Singapore

AML / KYC

MAS Fines Vistra Trust for Failures in AML Controls

By Editors | 20/01/2022

Vistra failed to identify certain higher risk accounts and to subject these accounts to EDD measures, both during account acquisition as well as on an ongoing basis.

AML / KYC

MAS, ABS Announce Measures to Bolster Online Banking Security

By Editors | 20/01/2022

Singapore banks will put in place the more stringent measures within the next two weeks, and work on more permanent solutions in the coming months.

Fintech / Regtech

Crypto Firms Should Not Advertise to Retail Customers: MAS

By Mark Johnston | 18/01/2022

New guidelines say crypto firms should refrain from advertising their services in public areas in Singapore or via social media influencers.

Fintech / Regtech

MAS Grants RMO Licence to Digital Asset Platform ECXX

By Editors | 17/01/2022

ECXX Global Pte Ltd entered Sandbox Express in August 2020 as a digital asset exchange platform providing investors access to security tokens.

Capital / Liquidity

MAS Gets New Mechanism to Transfer Excess Reserves to GIC

By Darien Choong | 17/01/2022

MAS will transfer about SGD 185 billion in excess reserves to the government in stages. GIC is estimated to become the world’s third-largest sovereign wealth fund as a result.

ESG / Sustainability

SGX to Launch Battery Metal Futures in H1 2022

By Editors | 12/01/2022

Futures contracts in cobalt metal, cobalt hydroxide, lithium carbonate and lithium hydroxide will be launched subject to regulatory approval.

Securities / Derivatives

UPDATED – Singapore to See First SPAC Listings Within January

By Mark Johnston | 12/01/2022

Prospectuses have been filed by Vertex Technology Acquisition Corporation, Pegasus Asia, and Novo Tellus Capital Partners.

Fintech / Regtech

MAS Publishes Global CBDC Challenge 2021 Report

By Editors | 11/01/2022

MAS hopes to galvanise the financial ecosystem to co-create the next generation of payment rails built on the latest innovations.

Enforcement

Singapore Police, MAS Launch Probe into Unlicensed Trading Platform

By Editors | 05/01/2022

Three arrests have been made amid suspicions that “irregular trading activities have been carried out on the platform”.