Singapore

AML / KYC

Singapore Tightens Laws on Technology Risk, Crypto Assets

By Sanday Chongo Kabange | 06/04/2022

FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.

AML / KYC

Singapore Banks to Station More Staff at Anti-Scam Centre

By Editors | 05/04/2022

While banks have been supporting the police’s Anti-Scam Centre for the past three years, only DBS currently has staff physically located inside the centre.

Market Infrastructure

Singapore CSA Developing Technical Reference on Cybersecurity

By Editors | 05/04/2022

The Technical Reference will provide guidance on the adoption of tiered cybersecurity measures to address the different risk profiles of enterprises.

ESG / Sustainability

Singapore Updates Stewardship Principles for Responsible Investors

By Editors | 03/04/2022

The updated Principles emphasise the need to integrate ESG considerations into investment decision-making and stewardship practices.

Securities / Derivatives

SGX, UK Partner to Fund New SDG-Aligned Issuers

By Editors | 03/04/2022

SGX and MOBILIST will partner to support new issuers of securities aligned with the SDGs by deploying equity capital and other forms of assistance.

Fintech / Regtech

BIS, MAS Launch Prototype Supervisory Analytics Platform

By Manesh Samtani | 31/03/2022

Project Ellipse can provide regulators with early warning indicators, analytics and prudential metrics to assist them in risk detection and banking supervision.

Enforcement

Singapore Police, Banks Step Up Scam Intervention Efforts

By Editors | 31/03/2022

In a four-day operation last week, the police and five banks intervened in 150 scam cases, which resulted in the arrests of 35 individuals.

Securities / Derivatives

MAS Publishes New Compliance Toolkit for CMS Licensees

By Editors | 31/03/2022

The toolkit is applicable to CMS licensees that deal in capital markets products, advise on corporate finance, or provide product financing, custodial services or credit rating services.

Capital / Liquidity

MAS Proposes Revisions to Bank Capital Disclosure Requirements

By Editors | 31/03/2022

The changes reflect the final Basel III reforms and will improve the consistency and comparability of disclosures across Singapore incorporated banks.