Monetary Authority of Singapore

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.

Fintech / Regtech

Singapore Accelerates Shift to Digital Economy

By Manesh Samtani | 21/06/2018

MAS board member Ong Ye Kung pledges to eliminate cheque usage by 2025, while also reducing the need for ATM cash withdrawals, through increased adoption of e-payments.

Fintech / Regtech

HK Virtual Bank Licence Offers Nothing New for Local Market

By Peter Guy | 20/06/2018

The HKMA and its new regulations fail to recognise that virtual banking has long existed. Redundant and irrelevant rules only hold back fintech development in Hong Kong.

Fintech / Regtech

MAS 610 a Top Concern for Singapore Banks in 2019 – Report

By Manesh Samtani | 15/06/2018

High granularity data for new reporting regime requires reporting of approx. 300,000 data elements, the top concern for Singapore banks next year, according to Wolters Kluwer survey.

Enforcement

FS-ISAC Establishes Global Forum for Cyber Threat Information Sharing

By Garima Chitkara | 14/06/2018

Inaugural global community CERES Forum to bring together financial regulators, central banks and supervisors to combat cyber and physical crime, enhancing financial sector resiliency.

Securities / Derivatives

Singapore to Introduce New Corporate Structure For Funds

By Garima Chitkara | 07/06/2018

S-VACC, Singapore’s new investment firm structure, will come into effect by next year and will help boost synergies between firm management and domiciliation, according to MAS managing director.

Fintech / Regtech

Singapore, India Establish Joint Working Group on FinTech

By Karen Chiu | 06/06/2018

Joint working group to foster closer fintech cooperation, including through real-time cross border fund transfers and links between payment system operators.

Market Infrastructure

NSE-SGX Dispute Runs Afoul of MSCI

By Garima Chitkara | 31/05/2018

MSCI considering placing India on notice due to “burdensome” SEBI registration process and stock exchange action that could restrict global availability of investment instruments.

Securities / Derivatives

Singapore to Require Reporting of Short Selling Information

By Garima Chitkara | 31/05/2018

Short sellers will have report their positions and short sell orders on SGX-listed securities to the MAS starting October this year; MAS rules expected to improve transparency.