Monetary Authority of Singapore

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    Enforcement

    Singapore: Next Phase of FSMA Implementation Has Commenced

    By Editors | 14/05/2024

    MAS can now impose fines up to S$1mn for non-compliance with technology risk management requirements.

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    Securities / Derivatives

    MAS Finalises Rules for New OTC Derivatives Reporting Regime

    By Manesh Samtani | 14/05/2024

    The final regulations come into operation on 21 October 2024, introducing the UPI, UTI, CDE and ISO 20022 in reporting.

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    MAS Appoints New Chairman of the Board

    By Nithya Subramanian | 14/05/2024

    Minister for Trade and Industry Gan Kim Yong has been appointed Chairman for a two-year period.

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    Crypto / Digital Assets

    Singapore, UK to Boost Fintech, Green Finance Cooperation

    By Nithya Subramanian | 09/05/2024

    MAS and HM Treasury will collaborate to develop and finance green finance and energy transition projects in APAC.

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    Big Picture

    Regulatory Hurdles Limit Adoption of Tokenised Alternative Assets

    By Nithya Subramanian | 08/05/2024

    Moody’s Investors Service outlines the technical and regulatory hurdles that may limit adoption of tokenised alternative assets.

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    AML / KYC

    MAS Fines Swiss-Asia Financial Services for AML Breaches

    By Nithya Subramanian | 08/05/2024

    The CEO and COO were also reprimanded for failing to ensure compliance with the AML/CFT requirements.

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    Securities / Derivatives

    Singapore Examining Proposals to Boost Stock Market: Report

    By Nithya Subramanian | 07/05/2024

    The proposals would encourage stock investments by family offices, wealth management businesses, pension funds and sovereign funds.

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    Securities / Derivatives

    MAS Issues Notice on Fund Data Submission Requirements

    By Nithya Subramanian | 07/05/2024

    Notice SFA 04-N23 specifies monthly and daily submission requirements applicable to managers of authorised CIS, excluding REITs.

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    ESG / Sustainability

    China Construction Bank, Gprnt Partner on Sustainable Finance

    By Nithya Subramanian | 03/05/2024

    This is the first collaboration between a major Chinese financial institution and Gprnt. It is expected to improve access to sustainable finance for SMEs.

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    Fintech / Regtech

    DBS Experiences Disruption Days After MAS Lifts Restrictions

    By Nithya Subramanian | 03/05/2024

    Customers of the Singapore bank experienced internet banking and payment services disruptions for more than two hours on Thursday.

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