Monetary Authority of Singapore

Market Infrastructure

Industry Initiative Set to Streamline MAS 610 Compliance

By Editors | 12/02/2018

AxiomSL-led initative will define open taxonomy and standardise interpretations for the revised MAS 610 reporting mandate.

Fintech / Regtech

HKMA Virtual Bank Rules – Dull, Timid Bureaucracy

By Peter Guy | 12/02/2018

Proposed virtual banks rules fail to address the true future of financial services, risking Hong Kong’s descent into irrelevancy.

AML / KYC

MAS Encourages Fintech Use for KYC, AML Checks

By Garima Chitkara | 08/02/2018

Monetary Authority of Singapore says technology-based customer due diligence could increase the quality of risk management for financial institutions.

Market Infrastructure

Singapore, Malaysia Unveil Plans for Cross Border Stock Trading Link

By Manesh Samtani | 07/02/2018

Link to be operational by year-end; will enable cross-border trading, clearing, settlement of shares between SGX and Bursa Malaysia.

AML / KYC

Real Estate and Trade Finance – The New AML Battlegrounds

By Samuel Riding | 25/01/2018

After years of scrutiny of banking relationships, regulators are now turning their attention to other stores of value, according to Accuity CEO Hugh Jones.

Enforcement

Singaporean Jailed for 4 Months for ‘False Trading’

By Editors | 24/01/2018

Mok Piak Liang convicted of manipulating share price to push up value of stock pledged to margin account and avoid having to top-up account by other means.

AML / KYC

MAS to End Pre-Approval Requirement for Non-Face-to-Face KYC

By Samuel Riding | 17/01/2018

Regulator says money changers, remittance firms don’t need pre-approval for video-onboarding and other tech, but must have non-face-to-face procedures audited.

Crypto / Digital Assets

MAS in Talks with Blockchain Firm Ripple on Cross Border Payments

By Manesh Samtani | 15/01/2018

Ripple chief says technology can speed up cross-border transactions from days to second, save banks trillions in collateral held against settlement risks.

AML / KYC

Singapore to Enforce AML/CTF Rules on Cryptocurrency Intermediaries

By Garima Chitkara | 10/01/2018

Deputy prime minister says no major AML lapses have been found at Singapore banks when asked about ‘Russian Laundromat’ probe.