MONETARY AUTHORITY OF SINGAPORE

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    Crypto / Digital Assets

    MAS to Require Trust Holding of DPT Customers’ Assets

    By Jill Wong | 04/07/2023

    MAS says the move is aimed at preventing the loss of customers’ assets and to facilitate a recovery in the event of a DPT provider’s insolvency.

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    Lawrence Wong Appointed Chairman of MAS Board

    By Editors | 03/07/2023

    Lawrence Wong will replace Tharman Shanmugaratnam, who will step down to run in Singapore’s upcoming presidential election.

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    AML / KYC

    MAS Highlights Misuse of Legal Persons through Data Analytics

    By Jill Wong | 03/07/2023

    The MAS has published a paper to guide banks in using data analytics to detect and prevent the use of front companies to conceal illicit activities.

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    Market Infrastructure

    Singapore Finalises Approach for Transitioning SIBOR Loans to SORA

    By Manesh Samtani | 30/06/2023

    Recommendations finalised for how adjustment spreads should be set for converting SIBOR loans to a SORA reference rate.

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    AML / KYC

    Singapore Gets Tough on Money Laundering through Property

    By Karen Ng | 30/06/2023

    Lawyers talk to Regulation Asia about the implications of Singapore’s new property AML rules.

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    Fintech / Regtech

    MAS Launches New SME Support Project with Rwanda Central Bank

    By Sanday Chongo Kabange | 30/06/2023

    The project aims to solve data unavailability challenges that prevent SMEs from accessing financing from banks.

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    Crypto / Digital Assets

    BIS Releases Interim Report on Project Mariana

    By Editors | 29/06/2023

    Project Mariana is studying the use of DeFi automated market makers and wholesale CBDC for cross-border foreign exchange transactions.

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    ESG / Sustainability

    MAS Issues Consultation to Include Coal Phaseout in Taxonomy

    By Editors | 28/06/2023

    MAS decided to issue a fourth consultation to include criteria for coal phaseout projects in the Singapore-Asia Taxonomy.

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    ESG / Sustainability

    MAS Proposes Industry Code for ESG Data Providers

    By Editors | 28/06/2023

    The code establishes industry standards of transparency in methodologies and data sources, governance, and conflicts of interest management.

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    Capital / Liquidity

    Korea Considers Increasing Deposit Insurance Limit

    By Editors | 28/06/2023

    FIs are opposed to the move as it would raise the premium rates they pay for deposit insurance. Regulators say the impact should be “carefully examined”.

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