Monetary Authority of Singapore

MAS Issues Advisory to FIs Amid Higher Coronavirus Alert Level

By Editors | 10/02/2020

MAS asks financial institutions to ensure business continuity and warns that cyber threat actors are taking advantage of the novel coronavirus situation to conduct email scams, phishing and ransomware attacks.

MAS Proposes New Requirements for Insurers Managing Par Funds

By Editors | 07/02/2020

Among the new requirements introduced for insurers is an obligation to ensure that any charge or expense allocated to the Par Fund is “fair and reasonable”.

Market Infrastructure

US, Singapore Jointly Declare Opposition to Data Localisation

By Editors | 06/02/2020

The US and Singapore support allowing financial service suppliers to transfer data across borders and oppose generally applicable data localisation requirements.

ESG / Sustainability

MAS to Broaden Range of Climate Risks Included in Stress Tests

By Editors | 05/02/2020

The current priority is to collect climate-related data and understand how it impacts FIs in order to conduct a proper stress test, says MAS board member Ong Ye Kung.

Fintech / Regtech

MAS Sandbox Graduate ‘iSTOX’ Approved for Full Launch

By Editors | 04/02/2020

The iSTOX platform connects buyers and sellers of digitised securities denominated in fiat currencies, catering to institutional and accredited investors in Singapore.

Market Infrastructure

Buy-side Adoption of FX Global Code Lagging: BIS

By Editors | 31/01/2020

More needs to be done to bolster buy-side adoption of the FX Global Code, says MAS deputy managing director Jacqueline Loh, who also chairs the BIS Markets Committee.

AML / KYC

Singapore’s Payment Services Act Comes Into Force

By Manesh Samtani | 28/01/2020

The PS Act gives MAS formal supervisory powers over technology, cybersecurity and AML/CFT controls at payment services firms, including cryptocurrency and e-wallet companies.

Market Infrastructure

Grab, Razer Considering Malaysia Digital Bank Licences – Report

By Editors | 24/01/2020

CIMB, Hong Leong Bank, Maybank, Grab, Razer, AirAsia, Axiata are reportedly considering submitting bids for Malaysian digital bank licences.

Market Infrastructure

Singapore, Brunei Central Banks to Expand Cooperation

By Editors | 23/01/2020

MAS and AMBD have committed to new areas of cooperation, including financial sector development, cross-border supervision, crisis management and AML/CFT.