Singapore

Fintech / Regtech

Singapore’s 2024 Budget Introduces Reforms to Boost Investment

By Ranamita Chakraborty | 20/02/2024

Singapore’s budget includes a new investment incentive scheme and other measures that will benefit the financial sector.

AML / KYC

Singapore Scam Cases Skyrocket by 46.8% in 2023: SPF

By Ranamita Chakraborty | 19/02/2024

Singapore Police reported a nearly 50% year-on-year increase in scam cases for 2023, though a slight reduction in losses.

Market Infrastructure

MAS Issues Additional Guidance for New Derivatives Reporting Regime

By Manesh Samtani | 16/02/2024

New FAQs are provided to support implementation of the new OTC derivatives reporting regime, which comes into force in October.

ESG / Sustainability

Top ASEAN Exchanges to Jointly Develop Sustainability Ecosystem

By Ranamita Chakraborty | 15/02/2024

The exchanges will reconvene in July to finalise the ecosystem’s implementation details, governance framework and operating structure.

Crypto / Digital Assets

More Clarity in Rules Key to Tokenisation of VCCs

By Nithya Subramanian | 15/02/2024

Tokenising VCCs provides the opportunity to drive greater operational cost efficiencies across the fund lifecycle and explore new business models.

AML / KYC

Singapore: More Charges Laid Against Nickel Trading Fraudster

By Nithya Subramanian | 11/02/2024

Ng Yu Zhi was arrested in February 2021 and now faces 108 charges. His bail was revoked following the discovery of a secret HSBC account.

Enforcement

Former CEO of Aon Singapore Charged With Bribery

By Nithya Subramanian | 09/02/2024

Collin Chiew has been accused of receiving SGD 668,000 in bribes and faces five counts of corruption as well as a money laundering charge.

ESG / Sustainability

Gprnt: Simplifying ESG Data Management for Financial Services

By Ranamita Chakraborty | 09/02/2024

Industry experts anticipate the MAS-led digital ESG platform, Gprnt, will improve sustainability reporting across the real economy and financial sector.

Fintech / Regtech

DBS Cuts CEO Compensation Over Digital Banking Disruptions

By Ranamita Chakraborty | 08/02/2024

MAS set expectations last November for DBS to hold its senior management accountable for digital banking disruptions that occurred last year.