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Market Infrastructure
MAS Proposes Exemption Framework for Foreign Offices of FIs
By Editors | 15/03/2021
MAS is proposing to introduce an exemption framework for foreign head offices or branches that is similar to the proposed notified FRC framework issued in June 2020.
Enforcement
Singapore Court Jails, Fines Ex-Director for False Trading
By Editors | 15/03/2021
The former director of investment and corporate advisory firm WLA Regnum was jailed and fined for false trading and deceiving UOB Kay Hian.
ESG / Sustainability
MAS to Place $2bn With Green Asset Managers ‘Soon’
By Manesh Samtani | 09/03/2021
Ravi Menon said MAS has identified the asset managers who will participate in the Green Investments Programme announced in November 2019.
Big Picture
PwC Offers ESG Risk Management Recommendations for Banks
By Manesh Samtani | 09/03/2021
Banks need to adopt training and change management programmes to ensure employees embrace ESG risk management as a requirement and discipline.
AML / KYC
Singapore Banks Asked to Monitor Myanmar Fund Flows
By Manesh Samtani | 05/03/2021
MAS is concerned about financial crime risk. New cash withdrawal limits have been imposed in Myanmar. A military-owned bank has suspended operations.
AML / KYC
Singapore Cuts Down Time to Freeze Bank Accounts
By Ranamita Chakraborty | 04/03/2021
Singapore Police have collaborated with over 20 FIs to reduce the time it takes to freeze bank accounts with suspected links to scammers.
Enforcement
MAS Bans Four Individuals Following False Trading Convictions
By Editors | 04/03/2021
Three former remisiers and one former insurance agent were banned following convictions connected to false trading in Catalist-listed Koyo International.
MAS, ABS Offer Guidance on Managing Remote Working Risks
By Manesh Samtani | 02/03/2021
The paper looks at possible risks to FIs in the areas of operations, technology, information security, fraud, staff misconduct, among others.
Enforcement
MAS Bans Former Insurance Broker for Dishonest Conduct
By Editors | 25/02/2021
The former insurance broker was banned for unauthorised selling of general insurance when he was only licensed to sell life policies.
AML / KYC
Financial Crime Challenges and Opportunities for the Year Ahead
By Editors | 24/02/2021
Financial crime compliance experts Radish Singh, Richard Carrick, Oonagh van den Berg and Michael Meadon discuss challenges and opportunities for the year ahead.
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