Singapore

Enforcement

SFC Imposes Lifetime Ban on Former China Citic Bank Employee

By Editors | 26/08/2020

The former relationship manager is said to have falsely represented to customers that an additional fee was needed to open an account with CITIC – which he then pocketed.

Securities / Derivatives

Singapore Authorities Charge Five Remisiers for False Trading

By Editors | 20/08/2020

The five individuals charged were former remisiers for Phillip Securities, OCBC Securities, DBS Vickers Securities, and Maybank Kim Eng Securities.

Securities / Derivatives

HKEX Adds Two More Taiwan Futures Contracts to MSCI Suite

By Manesh Samtani | 20/08/2020

HKEX is seeking CFTC certification for the new contracts. The move intensifies competition with SGX, which already has a CFTC-certified futures contract for Taiwan.

Market Infrastructure

The Case for a Central Lending Platform in Singapore

By Irene Liu | 20/08/2020

Not enough SMEs are taking advantage of government supported loan programmes, in part due to the onerous processes involved in accessing them, say PwC’s Irene Liu and Shierly Mondianti.

ESG / Sustainability

SGX Partners with FTSE Russell to Expand Derivatives Product Line

By Manesh Samtani | 20/08/2020

The product expansion will cater to demand from institutional investors for solutions in multi-asset, ESG, dividend, sector and duration strategies.

Market Infrastructure

MAS Becomes First Asian Government Entity to Issue RFR Debt

By Manesh Samtani | 19/08/2020

Singapore is seen to be leading Asia in its preparation for the cessation of LIBOR at the end-of 2021. Earlier this month, MAS announced new initiatives to catalyse SORA markets.

Enforcement

MAS Bans Two Individuals for Fraud and Dishonest Conduct

By Editors | 19/08/2020

Prohibition orders were issued against former representatives of Prudential Assurance Company Singapore and Bank of Singapore in two unrelated cases.

AML / KYC

Risk and Reward: AI Enables Active Financial Crime Risk Assessment

By Daniel Banes | 18/08/2020

Adverse media is openly available, continually updated, and provides a wealth of information, but it remains underused in financial crime risk assessments, writes Daniel Banes.

AML / KYC

Singapore Crypto Association Publishes Industry Code of Practice

By Editors | 17/08/2020

The code is accompanied by a practice guide providing regulatory guidance to facilitate payment services licence applications in Singapore.