MONETARY AUTHORITY OF SINGAPORE

ESG / Sustainability

MAS Proposes Approach to Financing Early Retirement of Coal Plants

By Editors | 27/09/2023

A new paper by MAS and McKinsey proposes the generation and sale of “transition credits” to reduce the economic gap from retiring a coal plant early.

ESG / Sustainability

TNFD Recommendations Set the Stage for Nature-Related Reporting

By Ranamita Chakraborty | 25/09/2023

Kennedys Legal Solutions’ Robson Lee stresses the need for clear action plans aligned with TNFD recommendations in an interview with Regulation Asia.

Enforcement

Singapore Banks Ramp Up Scrutiny of Risky Customers – Reports

By Mark Johnston | 25/09/2023

Singapore banks are red-flagging, reviewing, restricting and/or closing accounts of customers from China, Vanuatu, Dominica, Cyprus, Cambodia, Turkey, and St Kitts and Nevis.

Capital / Liquidity

MAS Announces Decision to Increase Deposit Insurance Limit

By Sanday Chongo Kabange | 24/09/2023

MAS will increase the maximum deposit insurance coverage from the current S$75,000 to S$100,000, starting from 1 April 2024.

Market Infrastructure

OCBC Joins LCH SwapClear and HKEX’s OTC Clear

By Sanday Chongo Kabange | 24/09/2023

Direct clearing membership with LCH SwapClear and OTC Clear will help lower costs and enable better hedging tools for investors.

Capital / Liquidity

MAS Finalises Framework for Designating Systemically Important Insurers

By Editors | 22/09/2023

The inaugural list of D-SIIs includes AIA Singapore; Income Insurance; Prudential Assurance; and Great Eastern Life.

Capital / Liquidity

MAS Finalises Notice for Implement Basel III Reforms

By Editors | 21/09/2023

The revised MAS Notice 637 will be effective from 1 July 2024. An additional year is provided for compliance with revised market risk and CVA standards.

Enforcement

Singapore: Former CEO, Three Others Charged for False Trading Offences

By Mark Johnston | 20/09/2023

Goh Jin Hian, the son of former PM Goh Chok Tong, allegedly conspired with three others to create a misleading appearance of the price of New Silkroutes securities.

Crypto / Digital Assets

Industry Collaboration Driving Digital Asset Ecosystem Growth

By Ranamita Chakraborty | 20/09/2023

At the Digital Assets Week Singapore, MAS highlighted its focus on bringing the private and public sectors to grow the digital asset ecosystem.