Conditional Moratorium

By Nithya Subramanian | 27/09/2024

The moratorium allows WazirX four months to resolve customer losses from a $230mn hack the company suffered in July.

Fintech / Regtech

MAS to Continue Suspension of Certain China Remittance Channels

By Nithya Subramanian | 27/09/2024

MAS is still reviewing whether to expand the suspension to corporate and legal entity customers of remittance companies.

Crypto / Digital Assets

MAS Updates Consumer Protection Guidelines for Crypto Firms

By Nithya Subramanian | 26/09/2024

The updated guidelines reflect decisions set out by MAS in November 2023, focusing on consumer access, conflicts of interest and business conduct.

Fintech / Regtech

MAS Forms Panel of Cyber & Technology Resilience Experts

By Nithya Subramanian | 26/09/2024

The panel comprises 13 experts who will advise MAS on technology risks and threats facing the financial sector.

Enforcement

Former Singapore Minister Convicted on Corruption Charges

By Nithya Subramanian | 26/09/2024

In a rare corruption case, S Iswaran has pleaded guilty for receiving kickbacks while in office. Sentencing is on 3 October.

MAS Issues Draft Resolution Planning Guidelines for Insurers

By Editors | 26/09/2024

The proposed guidelines elaborate on the new recovery and resolution planning requirements which come into effect on 1 January 2025.

Enforcement

MAS Imposes Five-Year Ban on Former Nech Capital Trader

By Mark Johnston | 25/09/2024

The former trader executed trades between Nech Capital’s accounts and those of his relatives, causing losses to his employer.