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Payments & Settlements
Singapore Banks to Automate GIRO Application Process
By Darien Choong | 08/11/2021
The current GIRO application process takes three to four weeks to complete. The eGIRO service will reduce turnaround time to a few minutes for consumers.
Trading & Investment
MAS Proposes to Ease Retail Investor Access to Funds
By Manesh Samtani | 04/11/2021
Under the changes, only a small group of more complex CIS would continue to be considered complex products and subject to additional disclosure requirements.
Cryptocurrency
MAS Sees “A Lot of Promise” in Crypto Space: Ravi Menon
By Manesh Samtani | 03/11/2021
MAS is seeking to develop crypto technology and better understand smart contracts as it prepares for Singapore to become a “tokenised economy” by 2030.
Resolution & Recovery
MAS to Implement Contractual Recognition Requirement
By Mark Johnston | 03/11/2021
Singapore banks have three years to ensure their foreign law financial contracts recognise MAS’ temporary stay powers regarding termination rights.
Cybersecurity
MAS Advisory Panel Offers Recommendations on Cybersecurity
By Editors | 31/10/2021
The Cyber Security Advisory Panel said security awareness and competency in the blockchain space are “not where they needed to be”.
Payments & Settlements
Singapore Sees Launch of DLT-based Payment Platform, Partior
By Editors | 27/10/2021
With its genesis in MAS’ Project Ubin, Partior was founded by DBS, JPMorgan and Temasek last year seeking to disrupt the traditional cross-border payments model.
Climate Risk
RBNZ Outlines Action Plan for Addressing Climate Risks
By Sanday Chongo Kabange | 27/10/2021
The RBNZ will develop a guidance note to support regulated entities in managing climate risks, focusing on physical, transition and liability risks.
Trading & Investment
Deutsche Bank Launches FX Trading Infrastructure in Singapore
By Editors | 27/10/2021
The launch is in line with a MAS objective to develop Singapore into a regional FX trading hub. RBC Capital Markets and Nomura also plan similar launches later this year.
Sustainable Finance
Singapore Launches New Family Office Network, GFO Circle
By Editors | 27/10/2021
The GFO Circle is a “one-of-a-kind” public-private partnership to bring the family office industry together, said MAS executive director Ms Thong Leng Yeng.
Operational Risk
MAS Consults on Revisions to BCM Guidelines
By Manesh Samtani | 23/10/2021
The guidelines emphasise the need for FIs to take an end-to-end view in ensuring the continuous delivery of critical business services and functions.
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