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Market Abuse
MAS Imposes Multi-Year Bans for ‘Dishonest Conduct’
By Editors | 10/05/2019
Two former representatives of Jefferies Singapore colluded to trade against their firm using privileged information, representing ‘deceptive conduct’ which contravenes the SFA.
Cybersecurity
Open Banking Security Risks May Open Pandora’s Box
By Peter Lancos | 09/05/2019
The open banking initiative could be put in jeopardy if data is not sufficiently secured, say Peter Lancos, Jonathan Naismith and Suraj Nittoor at Exate Technology.
Capital Adequacy
MAS Consults on Revised Capital Requirements for Singapore Banks
By Garima Chitkara | 08/05/2019
The central bank has opted to use its national discretion in key areas in credit, market and operational risk management.
Structural Regulation
MAS Considers the Value of Allowing Virtual Banks in Singapore
By Editors | 08/05/2019
The regulator says it is engaging relevant stakeholders to ascertain the unique value that such virtual bank entrants could bring to Singapore’s banking landscape.
CBDCs
Singapore, Canada Conclude First Trial on CDBC Cross-Border Payments
By Editors | 02/05/2019
MAS and the Bank of Canada linked up experimental payment networks despite their being built on two different DLT platforms.
Anti-Money Laundering
MAS Consults on Proposed Framework for Variable Capital Companies
By Editors | 02/05/2019
The proposals include an AML/CFT framework for VCCs requiring them to engage an eligible financial institution to perform the necessary checks.
Payments & Settlements
Singapore’s NETS to Co-Develop QR Payment System in Myanmar
By Editors | 30/04/2019
Singapore payment services provider NETS Group is helping the Myanmar Payment Union develop a unified e-payment system modelled after the SGQR.
Cloud & Infrastructure
Eight Firms Pass Initial Screening for GFIN Cross-Border Testing Pilot
By Manesh Samtani | 30/04/2019
Eight out of 44 applicant firms have passed an initial screening by GFIN members, and will now develop testing plans for regulators to consider and approve.
Conduct, Culture & Accountability
Culture & Conduct: the Global Regulatory Agenda
By Jeffrey Kupfer | 29/04/2019
The UK FCA has been a definitive leader in driving the global supervisory agenda in relation to culture and conduct risk, say Jeff Kupfer and Stephen Scott at Starling Trust Sciences.
Payments & Settlements
MAS Issues Update to E-Payments User Protection Guidelines
By Editors | 26/04/2019
The update addresses situations where customers choose to receive fewer transaction notifications, which could affect their ability to monitor for unauthorised transactions.
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