Singapore

Enforcement

Singapore’s Cyber Security Agency Inks MOU in Cybercrime Fight

By Karen Ng | 11/07/2023

The Cyber Security Agency of Singapore aims to protect financial institutions against cybercrime through information sharing and preparation against cyber-attacks.

Market Infrastructure

Singapore Issues Notice on Bloomberg’s Publication of MAS Recommended Rate

By Editors | 10/07/2023

The Spread Adjustment published by Bloomberg “differs slightly” for the overnight and 1-month tenor, the SC-STS explains.

Enforcement

MAS Urges Banks to Stop Use of SMS OTP

By Karen Ng | 10/07/2023

The MAS is urging banks to move away from the sole reliance on SMS OTP as the only authentication factor for transactions.

Enforcement

MAS Punished 17 FIs for Breaching AML/CFT Laws in 5 Years

By Karen Ng | 07/07/2023

A total of 20 investigations have been conducted during the time frame 1 June 2018 to 23 June 2023

Crypto / Digital Assets

DBS Launches e-CNY Merchant Collection Solution

By Editors | 07/07/2023

DBS plans to build on the launch of the e-CNY solution to explore new digital payment solutions, including cross-border CBDC payments.

Capital / Liquidity

Singapore Revises Tax Incentives for SFOs

By Ranamita Chakraborty | 07/07/2023

The Monetary Authority of Singapore is looking to encourage single family offices (SFOs) to “deploy their capital more purposefully to benefit Singapore and the region”.

ESG / Sustainability

Industry Consults on Code of Conduct for ESG Ratings

By Ranamita Chakraborty | 07/07/2023

The code incorporates recommendations from the International Organisation of Securities Commissions and sets out clear guidance for ESG data and rating providers.

AML / KYC

FATF to Bring “Fundamental Change” to Financial Crime Fight

By Karen Ng | 06/07/2023

FATF would scale up its fight against financial crime and bring comfort to victims through better asset recovery.

ESG / Sustainability

Singapore’s SRAC Recommends ISSB-Aligned Climate Reporting

By Ranamita Chakraborty | 06/07/2023

Singapore’s sustainability reporting advisory committee studied ISSB’s exposure draft closely and consulted several stakeholders before making major climate reporting recommendations, chairperson Esther An told Regulation Asia.