SINGAPORE

ESG / Sustainability

Singapore Offers Grants to Help Firms in Sustainability Reporting

By Nithya Subramanian | 04/03/2024

The grant will help companies cover a portion of their costs in producing their first sustainability report in Singapore.

Fintech / Regtech

Singapore Readies New Act to Boost Digital Resilience

By Nithya Subramanian | 01/03/2024

The new Digital Infrastructure Act will improve accountability of cloud services and data centre operators, which are crucial to the financial sector.

Enforcement

SG Firm Allegedly Swindled JPY 135 Billion in Japan’s Largest Scam

By Nithya Subramanian | 01/03/2024

Sky Premium International has been accused of involvement in foreign exchange margin trading, labeled as an illegitimate “pyramid scheme”, wooing investors through a network of 570 salespeople.

AML / KYC

“Money Lock” is Effective in Scam Protection: Singapore Minister

By Nithya Subramanian | 01/03/2024

Minister Alvin Tan said there have been no scam reports involving funds under Money Lock, and that other banks will roll out the feature by mid-2024.

Securities / Derivatives

MAS Updates Guidelines for Fund Management Companies

By Manesh Samtani | 29/02/2024

The main amendment concerns compliance arrangements FMCs should have in place. MAS also reminded auditors of their FMC-related obligations.

ESG / Sustainability

SG to Introduce Mandatory Climate Disclosures from FY 2025

By Nithya Subramanian | 29/02/2024

The requirements will be implemented in a phased manner starting with listed companies in 2025 and large non-listed companies two years later.

Crypto / Digital Assets

HashKey OTC Arm Gets On-Principle Approval in Singapore

By Nithya Subramanian | 29/02/2024

In-principle approval brings HashKey OTC a step closer to being fully regulated in Singapore.

AML / KYC

Singapore Issues First Designation Under Foreign Interference Law

By Manesh Samtani | 28/02/2024

Businessman Philip Chan was designated as a “politically significant person” for his “susceptibility to be influenced by foreign actors.”

AML / KYC

Singapore and Malaysia Join Forces to Combat Telecom Scams

By Ranamita Chakraborty | 28/02/2024

Both countries have signed an MoU to provide regulatory assistance and cooperation related to scam telephone calls and text messages.