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AML / KYC
Singapore Authorities Issue First Charges in Wirecard Probe
By Editors | 08/08/2020
A director of Citadelle Corporate Services is said to have “wilfully and with intent to defraud” stated false balances held in escrow on behalf of Wirecard in 2016 and 2017.
Fintech / Regtech
MAS to Set Up Regional Digital Finance Institute
By Sanday Chongo Kabange | 06/08/2020
The Asia Institute of Digital Finance will be jointly operated by MAS, the National Research Foundation and the National University of Singapore.
Market Infrastructure
MAS Announces New Initiatives to Support SORA Adoption
By Editors | 05/08/2020
The initiatives aim to catalyse greater activity in SORA markets, safeguard the benchmark’s integrity and enhance market confidence in SORA.
Market Infrastructure
APAC Firms Lag in IBOR Transition Preparation – Report
By Manesh Samtani | 05/08/2020
Apart from G-SIBs operation in the region, APAC firms are not prepared for the transition away from IBORs, according to a new report from Sia Partners.
AML / KYC
MAS Issues Guidance on AML/CTF Enterprise-wide Risk Assessments
By Manesh Samtani | 04/08/2020
Financial institutions are directed to study the guidance to identify and address gaps in their EWRA frameworks and processes.
Market Infrastructure
MAS Awards StanChart Special Privileges for ‘Significant Rootedness’
By Manesh Samtani | 04/08/2020
The regulator also has plans to allow certain banks that are significantly rooted in Singapore to obtain full bank licences and set up digital-only subsidiaries.
ESG / Sustainability
Culture Audits: Removing the Blindfold
By Stephen Scott | 03/08/2020
To avoid individual liability, leaders along all Three Lines of Defence must identify indicators of non-financial risk that permit “upstream” interventions, say Stephen Scott and Mark Cooke.
Market Infrastructure
Singapore Industry Consultation Proposes to Discontinue SIBOR
By Manesh Samtani | 29/07/2020
Proposed reforms were found to display “noticeable differences in volatility and levels compared to SIBOR”, which will present challenges to industry adoption.
Capital / Liquidity
MAS Asks Singapore-headquartered Banks to Cap Dividends
By Editors | 29/07/2020
Locally-headquartered banks are asked to cap fiscal 2020 dividends as a pre-emptive measure to ensure sustained lending given “significant uncertainties” ahead.
Crypto / Digital Assets
Philippines Launches DLT-based Distribution of Retail Treasury Bonds
By Sanday Chongo Kabange | 29/07/2020
The launch of ‘Bonds.PH’ paves the way for the unbanked to affordably and easily invest in retail treasury bonds, said National Treasurer Rosalia V. De Leon.
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