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Market Infrastructure
Fed Establishes FX Swap Lines with Nine Central Banks
By Editors | 19/03/2020
Temporary currency swap lines will be established with 9 central banks – including BOK, RBA, MAS and RBNZ – to lessen the strain on US dollar funding markets.
Securities / Derivatives
MAS Revises Code on Collective Investment Schemes
By Manesh Samtani | 16/03/2020
The changes extend the requirements imposed on approved trustees and managers to VCCs, VCC directors and VCC custodians, while also introducing a best interest duty.
Market Infrastructure
MAS 610/1003 Pilot Testing Gateway Set for April Launch
By Manesh Samtani | 02/03/2020
A six-month parallel reporting phase for the new MAS 610/1003 returns was meant to start from 1 April, but this was pushed forward by three months earlier in the year.
Fintech / Regtech
Is RegTech Coming of Age in Australia?
By Stephen Scott | 25/02/2020
Regtech is not fintech, says Stephen Scott at Starling. While fintech firms look to regulators for permission, what most regtech firms require from regulators is their collaboration.
Market Infrastructure
MAS Issues Guidance on Investment Suitability, Pricing in Private Banking
By Editors | 17/02/2020
MAS looks to private banks’ boards and senior management to ensure the effectiveness of policies, processes, controls and systems in sales and advisory practices, and to shape the staff behaviour.
Market Infrastructure
IMF, MAS Offer Guidance on Assessing Cyber Risk
By Manesh Samtani | 12/02/2020
A new IMF-MAS paper presents data sources and methods that can be used to analyse and assess cyber risk, illustrated with applications to Singapore.
MAS Issues Advisory to FIs Amid Higher Coronavirus Alert Level
By Editors | 10/02/2020
MAS asks financial institutions to ensure business continuity and warns that cyber threat actors are taking advantage of the novel coronavirus situation to conduct email scams, phishing and ransomware attacks.
MAS Proposes New Requirements for Insurers Managing Par Funds
By Editors | 07/02/2020
Among the new requirements introduced for insurers is an obligation to ensure that any charge or expense allocated to the Par Fund is “fair and reasonable”.
Market Infrastructure
US, Singapore Jointly Declare Opposition to Data Localisation
By Editors | 06/02/2020
The US and Singapore support allowing financial service suppliers to transfer data across borders and oppose generally applicable data localisation requirements.
ESG / Sustainability
MAS to Broaden Range of Climate Risks Included in Stress Tests
By Editors | 05/02/2020
The current priority is to collect climate-related data and understand how it impacts FIs in order to conduct a proper stress test, says MAS board member Ong Ye Kung.
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