Monetary Authority of Singapore

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    AML / KYC

    Singapore: Enhanced AML Checks Are Impacting Client Onboarding

    By Nithya Subramanian | 17/09/2024

    Enhanced checks and controls for banks have started to delay onboarding, but they are expected to lead to a safer business environment.

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    Enforcement

    MAS Reprimands Insurance CEO for Compliance Breaches

    By Nithya Subramanian | 11/09/2024

    The former CEO was aware of breaches but failed to take adequate preventive measures despite written directions from MAS.

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    ESG / Sustainability

    BIS, NGFS Developing Enhanced Climate Risk Data Platform

    By Editors | 10/09/2024

    The NGFS Data Directory 2.0 aims to enhance how the financial sector accesses and utilises climate risk data.

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    Crypto / Digital Assets

    MAS Grants In-principle Digital Assets Licence to JST Digital

    By Nithya Subramanian | 09/09/2024

    JST Digital was launched in New Jersey in 2018, registered with FinCEN in 2022, and is now on a path to a Singapore licence.

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    Enforcement

    MAS Bans Former RHB Securities Representative for False Trading

    By Nithya Subramanian | 04/09/2024

    A five-year PO was issued against a former representative of RHB Securities for manipulating Catalist-listed Koyo International.

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    Crypto / Digital Assets

    MAS Grants Major Payment Institution License to OKX

    By Nithya Subramanian | 03/09/2024

    OKX also appointed a former MAS official as its Singapore CEO, saying the city-state is a core market for its global strategy.

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    Market Infrastructure

    Deadline Fast Approaching for New Trade Reporting Rules in Australia and Singapore

    By Manesh Samtani | 03/09/2024

    DTCC, MAS and ASIC are calling on market participants to accelerate testing efforts to ensure readiness for new reporting rules that go live on 21 October.

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    Capital / Liquidity

    MAS Seeking Data from Insurers on Reinsurance Arrangements

    By Nithya Subramanian | 30/08/2024

    Insurance companies have reportedly been asked to submit the terms and conditions of their reinsurance contracts to MAS.

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    Market Infrastructure

    MAS Identifies Priority Areas for Equities Market Review Group

    By Ranamita Chakraborty | 29/08/2024

    The review group has identified the areas of focus for its two workstreams and pledged to announce recommendations in phases.

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    Crypto / Digital Assets

    DBS Concludes Blockchain Pilot to Streamline Grant Disbursements

    By Ranamita Chakraborty | 25/08/2024

    The programmable grant disbursement pilot used smart contracts to automate and streamline grant disbursements by Enterprise Singapore.

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