Singapore

    AML / KYC

    Singapore’s Financial Industry’s Role in Preventing Sanctions Evasion

    By Jamil Ahmed | 23/04/2020

    Given its geographical location and reputation as a major finance and trading hub, Singapore firms need to take extra care to avoid implicating themselves in sanctioned transactions.

    Enforcement

    Singapore Police Open Probe into Renowned Oil Trader

    By Editors | 21/04/2020

    Hin Leong Trading’s founder admitted to concealing $800mn in losses from oil futures. The firm now unpaid debts of $3.85bn. Up to 23 banks are affected.

    ESG / Sustainability

    MAS Launches New Facility to Pump Cheap Loans to SMEs

    By Editors | 20/04/2020

    “Banks and finance companies will be able to make more loans to SMEs and at lower cost – in fact, we expect them to do so,” said MAS Managing Director Ravi Menon.

    Market Infrastructure

    MAS, ESMA Sign MOU on Singapore’s Financial Benchmarks

    By Editors | 18/04/2020

    The MOU and last year’s equivalence decision from the European Commission ensure that FIs in the EU can continue using SIBOR and the SOR as reference rates in their contracts.

    Securities / Derivatives

    UPDATED – Singapore REITs Granted Relief on Cash Flow, Fundraising

    By Editors | 17/04/2020

    MAS is raising the leverage limit for S-REITs and deferring implementation of the minimum interest coverage ratio requirement, on top of recently-announced enhanced share issue limits.

    Fintech / Regtech

    Two Singapore Bodies Merge to Form New Blockchain Association

    By Editors | 15/04/2020

    The new industry body will be co-chaired by SFA president Chia Hock Lai and OneConnect Financial Technology’s APAC chief Ms Tan Bin Ru.

    AML / KYC

    MAS, ABS Push Greater Adoption of Digital Financial Services

    By Editors | 10/04/2020

    The Association of Banks in Singapore, support by MAS, is offering incentives to encourage uptake and usage of peer-to-peer funds transfer service PayNow.

    Securities / Derivatives

    SGX Marks First Listing of Dual Class Shares in Digital Ceremony

    By Editors | 10/04/2020

    AMTD International’s listing ceremony was SGX’s first to be conducted digitally with a live global broadcast. It was also the first SGX listing of a NYSE company.

    Fintech / Regtech

    MAS Extends Assessment Period for Digital Bank Decisions

    By Editors | 09/04/2020

    Successful digital bank applicants will be informed in the second half of this year, instead of June 2020 as originally intended.

    Fintech / Regtech

    MAS Unveils Support Package to Bolster Financial Sector Capabilities

    By Editors | 08/04/2020

    The package includes training allowances, IBF course subsidies, salary support, digital acceleration grants, and free access to API Exchange.

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