Monetary Authority of Singapore

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.

Securities / Derivatives

HKMA, SFC to Jointly Review OTC Product Pricing at Intermediaries

By Manesh Samtani | 19/05/2020

The thematic review will assess the spreads intermediaries charge for non-exchange traded investment products such as bonds and structured products.

Crypto / Digital Assets

MAS Sets Out Regulatory Approach for Payment Token Derivatives

By Editors | 18/05/2020

MAS will regulate payment token derivatives offered by approved exchanges – i.e. SGX Derivatives, APEX, Ice Futures – but will not regulate such products offered by other entities.

Fintech / Regtech

MAS, SFA, AMTD Jointly Launch S$6m ‘FinTech Solidarity Grant’

By Editors | 13/05/2020

Fintechs can apply for a one-time grant to cover daily working capital expenses, or for funding to cover proofs-of-concept developed with financial institutions on APIX.