Monetary Authority of Singapore

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    Enforcement

    MAS Reprimands RVP One & CEO for Regulatory Breaches

    By Nithya Subramanian | 31/07/2024

    The RFMC failed to submit information about its financial returns and notify MAS of changes to its shareholding structure, MAS said.

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    AML / KYC

    MAS Issues New ‘Source of Wealth’ Guidance for FIs

    By Nithya Subramanian | 29/07/2024

    MAS sets out key risk principles that FIs should follow when designing policies to establish SOW of customers.

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    Enforcement

    MAS Issues New Guidance on Prohibition Orders Under FSMA

    By Ranamita Chakraborty | 26/07/2024

    The new PO regime will be brought into effect on 31 July as part of the third phase of implementing the Financial Services and Markets Act, which passed into law in April 2022.

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    Securities / Derivatives

    MAS Proposes Simplified Leverage Requirements for REITs

    By Nithya Subramanian | 25/07/2024

    MAS has proposed a minimum ICR threshold of 1.5 times, applicable to all REITs, and an aggregate leverage limit of 50 percent.

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    Enforcement

    MAS Cancels Insurance Broker’s Registration for Regulatory Breaches

    By Nithya Subramanian | 25/07/2024

    Acesynergy Brokers failed to comply with applicable regulatory requirements, registration conditions, and written directions from MAS.

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    Crypto / Digital Assets

    MAS Grants In-Principle Approval to Digital Asset Custodian Hex Trust

    By Ranamita Chakraborty | 25/07/2024

    Hex Trust said the MPI license will allow it to offer regulated DPT services in Singapore, namely for custody and OTC trading of DPTs.

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    ESG / Sustainability

    Central Banks, Regulators Told to Tackle Deforestation

    By ESG Investor | 19/07/2024

    The World Wide Fund for Nature calls on central banks and regulators to take steps to limit capital flow to deforestation activities.

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    Fintech / Regtech

    MAS to Support Quantum, AI Tech with S$100m Grant

    By Nithya Subramanian | 19/07/2024

    MAS said developing quantum and GenAI technologies are key priorities for building up capabilities in the financial sector.

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    AML / KYC

    MAS Working to Standardise AML Programmes Across FIs

    By Nithya Subramanian | 19/07/2024

    MAS intends to engage the industry to “set a clearer waterline of practices” and ensure AML requirements are implemented “more evenly” across the sector.

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    Fintech / Regtech

    MAS Sets Out Priorities to Build Financial Sector Capabilities

    By Nithya Subramanian | 19/07/2024

    MAS will focus on developing resilient digital financial services, fair dealing, and new capabilities in sustainability, AI and quantum technology.

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