Monetary Authority of Singapore

Fintech / Regtech

MAS Launches Global FinTech Innovation Challenge

By Editors | 08/06/2020

The competition will seek innovative solutions that can help financial institutions respond to two critical global challenges: Covid-19 and climate change.

Market Infrastructure

BNY, Deutsche to Set Up FX Trading Infrastructure in Singapore

By Editors | 08/06/2020

Seven major firms have already set up FX pricing and matching engines in Singapore, the result of a MAS initiative to lower routing latencies in the city-state.

AML / KYC

MAS Issues Consultation Response on FRC Framework

By Editors | 07/06/2020

Regulated entities will no longer need to seek MAS approval prior to commencing business arrangements with foreign related corporations; a 14-day ex-post notification will instead be required.

ESG / Sustainability

Singapore Banks Pledge Relief to Landlords Providing Rent Waivers

By Editors | 03/06/2020

Singapore authorities, with the support of banks, have announced a package of measures that will help landlords with existing loan commitments and cashflow needs.

Fintech / Regtech

MAS to Assess Covid-19 Impact on Digital Bank Applicants

By Editors | 03/06/2020

MAS will reportedly interview digital bank applicants to understand the changes in their strategy as a result of Covid-19, including any impacts on their funding and profitability plans.

Enforcement

Singapore Authorities Commence Joint Investigation Into Hyflux

By Editors | 02/06/2020

Water treatment firm Hyflux entered the limelight in 2018 when it tried to restructure nearly S$3bn in debt. The company is suspected of breaching disclosure and accounting rules.

Fintech / Regtech

Singapore to Develop Metrics to Assess Fairness of AI-driven Decisions

By Editors | 28/05/2020

UOB and Element AI will develop fairness metrics for credit risk scoring; HSBC, IAG Firemark Labs and Gradient Institute will develop fairness metrics for customer marketing.

MAS Guidance for Safe Reopening of FIs’ Client-Facing Locations

By Editors | 20/05/2020

FIs will be allowed to reopen more customer service locations from 2 June. MAS will take action against FIs that fail to comply with safe management requirements.

Securities / Derivatives

LCH Launches Central Clearing for Derivatives Referencing SORA

By Manesh Samtani | 19/05/2020

The launch is heralded as a major milestone to deepen liquidity and catalyse the growth of the SORA market. StanChart was party to the first cleared derivatives trade referencing SORA.