Singapore

Market Infrastructure

CFTC Eases Foreign Clearinghouse Access to US Customers

By Manesh Samtani | 15/07/2019

An alternative compliance regime will be provided for non-US DCOs registered with the CFTC, while exempt DCOs will be allowed to offer clearing through foreign intermediaries.

Market Infrastructure

SGX Launches New Trading Engine from Nasdaq

By Editors | 15/07/2019

The upgrade standardises and unifies SGX’s operations, messaging and data infrastructure, enabling greater flexibility, speed and cost-efficiency when launching new products and services.

Fintech / Regtech

Singapore Marks Launch of First Private Exchange with First Listing

By Editors | 13/07/2019

Backed by SGX and licensed by MAS, 1exchange takes private companies’ shares and puts them into an SPV to back digital tokens that can then be listed and traded by investors.

AML / KYC

OCBC to Speed Up Police Investigations with Automated Data Retrieval

By Editors | 11/07/2019

OCBC Bank and the Singapore Police Force are collaborating on a new project to reduce the amount of time it takes for investigators to access banking information to just 1-2 days.

Securities / Derivatives

SGX RegCo Announces Changes to Voluntary Delisting Rules

By Editors | 11/07/2019

The new rules require exit offers in conjunction with voluntary delistings to be both “reasonable” and “fair”, and exclude the offeror and concert parties from the shareholder vote.

Enforcement

Singapore Convicts Three Front-Runners Under Insider Trading Laws

By Editors | 11/07/2019

Two First State equity dealers told a UOB Kay Hian remisier about their firm’s intended orders to front-run trades in 100 counters, leading to over S$8mn in insider trading profits over 8 years.

Crypto / Digital Assets

Singapore Proposes GST Exemption for Digital Token Payments

By Editors | 09/07/2019

Transactions involving digital tokens or cryptocurrencies that function or are intended to function as a medium of exchange will be exempt from GST.

Enforcement

Former Barclays Singapore Director Gets 13-Year Jail Term

By Editors | 05/07/2019

The former private banker forged signatures and documents to siphon off $10mn from client bank accounts between 2010 and 2013.

Fintech / Regtech

Singapore Digital Banks to Disrupt Smaller Incumbents the Most

By Editors | 04/07/2019

Singapore’s big banks will be able to defend against new digital entrants, while small foreign-owned incumbents will face the greatest disruption risk, says Moody’s Investors Service.