Monetary Authority of Singapore

Capital / Liquidity

MAS Raises Bank Deposit Insurance Protection 50pc

By Editors | 21/05/2018

Deposit Insurance Scheme coverage to increase to protect up to SGD75,000 per depositor, up from SGD50,000, starting from 1 April 2019.

Securities / Derivatives

Growing Liquidity Requirements, a Regulatory Hazard for Asset Managers

By Peter Guy | 21/05/2018

Asset managers resist bank-like capital and liquidity regulations being contemplated by regulators. But new requirements appear unavoidable given recent regulatory trends.

Market Infrastructure

China-backed Derivatives Exchange APEX Set for Launch in Singapore

By Manesh Samtani | 21/05/2018

Asia Pacific Exchange will become Singapore’s third derivatives exchange, initially offering dollar-denominated and physically tradable palm olein futures starting 25 May.

Fintech / Regtech

MAS Eyes Greater Financial Sector Resilience to Cyber Threats

By Manesh Samtani | 21/05/2018

Consultation to be issued “soon” on raising cyber resilience at financial institutions in Singapore; rules to include internal controls, independent reviews, authentication practices.

AML / KYC

Singapore Releases AML/CTF Best Practice Papers

By Karen Chiu | 17/05/2018

MAS-CAD industry partnership on AML/CFT released best practices papers to help financial institutions guard against trade-based money laundering and the misuse of company structures for illicit purposes.

Fintech / Regtech

IOSCO Meets to Discuss Investor Protection, Emerging Risks

By JP Reimann | 15/05/2018

Board to develop support framework to help members address impact of ICOs on investor protection; agree to launch ‘Fintech Network’ to facilitate collaboration on fintech.

Enforcement

SFC Signs Enhanced MoU on Cross Border Enforcement Cooperation

By JP Reimann | 13/05/2018

Enhanced IOSCO framework enables securities regulators to obtain and share audit working papers, telephone, internet records; compel attendance at interviews; provide guidance on freezing of assets.

Fintech / Regtech

Singapore Fast Tracks AI Adoption in Financial Sector

By JP Reimann | 08/05/2018

MAS partners with government agency, media regulator and professional body to promote adoption of AI products and services in financial sector.

AML / KYC

MAS Hits Former Credit Suisse Banker with Prohibition Orders

By Editors | 07/05/2018

Former representative deliberately concealed identity of beneficial owner on three accounts, making it difficult for the bank to monitor and detect suspicious transactions.