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Structural Regulation
Singapore Launches Code of Conduct for BNPL Providers
By Editors | 26/10/2022
BNPL customers will not be allowed to accumulate more than SGD 2,000 in outstanding payments at any given time.
Emerging Prudential Risks
MAS Proposes Methodology to Assess Systemic Importance of Insurers
By Editors | 25/10/2022
D-SIIs will be required to meet higher capital and enhanced corporate governance requirements, and establish RRPs and robust risk management information systems.
Payments & Settlements
MAS Proposes to Raise Caps Imposed on E-Wallets
By Manesh Samtani | 21/10/2022
Besides raising the caps, MAS also proposes to introduce an exemption to allow for ‘white labelling’ of e-wallet accounts.
Cybersecurity
Singapore Establishes Inter-agency Taskforce on Ransomware
By Editors | 20/10/2022
The Counter Ransomware Task Force comprises senior government representatives from the technology, cybersecurity, financial regulation and law enforcement domains.
Cryptocurrency
US Regulators Probe Failed Crypto Firm Three Arrows Capital
By Editors | 19/10/2022
The SEC and CFTC are reportedly looking into whether Three Arrows misled investors and violated rules by not registering its business.
Sustainable Finance
ABS Launches Sustainability Guidelines for Private Banking
By Editors | 17/10/2022
A common industry training benchmark has also been established to help upskill private banking relationship managers in the area of sustainability.
Cryptocurrency
Coinbase, Blockchain.com Win In-principle Approval in Singapore
By Editors | 12/10/2022
MAS has granted in-principle approval to Coinbase and Blockchain.com. Currently, nine firms have full licences to offer regulated crypto services in Singapore.
Conduct, Culture & Accountability
MAS Calls on Investors to Engage with Listed Companies
By Manesh Samtani | 11/10/2022
Asset managers and retail investors are encouraged to more actively engage with their investee companies and participate in setting their strategic direction.
Anti-Money Laundering
Singapore Punishes Ex-BSI Banker Over 1MDB Failings
By Sanday Chongo Kabange | 11/10/2022
BSI Singapore’s former head of private banking contributed to the bank’s failure to file STRs for 1MDB-related transactions when there were reasonable grounds to do so.
Anti-Money Laundering
Singapore Government Publishes New National CTF Strategy
By Editors | 09/10/2022
A national risk assessment found remittance agents and banks to be the most vulnerable. MAS will develop new guidance for both sectors.
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