Singapore

ESG / Sustainability

ABS Launches Environmental Risk Questionnaire for Banks

By Editors | 21/04/2022

The ABS has launched an industry standard template to help banks engage corporate clients in the assessment and mitigation of environmental risk issues.

AML / KYC

20 Year Old Pleads Guilty in OCBC Phishing Scam Case

By Editors | 20/04/2022

The individual worked with other youths to provide overseas syndicates control of bank accounts that were used to receive and dissipate funds obtained through scams.

Securities / Derivatives

Singapore Tightens Requirements for Family Office Tax Breaks

By Editors | 19/04/2022

The new requirements are expected to slow the market’s growth but over time attract larger and more wealthy families to set up in Singapore.

Market Infrastructure

Singapore Starts Licensing Cybersecurity Service Providers

By Darien Choong | 14/04/2022

Firms that provide penetration testing or managed security operations centre monitoring services have to apply for a licence by 11 October.

Fintech / Regtech

Australia, Singapore to Deepen Collaboration via ‘FinTech Bridge’

By Editors | 13/04/2022

The bilateral FinTech Bridge will enable stronger cooperation and collaboration on policy and regulation to better support the cross-border growth of the fintech industry.

ESG / Sustainability

SGX Set to List First ETF Based on New Low Carbon Index

By Editors | 12/04/2022

The ETF will allow investors to buy just one unit at a time, a feature aimed at attracting investment from younger and newer investors.

Fintech / Regtech

Singapore Crypto Firms Offered Clarity on Advertising Ban

By Darien Choong | 12/04/2022

Industry bodies have formed a task force to draft a code of practice to address issues around marketing and advertising of crypto services, as suggested by MAS.

MAS Publishes Compliance Toolkit for Financial Advisers

By Editors | 09/04/2022

The toolkit provides guidance to facilitate compliance by financial advisers with MAS approval and reporting requirements.

Enforcement

Singapore Court Upholds Convictions of Russian, Singapore Nationals

By Editors | 08/04/2022

The two men served as resident directors for companies, declaring themselves rather than their Russian clients as the beneficial owners.