Singapore

Cloud & Infrastructure

Revised Outsourcing Rules for Banks Take Effect in Singapore

By Manesh Samtani | 16/12/2024

Banks and merchant banks have to maintain a register of outsourced services and re-perform due diligence within 2 years of engaging a service provider.

Fraud, Scams & Cybercrime

Scam Loss Sharing Framework Takes Effect in Singapore

By Manesh Samtani | 16/12/2024

The framework requires FIs and telcos to pay compensation to victims of phishing scams if they breach certain scam prevention duties.

Conduct, Culture & Accountability

SGX Reprimands RHT Capital for Breaching Sponsor Obligations

By Editors | 14/12/2024

RHT Capital failed to advise Y Ventures to promptly disclose that its financial statements contained material errors that were false and misleading

Alternative Markets

Singapore’s Temasek Establishes New Portfolio Dedicated to Private Credit

By Editors | 10/12/2024

Temasek said the move will enhance its ability to capture global private credit opportunities and shape a resilient and forward-looking portfolio.

PEPs & Sanctions

DBS Expands Team Handling Russian Wealth Assets – Report

By Editors | 07/12/2024

DBS said every client is treated on his or her own merits and that the bank does not deal with sanctioned individuals.

AI Risk & Governance

MAS Issues Information Paper on AI Model Risk Management

By Nithya Subramanian | 06/12/2024

The paper sets out good practices for managing risks associated with AI, including GenAI, based on a thematic review of banks’ practices.

Payments & Settlements

MAS Extends Deadline to Cease Corporate Cheque Processing

By Nithya Subramanian | 05/12/2024

MAS also launched a consultation paper proposing a roadmap to sunset corporate cheques and a transition plan for retail cheques.

Reporting & Disclosures

MAS Issues Guidance for ESG Funds on Good Disclosure Practices

By Nithya Subramanian | 05/12/2024

The information paper aims to promote clear disclosures to help retail investors understand the key features and risks of ESG funds.

Anti-Bribery & Corruption

Fugitive Singaporean Tycoon Nabbed After Absconding for 19 Years

By Nithya Subramanian | 04/12/2024

The tycoon and his wife were arrested in Malaysia after allegedly embezzling over $51mn and fleeing Singapore in 2005.