Monetary Authority of Singapore

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    Resolution & Recovery

    MAS Proposes Recovery & Resolution Planning Requirements for Insurers

    By Editors | 03/10/2023

    MAS plans to issue a new notice setting out requirements for insurers to prepare and test recovery plans, and enhance its resolution powers for the insurance sector.

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    Structural Regulation

    Singapore: New CMFAS Exams to Commence from 1 April 2024

    By Editors | 30/09/2023

    The commencement date was announced in MAS’ response to a 2020 consultation on competency requirements for financial advisers and CMS licence holders.

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    CBDCs

    BIS Innovation Hub Concludes Project Mariana Trials

    By Editors | 29/09/2023

    The project explored the use of DeFi automated market makers for the cross-border exchange of CBDC in different currencies.

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    AI Risk & Governance

    How Should Financial Institutions Govern AI Usage?

    By Ranamita Chakraborty | 28/09/2023

    Ying Yi Liew from Baker McKenzie Wong & Leow discusses AI governance considerations for financial institutions in Singapore at the recent TechLaw.Fest.

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    Sustainable Finance

    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.

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    Nature & Biodiversity

    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.

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    Anti-Money Laundering

    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.

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    Resolution & Recovery

    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.

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    Clearing & Post-Trade

    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.

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    Emerging Prudential Risks

    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.

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