MONETARY AUTHORITY OF SINGAPORE

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    Crypto / Digital Assets

    Singapore to Set Crypto Client Onboarding Standards for Banks

    By Editors | 10/04/2023

    The “industry-driven project” has been ongoing for about six months, with participation from MAS and Police in a banks-led working group.

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    Fintech / Regtech

    APAC Regulators Form New Forum to Address Cloud Risk

    By Sanday Chongo Kabange | 06/04/2023

    MAS assistant managing director Vincent Loy said the twice-a-year forum will help APAC regulators and CSPs ensure greater resilience of cloud adoption in the financial sector.

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    Market Infrastructure

    Singapore, Malaysia Launch Cross-border QR Payments Link

    By Editors | 31/03/2023

    The payment linkage will allow customers of participating financial institutions to make retail payments by scanning NETS QR and DuitNow QR codes.

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    Fintech / Regtech

    MAS Says Latest Outage at DBS is “Unacceptable”

    By Editors | 30/03/2023

    Singapore customers of DBS were unable to access online banking services or make trades via its brokerage for around ten hours on Wednesday.

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    Capital / Liquidity

    Industry Welcomes Regulator Commitments to Prioritise Bondholders

    By Manesh Samtani | 24/03/2023

    Regulators respond to Swiss decision to wipe out Credit Suisse bondholders by pledging to respect the bank rescue hierarchy in a crisis.

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    Fintech / Regtech

    BIS Innovation Hub Completes Project Nexus Proof-of-Concept

    By Editors | 23/03/2023

    The next phase of Nexus will connect the instant payment systems of Singapore, Indonesia, Malaysia, Philippines and Thailand.

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    AML / KYC

    Singapore: New Bill Introduced to Facilitate Introduction of COSMIC

    By Manesh Samtani | 21/03/2023

    The Bill provides FIs statutory protection from civil liability in respect of their disclosure of risk information on to COSMIC for the purposes of mitigating ML, TF and PF risks.

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    Capital / Liquidity

    Swiss Regulators Orchestrate UBS Takeover of Credit Suisse

    By Manesh Samtani | 20/03/2023

    The deal gives Credit Suisse shareholders shares in UBS worth just 40 percent of what their CS shares were worth on Friday.

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    Market Infrastructure

    Singapore Consults on Adjustment Spreads for Legacy SIBOR Contracts

    By Editors | 15/03/2023

    Steering Committee proposes to have a period of active transition until 30 April 2024, before banks initiate an industry-wide automatic conversion process around June 2024.

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    Fintech / Regtech

    Sea Group Launches Digital-only MariBank in Singapore

    By Editors | 15/03/2023

    Invitations are currently limited to users of Sea Group’s ecosystem such as Shopee customers and individual sellers.

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