SINGAPORE

Crypto / Digital Assets

MAS Grants MPI License to Crypto Market Maker GSR

By Nithya Subramanian | 05/04/2024

The new licence enables GSR Markets to offer marketing making and over-the-counter trading services in Singapore.

Market Infrastructure

Singapore Tables Bill in Parliament to Amend Cybersecurity Act

By Nithya Subramanian | 04/04/2024

Under the amendments, data centres, cloud services and other foundational digital infrastructure will be subject to a “light-touch” regulatory treatment.

Singapore to Implement Vulnerable Customer Safeguards in H2 2025

By Nithya Subramanian | 03/04/2024

Lawrence Wong said MAS aims to issue revised standards by Q4 2024, for implementation by the industry no later than H2 2025.

AML / KYC

Singapore Secures First Conviction in ‘Billion Dollar Money Laundering’ Case

By Nithya Subramanian | 03/04/2024

Cambodian national Su Wenqiang was sentenced to 13 months in jail for money laundering and making false statements to the Ministry of Manpower.

AML / KYC

New Requirements Commencing for Crypto Firms in Singapore

By Manesh Samtani | 02/04/2024

The amendments take effect in stages from 4 April 2024, with transitional arrangements for firms currently conducting activities under the expanded scope of the Payment Services Act.

Fintech / Regtech

Five BNPL Providers to Become Accredited in Singapore

By Nithya Subramanian | 02/04/2024

The five providers are being awarded a Trustmark that will signify their accreditation and compliance with the BNPL Code of Conduct.

Fintech / Regtech

DBS Making Good Progress on Technology Resiliency: CEO

By Nithya Subramanian | 02/04/2024

“Complete clarity” on whether transactions are successful will be made available by end-April, along with options for alternative channels when the system is down.

Securities / Derivatives

RFMCs Have Until 30 June to Apply for New LFMC Licences: MAS

By Nithya Subramanian | 02/04/2024

RFMCs have a three-month window to apply to transition to the LFMC regime, following which the RFMC regime will be repealed on 1 August.

AML / KYC

MAS Proposes to Require Market Operators to Conduct AML/CFT Checks

By Nithya Subramanian | 01/04/2024

The checks would have to be performed on non-FI market participants that trade directly on organised markets without going through capital market intermediaries.