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Enforcement
Singapore: Ex-Fund Manager Charged for Acts Likely to Defraud Investors
By Editors | 27/10/2020
The former fund manager allegedly sold bonds at lower-than-market prices from one fund he managed to another fund, knowing there were higher offers for the same bonds.
Market Infrastructure
Singapore Publishes Timelines, Guidance to Support Transition to SORA
By Manesh Samtani | 27/10/2020
Under the timelines, all lenders and borrowers will stop issuing SOR-linked loans and securities that mature after 2021 by end-April 2021.
Capital / Liquidity
MAS Proposes Amendments to RMO Capital Requirements
By Manesh Samtani | 26/10/2020
MAS proposes to introduce a direct liquidity requirement for recognised market operators, and to revise downward the solvency requirement.
AML / KYC
MAS Bans Former BSI Banker Over 1MDB ‘Secret Profits’
By Editors | 23/10/2020
The former banker received about $5mn in fund management fees in an entity he beneficially owned, at the expense of and without the knowledge of BSI Bank.
Market Infrastructure
MAS, IBF Take Steps to Prevent Financial Sector Job Losses
By Editors | 20/10/2020
IBF will run surveys every six months to obtain data about job losses at FIs to offer their staff reskilling support and possible redeployments in the industry.
Market Infrastructure
MAS Consults on New Rules for Licensed Credit Bureaus
By Sanday Chongo Kabange | 19/10/2020
Credit bureaus will be subject to similar technology risk management requirements and cyber security measures as required of other financial institutions in Singapore.
ESG / Sustainability
MAS Outlines Next Steps in Green Finance Action Plan
By Shruti Khairnar | 19/10/2020
As part of a vision to make Singapore the leading centre for green finance in Asia, MAS will incorporate climate-related scenarios in its annual stress tests “within the next two years”.
AML / KYC
SoW/SoF Checks: What Does Good Look Like?
By Editors | 18/10/2020
Regulation Asia spoke to financial crime compliance experts about the ongoing effort required to achieve and maintain high standards for source of wealth and source of funds checks.
AML / KYC
MAS’ Use of Tech to Enhance Regulatory, Supervisory Functions
By Manesh Samtani | 17/10/2020
A recent FSB report offered case studies of how regtech and suptech are being deployed by regulators, including several examples from MAS.
Securities / Derivatives
MAS Grants BondEvalue Recognised Market Operator Licence
By Editors | 16/10/2020
BondEvalue operates BondbloX Bond Exchange, a blockchain-based exchange that allows for bonds to be traded in USD 1,000 lots.
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