Monetary Authority of Singapore

ESG / Sustainability

NGFS Issues Guidance on Development of Nature-related Scenarios

By Nithya Subramanian | 14/12/2023

The guidance will help develop scenarios for assessing the impact of nature-related physical risks and transition policies.

MAS Unveils Key Decisions on Mandatory Reference Check Regime

By Manesh Samtani | 13/12/2023

The new requirements will come into effect one year after publication of the relevant Notices, which will first be subject to consultation.

Fintech / Regtech

MAS Issues New Rules on Managing Outsourced Services

By Manesh Samtani | 12/12/2023

Banks will have to provide details to MAS about the services they outsource and ensure it can audit the service providers and obtain records and documents from them.

AML / KYC

Singapore Single-Family Offices Scrutinised for Money Laundering Risks

By Ranamita Chakraborty | 12/12/2023

Legal experts advising SFOs view proposed regulatory measures as incremental steps toward AML compliance amid the financial hub’s biggest money laundering scandal.

Securities / Derivatives

MAS Updates CMSL Guidance on CEO and Director Appointments

By Manesh Samtani | 09/12/2023

Capital markets firms must ensure proposed CEOs and directors are fit and proper and have 10 years of experience that is “relevant” to the role.

Big Picture

Adapting to Regulatory Changes is a Challenge for Insurers

By Nithya Subramanian | 08/12/2023

Insurers must track regulatory changes and make operational adjustments to meet new requirements, said the Clearwater Analytics survey.

Market Infrastructure

RBI in Talks With HK, US on Cross-border CBDC Payments

By Ajoy K Das | 08/12/2023

The RBI has set up a working group to create a roadmap for settling international remittances using CBDCs.

ESG / Sustainability

MAS Finalises Code of Conduct for ESG Rating & Data Providers

By Ranamita Chakraborty | 07/12/2023

The regulator expects providers to regularly review their methodologies and data sources for better transparency.

AML / KYC

MAS Consults on Scope of Customers Relevant to COSMIC

By Manesh Samtani | 07/12/2023

Any person who requests the bank in Singapore to carry out a transaction would be in scope, whether or not an account has been opened or the transaction is carried out.