Monetary Authority of Singapore

Enforcement

Singapore Considers Granting Police More Powers to Block Scams

By Nithya Subramanian | 23/08/2024

The police will be able to block banking transactions if there is “reasonable belief” that victims will transfer money to scammers.

ESG / Sustainability

Singapore Financial Industry Bodies Sign MOU on Skills Development

By Editors | 21/08/2024

Seven associations including IMAS and ABS signed an MOU with IBF and NTUC to promote the adoption of Financial Sector Job Transformation Maps.

Enforcement

MAS Imposes 9-Year Ban on Former OCBC Rep for Misconduct

By Nithya Subramanian | 20/08/2024

The former representative defrauded five OCBC customers by persuading them to sign up for fictitious time deposit accounts.

Enforcement

MAS Issues Prohibition Order Against Ex-HSBC Banker for Disclosure Failure

By Nithya Subramanian | 20/08/2024

The former relationship manager failed to disclose to HSBC that he had been the subject of police investigations and criminal proceedings.

Fintech / Regtech

Getting Your Ducks in a Row for APAC Rules Rewrites

By Priya Kundamal | 19/08/2024

DTCC’s Priya Kundamal discusses the lessons learned from markets that have implemented the first phase of changes to derivatives reporting rules.

Securities / Derivatives

MAS Consults on Changes to Financial Statement Requirements for CIS

By Nithya Subramanian | 16/08/2024

MAS has proposed allowing authorised schemes to adopt SFRS (I) instead of RAP 7, while retaining certain critical disclosures within the CIS Code.

Fintech / Regtech

MAS Partners with Banks and Tech Firms on Quantum Security

By Nithya Subramanian | 15/08/2024

MAS and participating banks will experiment with “Quantum Key Distribution” solutions to address the cybersecurity threats posed by quantum computing.

Crypto / Digital Assets

DBS Pilots New Blockchain-Powered Treasury Management Platform

By Nithya Subramanian | 14/08/2024

DBS said Ant International will pilot the platform, reducing the time taken to settle cross-border intra-group transactions to seconds.

Securities / Derivatives

MAS Publishes Compliance Toolkits for LFMCs and VCF Managers

By Nithya Subramanian | 14/08/2024

The compliance toolkits offer fund managers guidance on approvals, notifications and other regulatory submissions.