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Fintech / Regtech
MAS Targets Market Abuse, Misconduct, AML Control Breaches
By Editors | 04/11/2020
In its latest enforcement report, MAS highlights its work to strengthen early detection of market misconduct, including through Apollo, an augmented intelligence system.
Relief Available to S-REITs, SMEs Harmed by Re-align Framework: MAS
By Editors | 04/11/2020
While financial contracts are excluded from the Framework, some SMEs and S-REITs may be adversely impacted by the legislative measures.
AML / KYC
MAS to Discontinue S$1,000 Note to Prevent Money Laundering
By Editors | 03/11/2020
Large denomination notes allow individuals to carry large values of money anonymously, and can facilitate money laundering and other illicit activities, MAS says.
AML / KYC
Singapore Bill to Align Payment Services Act with FATF Standards
By Editors | 03/11/2020
The bill will expand the definition of a DPT service, broaden the definition of cross-border money transfer service, and allow MAS to impose measures on DPT services providers.
ESG / Sustainability
Singapore Lenders Launch New Debt Restructuring Scheme for SMEs
By Manesh Samtani | 01/11/2020
The scheme will facilitate a common approach to SME debt restructuring among 16 participating lenders. A separate scheme has been launched for sole proprietors and partnerships.
Enforcement
MAS Bans Two Former Bankers for Fraud, Dishonest Conduct
By Editors | 01/11/2020
The former OCBC treasury advisor placed unauthorised FX trades in client accounts, while the former UOB relationship manager made unauthorised bank transfers.
Enforcement
Singapore Courts Charge Two for Cheating, False Trading
By Editors | 30/10/2020
Ex-KTL Global CEO Tan Kheng Yeow and OCBC Securities trading rep Tan Chun Yong are said to have been involved in a conspiracy for false trading.
Market Infrastructure
Bovill Research Calls into Question Efficacy of FCA’s SMCR
By Shruti Khairnar | 28/10/2020
The FCA’s experience with SMCR could inform senior management regimes in other jurisdictions such as Singapore, Australia and Hong Kong.
Crypto / Digital Assets
DBS to Launch Digital Exchange, Subject to Regulatory Approvals
By Editors | 28/10/2020
The exchange will offer trading services from fiat currencies to four of the top digital currencies in circulation, as well as capital raising through STOs.
Capital / Liquidity
MAS Seeks Removal of REIT Manager for SFA Breaches
By Editors | 27/10/2020
Eagle Hospitality REIT Management breached the minimum base capital and financial resources requirements under the SFA three times in the span of about a year.
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