International

Fintech / Regtech

EU Proposes Measures to Enable ‘Open Finance’ and Tackle Payments Fraud

By Editors | 02/07/2023

Payment service providers will gain a legal basis to voluntarily share payment fraud related information via dedicated IT platforms.

AML / KYC

Consultation Opens on Revisions to FATF Standards for NPOs

By Editors | 01/07/2023

The proposed amendments seek to address issues related to the over-application of preventive measures to the NPO sector, which hinders genuine non-profit activity.

ESG / Sustainability

VCMI Introduces Carbon Offset Rules

By Ranamita Chakraborty | 30/06/2023

Companies must choose carbon credits that meet strict quality thresholds aligned with the Integrity Council for Voluntary Carbon Markets Core Carbon Principles to make climate claims under the new VCMI rules.

Crypto / Digital Assets

EU Commission Issues Legislative Proposal to Introduce CBDC

By Editors | 29/06/2023

The ECB will decide whether to move to the next phase of the project after its investigation phase is concluded in October.

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.

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.

Enforcement

Singapore Court Jails Businessman in Wirecard Case

By Karen Ng | 28/06/2023

This is the third jail sentence relating to the Wirecard case handed out by the Singapore court within the past week.

Crypto / Digital Assets

FATF Publishes Update on VA, VASPs Standards Implementation

By Jill Wong | 28/06/2023

The latest FATF review on country compliance finds that markets are continuing to struggle with FATF requirements to regulate virtual asset service providers.

ESG / Sustainability

MAS-SGX-CDSC Partnership to Expand Access to Climate Transition Data

By Ranamita Chakraborty | 28/06/2023

Work is scheduled to start in Q1 2024, with the goal of integrating MAS’ Project Greenprint’s ESGenome disclosure portal and CDSC’s Net-Zero Data Public Utility global repository of climate transition-related data.