Monetary Authority of Singapore

Market Infrastructure

MAS Official Warns of Financial Sector Job Losses in H2

By Editors | 13/08/2020

Supporting the local workforce in the financial sector during the crisis is a priority for MAS, according to deputy managing director Jacqueline Loh.

Capital / Liquidity

MAS Calls on Finance Companies to Moderate Dividends

By Editors | 08/08/2020

The dividend restriction is a pre-emptive measure to bolster the finance companies’ ability to continue to support the credit needs of businesses and consumers.

AML / KYC

Singapore Authorities Issue First Charges in Wirecard Probe

By Editors | 08/08/2020

A director of Citadelle Corporate Services is said to have “wilfully and with intent to defraud” stated false balances held in escrow on behalf of Wirecard in 2016 and 2017.

Fintech / Regtech

MAS to Set Up Regional Digital Finance Institute

By Sanday Chongo Kabange | 06/08/2020

The Asia Institute of Digital Finance will be jointly operated by MAS, the National Research Foundation and the National University of Singapore.

Market Infrastructure

MAS Announces New Initiatives to Support SORA Adoption

By Editors | 05/08/2020

The initiatives aim to catalyse greater activity in SORA markets, safeguard the benchmark’s integrity and enhance market confidence in SORA.

Market Infrastructure

APAC Firms Lag in IBOR Transition Preparation – Report

By Manesh Samtani | 05/08/2020

Apart from G-SIBs operation in the region, APAC firms are not prepared for the transition away from IBORs, according to a new report from Sia Partners.

AML / KYC

MAS Issues Guidance on AML/CTF Enterprise-wide Risk Assessments

By Manesh Samtani | 04/08/2020

Financial institutions are directed to study the guidance to identify and address gaps in their EWRA frameworks and processes.

Market Infrastructure

MAS Awards StanChart Special Privileges for ‘Significant Rootedness’

By Manesh Samtani | 04/08/2020

The regulator also has plans to allow certain banks that are significantly rooted in Singapore to obtain full bank licences and set up digital-only subsidiaries.

ESG / Sustainability

Culture Audits: Removing the Blindfold

By Stephen Scott | 03/08/2020

To avoid individual liability, leaders along all Three Lines of Defence must identify indicators of non-financial risk that permit “upstream” interventions, say Stephen Scott and Mark Cooke.