Monetary Authority of Singapore

Structural Regulation

MAS Awards Licences to Four Digital Bank Applicants

By Manesh Samtani | 06/12/2020

The licences were awarded to the Grab-Singtel consortium, a Sea Limited subsidiary, an Ant Group entity, and a consortium formed by a Chinese property giant.

Trading & Investment

Macquarie to Set Up Electronic FX Trading Infrastructure in Singapore

By Editors | 04/12/2020

Macquarie’s FX pricing hub will strengthen Singapore’s proposition as a global FX price discovery and liquidity centre, said MAS executive director Lim Cheng Khai.

Trading & Investment

UOB to Set Up Electronic FX Trading Infrastructure in Singapore

By Editors | 03/12/2020

The electronic FX pricing and trading engine will help UOB achieve reduced latency, and aligns with MAS objectives to develop Singapore into a regional FX trading centre.

Credit Risk

MAS Urges Underwriting Prudence as Credit Risks Rise

By Manesh Samtani | 03/12/2020

Banks should maintain prudent credit underwriting standards and continue to actively manage foreign currency risks, MAS says in its financial stability review.

Data Privacy

MAS Proposes to Make Data Breach Offences Compoundable

By Manesh Samtani | 03/12/2020

MAS would be able to take tougher actions against breaches that do not meet the threshold of a criminal prosecution but call for stronger penalties.

Fraud, Scams & Cybercrime

MAS Bans Two Former Insurance Agents for Dishonest Conduct

By Editors | 02/12/2020

Former representatives of Aviva Financial Advisers and Great Eastern Life were banned for misconduct in the selling of integrated shield policies.

Conduct, Culture & Accountability

Singapore Launches Initiative to Groom Future Private Bankers

By Editors | 02/12/2020

Private banks aim to offer 200 undergraduate traineeship positions over the next three years, benefitting from the Work-Study Support Programme recently launched by MAS.

Operational Risk

MAS Revises Anti-commingling Framework For Banks

By Manesh Samtani | 02/12/2020

MAS has prescribed a list of permissible non-financial businesses to ensure banks are not engaging in “high-risk non-financial business that do not bring strategic value to its core banking business”.

Anti-Money Laundering

Lessons from Cryptoassets in the Fight Against Financial Crime

By David Carlisle | 01/12/2020

Elliptic’s David Carlisle and Onchain Custodian’s El Lee discuss opportunities for the banking and cryptoasset industries to learn from one another in the fight against financial crime.