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Climate Risk
Singapore Reviewing Carbon Price Trajectory, says MAS Chief
By Ranamita Chakraborty | 21/07/2021
The government is reviewing its targets for the price of carbon to ensure it helps Singapore meet its climate commitments.
Tokenisation
SFC Issues Warning on Unregulated Virtual Asset Platforms
By Editors | 18/07/2021
Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.
Conduct, Culture & Accountability
MAS to Refine Financial Advisory Remuneration Rules
By Manesh Samtani | 15/07/2021
MAS proposes to refine the tier structure requirements and clarify the types of remuneration that can be paid as overriding benefits.
Fraud, Scams & Cybercrime
MAS, ABS Working to Improve Safeguards Against Scams – Reports
By Ranamita Chakraborty | 14/07/2021
A task force has been set up to help Singapore’s financial industry improve safeguards against scams and fraudulent transactions.
Anti-Money Laundering
MAS Proposes Additional AML/CFT Requirements for FIs
By Manesh Samtani | 13/07/2021
MAS proposes requirements for dealings in precious stones and metals, transactions involving digital payment tokens, and customers that may be considered higher risk shell companies.
Climate Risk
International Organisations to Launch Climate Training Alliance
By Editors | 12/07/2021
The initiative will see the establishment of a dedicated online portal for global training on climate risks for central banks and supervisors.
AI Risk & Governance
MAS Launches ‘Veritas Challenge’ to Strengthen Trust in AI
By Manesh Samtani | 12/07/2021
MAS invites fintechs, solution providers and FIs to submit innovative solutions to help validate the fairness of AI solutions for selected banking use cases.
CBDCs
MAS, Banque de France Complete m-CBDC Experiment
By Sanday Chongo Kabange | 11/07/2021
The experiment showed the potential to reduce the number of correspondent banking parties involved in the payment chain for cross-border transactions.
Structural Regulation
MAS Consults on Revised Reporting Rules for OTC Derivatives
By Manesh Samtani | 06/07/2021
The amendments aim to facilitate the aggregation of OTC derivatives data through standardisation and harmonisation of data elements by incorporating the CPMI-IOSCO technical guidance.
Credit Risk
MAS Further Extends Facility to Support SME Lending
By Manesh Samtani | 06/07/2021
Government risk sharing and lower-cost funding will keep borrowing costs low for local enterprises as they recover and adapt to the new normal, MAS said.
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