Singapore

AML / KYC

Singapore Raises Fines for Money Laundering Breaches by CSPs

By Nithya Subramanian | 04/07/2024

Existing laws have been amended to ensure that nominee directors are deemed “fit and proper” and misuse of directorships can result in significant penalties.

Enforcement

Singapore Jails Former Fund Manager for Deceptive Conduct

By Editors | 04/07/2024

Sun Weiyeh is the first to be convicted under the SFA for fraudulent or deceptive conduct relating to OTC bond trading.

Enforcement

MAS Fines GSG Capital Director for Insider Trading

By Editors | 04/07/2024

The sole shareholder and director of GSG Capital bought shares in SGX-listed GS Holdings while in possession of material non-public information.

AML / KYC

Singapore Introduces New Anti-Money Laundering Bill

By Nithya Subramanian | 04/07/2024

The new Anti-Money Laundering and Other Matters Bill aims to make it easier to prosecute money laundering cases and tightens casino rules.

AML / KYC

Singapore Withdraws Tax Incentives for SFOs in Money Laundering Case

By Nithya Subramanian | 03/07/2024

The total value of assets forfeited from convicted individuals with links to SFO funds far exceeds any tax benefits, said Gan Kim Yong.

Crypto / Digital Assets

MAS Grants Paxos Full Approval to Offer Stablecoins in Singapore

By Nithya Subramanian | 03/07/2024

Paxos is partnering with DBS Bank for cash management and the custody of stablecoin reserves.

AML / KYC

Singapore Releases Two Reports Tackling Terrorism Financing

By Nithya Subramanian | 02/07/2024

The updated TF National Risk Assessment found that money remittances remain High-Risk, while the refreshed strategy for CFT calls for robust regulatory regimes.

Market Infrastructure

Project Nexus Completes Blueprint; Prepares for Live Implementation

By Nithya Subramanian | 02/07/2024

To facilitate live implementation, a new entity named the Nexus Scheme Organisation, will be established.

Securities / Derivatives

Abaxx Launches LNG, Carbon Futures Trading in Singapore

By Editors | 29/06/2024

The new commodity futures contracts will provide market participants with new price discovery and risk management tools, Abaxx said.