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CBDCs
MAS Concludes Phase One of Retail CBDC Project
By Editors | 31/10/2022
Phase 1 of Project Orchid explored the concept of purpose-bound digital SGD, bearer instruments that enable senders to specify conditions when making transfers in digital SGD.
Conduct, Culture & Accountability
SGX RegCo Consults on Independent Director Tenure Limit
By Editors | 28/10/2022
The consultation also proposes to require listed companies to disclose director and CEO remuneration in annual reports on a named basis.
Structural Regulation
CFTC Grants Exemptions to Three More Singapore RMOs
By Editors | 27/10/2022
The CFTC granted SEF registration exemptions to Bloomberg Tradebook Singapore, SGX FX Markets (BidFX), and Synoption.
AI Risk & Governance
NLP for Regulatory Compliance: A Question of When, Not If
By Irene Liu | 27/10/2022
Accenture’s Irene Liu and team discuss the use of NLP technology within compliance functions, as well as the adoption challenges and how to address them.
Stablecoins
MAS Proposes New Rules for Crypto Firms, Stablecoin Issuers
By Manesh Samtani | 27/10/2022
Retail investors won’t be allowed leverage and will have to undergo a knowledge test. Stablecoin issuers will have strict rules on reserve assets and a S$1bn capital requirement.
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.
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