MONETARY AUTHORITY OF SINGAPORE

Securities / Derivatives

SGX, NSE Resume Talks on Possible GIFT City Collaboration

By Garima Chitkara | 26/07/2018

The arbitrator has deferred judgement on the data sharing dispute until talks on collaboration between the two exchanges on a trading and settlement platform at GIFT City conclude.

AML / KYC

SingHealth Breach Prompts MAS Tightening of Customer Verification

By Garima Chitkara | 26/07/2018

MAS asked financial institutions to use additional information like one-time passwords and biometrics to identify consumers over and above existing consumer verification processes.

Fintech / Regtech

Technology and Regulation: Rapidly Reforming the Funds Industry

By Leo Chen | 25/07/2018

The Asian funds industry is undergoing a period of fundamental change and challenge. This is a result of shifting investor demographics, rapid technological development, the emergence of technology firms and tightening regulation.

AML / KYC

Combating Financial Crime with Data Analytics – MAS

By Manesh Samtani | 24/07/2018

In the year ahead, the MAS will focus on the use of data analytics as well as boosting industry collaboration in its fight against money laundering and terrorism financing.

Capital / Liquidity

MAS Consults on Resolution Regime Amendments

By Editors | 21/07/2018

Amendments include introduction of a contractual recognition requirement into financial contracts governed by foreign laws, the statutory bail-in regime, and creditor compensation framework, among others.

Fintech / Regtech

Singapore, Korea Agree to Cooperate on Fintech

By Garima Chitkara | 19/07/2018

MAS and Korea’s FSC have signed an agreement to provide regulatory support to fintech firms from either country looking to expand in the other.

AML / KYC

MAS Proposes Amendments to Misconduct Reporting Regime

By Garima Chitkara | 12/07/2018

Proposed changes aim to provide greater clarity on requirements and reduce errors in the submission of misconduct reports; reference checks to be mandatory when recruiting staff.

Market Infrastructure

AxiomSL Announces Completion of Open Taxonomy to Streamline MAS 610 Compliance

By Manesh Samtani | 09/07/2018

Industry initiative has condensed over 300,000 data points required by MAS 610 into 1,000 reuseable business concepts, simplifying and streamlining compliance with the reporting mandate.

Enforcement

MAS Reprimands Asset Manager for Late Regulatory Submissions

By Manesh Samtani | 08/07/2018

Annual declarations, auditor reports and director change notifications were submitted up to three years late by Taiyo Asset Management; director found guilty of misconduct for failure to implement compliance controls.