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Trading & Investment
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.
Payments & Settlements
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.
Structural Regulation
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.
Anti-Money Laundering
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.
Data Privacy
Digital Identities: A Game Changer for Singapore Banking
By Jamie Lloyd Evans | 21/01/2020
Industry veteran Jamie Lloyd Evans discusses the introduction of digital identities in Singapore, and what it could mean for banking.
Cybersecurity
MAS Alerts Financial Institutions to Microsoft Windows Vulnerabilities
By Editors | 20/01/2020
The vulnerabilities could allow malicious files or applications to bypass detection from security applications and gain control of the computer systems.
Market Abuse
MAS Issues First Penalty for Shareholder Disclosure Breach
By Editors | 20/01/2020
An investor was fined S$200,000 for failing to disclose that he had become a substantial shareholder in a Catalist-listed company, and for subsequent disclosure rule breaches.
Anti-Money Laundering
MAS Publishes Responses to VCC Consultation Papers
By Editors | 16/01/2020
VCCs are required to engage an Eligible Financial Institution, or EFI, to perform necessary AML/CFT checks and maintain the register of controllers, nominee directors and beneficial owners.
Structural Regulation
Singapore Launches New VCC Framework for Funds
By Manesh Samtani | 15/01/2020
To mark the launch, 20 investment funds have established or re-redomiciled in Singapore as VCCs. To encourage adoption, MAS will fund up to 70% of eligible expenses to set up a VCC.
Structural Regulation
UPDATED – 21 Digital Bank Licence Applications Received: MAS
By Editors | 07/01/2020
MAS will announce the successful applicants in June 2020. The new digital bank licencees will be expected to commence business by mid-2021.
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