Singapore

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.

Market Infrastructure

SGX Mulls Establishment of New Office in Dubai – Report

By Nithya Subramanian | 25/09/2024

SGX is exploring the possibility of opening an office in Dubai as a number of major funds relocate to the UAE.

Fintech / Regtech

DBS AI Programme Featured in Harvard Business School Study

By Thisanka Siripala | 25/09/2024

This is the first time an Asian bank or a Singaporean company has been featured by HBS for use in educational programmes.

Enforcement

MAS Suspends Qoo10 Payment Services Over Merchant Complaints

By Nithya Subramanian | 24/09/2024

MAS ordered the suspension after Qoo10 failed to demonstrate that it had the necessary resources to fulfill its payment obligations.

AML / KYC

Japanese Crime Bosses Had Singapore Connection – Report

By Nithya Subramanian | 23/09/2024

Three leaders of the Rivaton Group, which allegedly laundered funds for criminal groups, resided in and were directors of companies in Singapore.