Singapore

AML / KYC

MAS Fines UOBKH for Business Conduct, AML Failures

By Editors | 31/08/2022

UOBKH failed to implement adequate controls for its corporate finance business and to ensure it was subject to internal audit.

ESG / Sustainability

More Sustainability Roles Emerging in Finance, Accountancy Sectors

By Editors | 31/08/2022

A study published by ISCA, EY, SMU and SAC identifies three trends in sustainability that will expand the current job roles and skills required for accountancy and finance professionals.

Market Infrastructure

Singapore Industry Group Launches New Funds Settlement Utility

By Editors | 31/08/2022

The utility will reduce manual steps, centralise processing, and facilitate reconciliation, thereby reducing settlement time and improving efficiency.

Fintech / Regtech

Grab-Singtel Digital Bank Set to Launch First Financial Product

By Editors | 31/08/2022

GXS Bank will launch a savings account product on 5 September, and expand into wealth and credit products over the coming months.

Singapore to Launch New Work Pass to Draw Overseas Talent

By Editors | 30/08/2022

“We cannot leave any room for investors to doubt or have questions as to whether Singapore remains open,” said Manpower Minister Tan See Leng.

Crypto / Digital Assets

MAS to Strengthen Retail Protections from Crypto Harms

By Manesh Samtani | 30/08/2022

MAS managing director Ravi Menon described an approach to digital assets that allows Singapore to be both stringent in its regulation and facilitative of innovation.

Crypto / Digital Assets

MAS Seeking Granular Business Activity Info From Crypto Firms

By Editors | 29/08/2022

The exercise is reportedly aimed at gathering information from crypto-related firms in Singapore ahead of planned regulatory changes for the sector.

Enforcement

MAS Fines Noble Group Over Misleading Financial Statements

By Editors | 25/08/2022

The S$12.6mn fine is understood to be the largest fine for the publication of misleading financial statements in Singapore’s history.

Enforcement

SG Police Make Series of Arrests Targeting Scam Syndicates

By Editors | 24/08/2022

4 were arrested over phishing scams targeting bank customers, and another 13 as part of a joint operation with Malaysian police.