Singapore

Crypto / Digital Assets

New Bill to Give MAS Greater Investigative Powers

By Nithya Subramanian | 11/01/2024

The proposed law broadens the regulator’s power over unregulated businesses and expands its oversight on key appointments and removals.

Big Picture

Teething Issues: OTC Derivatives Reporting Rewrites in APAC

By Manesh Samtani | 10/01/2024

The more challenging aspects of implementation involve jurisdiction-specific data fields, the UTI waterfall, UTI generation, and ISO 20022.

AML / KYC

Singapore Tables Bill to Strengthen Measures Against PF Risk

By Editors | 10/01/2024

Gem and precious metal dealers, legal practitioners, moneylenders and pawnbrokers will be required to address proliferation financing risks.

Singapore FIDReC Proposes to Raise Adjudication Award Limit

By Editors | 09/01/2024

The adjudication award limit is set at SGD 100,000, however FIDReC says the number of claims exceeding this limit has risen in recent years.

Crypto / Digital Assets

Singapore: AsiaNext Launches Trading in Crypto Derivatives

By Editors | 09/01/2024

AsiaNext said its trading members already include B2C2, Wintermute Group, JB Drax Honoré and Trovio Group.

Crypto / Digital Assets

MAS Awards Major Payment Institution Licence to Upbit Singapore

By Ranamita Chakraborty | 09/01/2024

The licence means Upbit now has regulated digital asset businesses in Singapore, Korea, Indonesia and Thailand.

ESG / Sustainability

Singapore Professional Bodies to Boost Sustainability Services

By Mark Johnston | 08/01/2024

ISCA and LawSoc Singapore have launched a three-year programme to help firms offer sustainability services.

Capital / Liquidity

MAS Finalises Recovery Planning Requirements for Insurers

By Nithya Subramanian | 02/01/2024

Recovery plans should include a “framework of recovery triggers”, an escalation process, a menu of recovery options, and a communication plan.

Enforcement

Singapore Announces Criminal Charges Over DPRK Gasoil Sales

By Editors | 26/12/2023

Defendants are accused of shipping gasoil to North Korea in violation of UN sanctions via the MT Courageous, an oil tanker seized by the US in 2021.