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AI Risk & Governance
MAS Announces Completion of Phase One of Veritas Initiative
By Editors | 06/01/2021
The first phase of Veritas resulted in the development of a fairness assessment methodology based on the FEAT principles for two use cases.
Cloud & Infrastructure
MAS Consults on Proposed Notices for Outsourced Services
By Manesh Samtani | 21/12/2020
Banks’ outsourcing agreements must include terms that grant MAS the right to audit the outsourced arrangement and obtain information from the service provider.
Operational Risk
MAS Consults on Operational Risk Capital, Leverage Ratio Requirements
By Editors | 17/12/2020
MAS intends to implement the revised standards for operational risk capital and leverage ratio requirements from 1 January 2023.
Payments & Settlements
Singapore to Review E-wallet Payment Limits in 2021
By Editors | 17/12/2020
Currently, e-wallet users in Singapore can hold up to S$5,000 in their accounts at any one time, and transactions are capped at S$30,000 per year.
Cryptocurrency
SFC Issues First Licence to Digital Asset Trading Platform
By Editors | 16/12/2020
The licences permit OSL Digital Securities to operate regulated brokerage and automated trading services for digital assets.
Sustainable Finance
SGX Launches New Sustainability Platform, Plans New ESG Products
By Manesh Samtani | 16/12/2020
SGX is bringing third-party ESG ratings to Singapore listed companies and will introduce new ESG-focused investment and risk management products.
Cloud & Infrastructure
Vizor Recognised for API Innovation and Regulatory Reporting Solution
By Editors | 15/12/2020
Vizor Software was launched a Reporting API that allows FIs to consume machine-readable reporting rules and data models directly from regulators.
Structural Regulation
StanChart Permitted to Establish Digital Bank in Singapore
By Editors | 14/12/2020
StanChart was named Singapore’s first Significantly Rooted Foreign Bank in August. New privileges allow it to secure an additional full bank licence to establish a digital banking subsidiary.
Operational Risk
Improving Operational Resilience: A Priority for the Year Ahead
By David LaFalce | 14/12/2020
DTCC’s David LaFalce highlights the need for firms to remove manual processes, re-evaluate their interconnectedness, and seek out opportunities for industry collaboration.
Trading & Investment
SGX to Promote China Bond Markets, MAS Registers Shanghai Office
By Editors | 13/12/2020
A series of MOUs to deepen collaboration in financial services and innovation were announced at the 2nd Singapore-Shanghai Comprehensive Cooperation Council meeting on Friday.
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