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Structural Regulation
ASEAN ‘Close’ to Financial Services Free Trade Agreement
By Samuel Riding | 09/04/2018
Statement says deal on trade in services close to agreement, ASEAN members to also update wider agreement on cross-border services this year.
Resolution & Recovery
Singapore Bank Resolution Regime Favours Bailouts Over Credit Bail-ins – Moody’s
By Garima Chitkara | 05/04/2018
Singapore regulations favour bailouts over creditor bail-ins as bail-in buffers only comprise 1-2% of Singapore bank assets, says Moody’s.
AI Risk & Governance
MAS Guidance on AI, Data Analytics In The Works
By Editors | 04/04/2018
Key financial industry stakeholders to co-create guide setting out key principles, best practices to strengthen governance, reduce data misuse risks.
Anti-Money Laundering
MAS Fines StanChart Units $4.9mn for AML/CTF Breaches
By Editors | 20/03/2018
The bank’s Singapore branch and trust unit failed to adequately assess and mitigate risks that clients were trying to avoid CRS reporting obligations.
Cryptocurrency
Money 20/20: MAS Speaks Out on Crypto Risks, Blockchain
By Manesh Samtani | 17/03/2018
In a speech at Money 20/20 Asia, MAS managing director Ravi Menon spoke about the promise of blockchain technology and containing cryptocurrency risks; AML/CTF risks present a “clear and present danger”.
Data Privacy
MAS to Streamline Data Submissions, Reduce Burden for FIs
By Editors | 16/03/2018
Financial institutions will be allowed to decline MAS requests for previously-submitted data; new regulatory returns to be submitted in machine-readable formats.
Conduct, Culture & Accountability
MAS to Weigh in on Bank HR Practices
By Samuel Riding | 15/03/2018
Advisory group will develop best practices for the industry, including more inclusive, skills-based hiring policy.
Market Abuse
MAS, CAD to Jointly Investigate All Capital Markets, Financial Advisory Offences
By Editors | 14/03/2018
MAS and CAD will consolidation investigative resources and expertise for all capital market and financial advisory offences, effective 17 March.
Clearing & Post-Trade
SGX to Merge OTC, Exchange Derivatives into Single Risk Class for Clearing Fund
By Samuel Riding | 14/03/2018
Move follows MAS consultation on moving all OTC derivatives contracts onto organised markets.
Resolution & Recovery
FSB Issues Singapore Peer Review
By Samuel Riding | 27/02/2018
Board suggests MAS need to state who is responsible for macro-prudential oversight; wants resolution regime extended to market infrastructure.
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