Singapore

Securities / Derivatives

DBS Launches New Multi Family Office Platform for UHNW Families

By Sanday Chongo Kabange | 19/06/2023

The new platform is established as an umbrella VCC, with multiple underlying sub-funds that clients can use to manage their assets.

Fintech / Regtech

MAS Supports Balanced Approach to BNPL Regulation

By Editors | 16/06/2023

MAS said overly strict regulations would unnecessarily restrict BNPL providers and limit consumer choices.

AML / KYC

Singapore Minister Calls for Global Cooperation on Scams

By Karen Ng | 15/06/2023

Minister of State Sun Xueling said every country needs to set up the equivalent of an Anti-Scam Command and participate in information sharing

Crypto / Digital Assets

MAS Grants Crypto Bank Sygnum In-Principle Licence Approval

By Editors | 14/06/2023

Sygnum said it would expand its Singapore offering to include regulated crypto brokerage services, available to accredited and institutional investors.

Capital / Liquidity

MAS Finalises Implementation Timelines for Basel III Reforms

By Ranamita Chakraborty | 13/06/2023

All the reforms will be effective in Singapore from 1 July 2024, except the revised market risk framework and CVA standards. The output floor will be phased in over five years.

Capital / Liquidity

UBS Closes Credit Suisse Deal, Imposes ‘Red Lines’ on Bankers

By Manesh Samtani | 13/06/2023

FINMA said its intensive supervision will “definitely continue”. MAS said it expects both banks to handle the implications for jobs “responsibly”.

Fintech / Regtech

MAS Launches Annual FinTech Hackcelerator, Focusing on ‘AI in Finance’

By Sanday Chongo Kabange | 13/06/2023

Fintech firms and solution providers are invited to address 16 problem statements related to AI in the financial services industry.

ESG / Sustainability

MAS Calls on Banks to ‘Carefully Assess’ Client Transition Plans

By Ranamita Chakraborty | 09/06/2023

MAS will issue a consultation on transition planning later this year. A new association will be formed to foster a dynamic ecosystem for green and transition finance.

ESG / Sustainability

Climate Impact X Launches Spot Trading Platform for Carbon Credits

By Ranamita Chakraborty | 08/06/2023

**CIX told Regulation Asia that it is seeking alignment with IOSCO’s principles for commodity price benchmarks – a detailed set of guidelines relating to governance and control systems.
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