Singapore

Enforcement

MAS Imposes Five-Year Ban on Former Nech Capital Trader

By Mark Johnston | 25/09/2024

The former trader executed trades between Nech Capital’s accounts and those of his relatives, causing losses to his employer.

Market Infrastructure

SGX Mulls Establishment of New Office in Dubai – Report

By Nithya Subramanian | 25/09/2024

SGX is exploring the possibility of opening an office in Dubai as a number of major funds relocate to the UAE.

Fintech / Regtech

DBS AI Programme Featured in Harvard Business School Study

By Thisanka Siripala | 25/09/2024

This is the first time an Asian bank or a Singaporean company has been featured by HBS for use in educational programmes.

Enforcement

MAS Suspends Qoo10 Payment Services Over Merchant Complaints

By Nithya Subramanian | 24/09/2024

MAS ordered the suspension after Qoo10 failed to demonstrate that it had the necessary resources to fulfill its payment obligations.

AML / KYC

Japanese Crime Bosses Had Singapore Connection – Report

By Nithya Subramanian | 23/09/2024

Three leaders of the Rivaton Group, which allegedly laundered funds for criminal groups, resided in and were directors of companies in Singapore.

ESG / Sustainability

SGX RegCo Mandates ISSB Aligned Climate Disclosures by 2025

By Nithya Subramanian | 23/09/2024

All listed companies will have to report Scope 1 and 2 emissions and incorporate the ISSB’s climate-related disclosure standards.

AML / KYC

Singapore FIU Seeks Information on Bangladeshi Conglomerate

By Nithya Subramanian | 20/09/2024

The STRO asked the BFIU to provide details on S Alam Group, a Bangladeshi conglomerate that is suspected of money laundering.

Crypto / Digital Assets

DBS to Launch Crypto Options and Structured Notes

By Nithya Subramanian | 20/09/2024

DBS will allow eligible investors to use options trading and structured notes to gain or hedge exposures to Bitcoin and Ethereum.

Fintech / Regtech

Singapore Banks to Roll Out Singpass Face Verification for Scam Protection

By Nithya Subramanian | 19/09/2024

MAS said that the feature will be rolled out over the next three months to strengthen digital token security and safeguard customers from scams.