Singapore

Enforcement

SGX RegCo to Boost Regulatory Presence, Oversight

By Manesh Samtani | 08/08/2019

At a regulatory briefing on Wednesday, SGX RegCo CEO Tan Boon Gin laid out the work ahead to enhance investor confidence and deter wrongdoing.

Fintech / Regtech

MAS Launches Faster Option Sandbox Testing

By Editors | 08/08/2019

Sandbox Express entails an approval process of just 21 days before firms can start testing innovative financial products and services in a pre-determined environment.

Market Infrastructure

Singapore Finalises Tax Framework for VCCs

By Editors | 07/08/2019

An umbrella VCC needs to file a single corporate income tax return, regardless of the number of sub-funds. GST and stamp duty will be applied at the sub-fund level.

Market Infrastructure

MAS Mandates Baseline Requirements on Cyber Hygiene

By Editors | 07/08/2019

The legally binding cyber hygiene requirements must be implemented by all MAS regulated financial institutions by 6 August 2020.

Market Infrastructure

SGX-NSE GIFT City Trading Link Receives Regulatory Approval

By Editors | 07/08/2019

The so-called ‘NSE IFSC-SGX Connect’ is set to become operational by end-2020, ending a dispute between the two exchanges.

AML / KYC

MAS Targets Market Abuse with Proposed New Requirements

By Editors | 06/08/2019

Capital market licensees will have to record all client communications and capture their mobile device IDs. Foreign intermediaries will have to provide UBO information on request.

Market Infrastructure

ABS Updates Guidance on Cloud Outsourcing Arrangements

By Manesh Samtani | 05/08/2019

The updated guide offers best practices to ensure resiliency and recoverability while maximising the benefits FIs derive from cloud outsourcing arrangements, including for ‘critical systems’.

Big Picture

Singapore: Two-Thirds of Consumers Willing to Try Digital Banks

By Editors | 03/08/2019

A JD Power survey has found that 65% of Singapore customers are interested in opening digital bank accounts. The survey ranked HSBC first, OCBC second and DBS third in customer satisfaction.

Market Infrastructure

Singapore, Australia Benchmarks Gain EU Equivalence

By Editors | 30/07/2019

The European Commission has adopted equivalence decisions for Australian and Singapore financial benchmarks, but repealed existing equivalence for credit rating agencies.