Singapore

Crypto / Digital Assets

Crypto Exchange Luno to Close Singapore Operations in June

By Sanday Chongo Kabange | 21/04/2023

Luno, which received in-principle approval from MAS last year, has decided to stop serving users in Singapore.

Ravi Menon Reported to be Leaving MAS This Year

By Editors | 20/04/2023

Ravi Menon is MAS’ longest-serving managing director. Former deputy managing director Chia Der Jiun is tipped to be Menon’s successor.

Market Infrastructure

NSE IFSC-SGX Connect to Fully Launch on 3 July

By Editors | 18/04/2023

SGX will migrate all open positions in SGX Nifty to the relevant NSE IFSC NIFTY contracts during the weekend of 30 June.

AML / KYC

New Singapore Bills Target Money Mules, Singpass Abuse

By Manesh Samtani | 18/04/2023

The MHA and SNDGO proposed amendments that will empower the police to prosecute money mules and those who sell and trade Singpass credentials.

Securities / Derivatives

MAS: “Much Room for Improvement” in Issue Manager Conduct

By Editors | 18/04/2023

MAS identified issue managers that did not perform conflict-of-interest checks, background checks on EDs and controlling shareholders, and site visits to issuers’ material assets.

MAS Maintains Monetary Policy Stance, Warns of Slow Growth

By Editors | 14/04/2023

MAS said its five successive monetary policy tightening moves since October 2021 have “tempered the momentum of price increases”.

AML / KYC

UPDATED – Singapore Bankers Asked to Avoid Discussing Inflows from China

By Editors | 14/04/2023

Regulators asked private bankers to avoid attributing large fund inflows to Chinese wealth as this is seen as a politically sensitive issue.

Crypto / Digital Assets

Singapore to Set Crypto Client Onboarding Standards for Banks

By Editors | 10/04/2023

The “industry-driven project” has been ongoing for about six months, with participation from MAS and Police in a banks-led working group.

Fintech / Regtech

APAC Regulators Form New Forum to Address Cloud Risk

By Sanday Chongo Kabange | 06/04/2023

MAS assistant managing director Vincent Loy said the twice-a-year forum will help APAC regulators and CSPs ensure greater resilience of cloud adoption in the financial sector.