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Enforcement
SFC Signs Enhanced MoU on Cross Border Enforcement Cooperation
By JP Reimann | 13/05/2018
Enhanced IOSCO framework enables securities regulators to obtain and share audit working papers, telephone, internet records; compel attendance at interviews; provide guidance on freezing of assets.
Fintech / Regtech
Singapore Fast Tracks AI Adoption in Financial Sector
By JP Reimann | 08/05/2018
MAS partners with government agency, media regulator and professional body to promote adoption of AI products and services in financial sector.
AML / KYC
MAS Hits Former Credit Suisse Banker with Prohibition Orders
By Editors | 07/05/2018
Former representative deliberately concealed identity of beneficial owner on three accounts, making it difficult for the bank to monitor and detect suspicious transactions.
Market Infrastructure
Singapore to Mandate Central Clearing of OTC Derivatives
By Editors | 02/05/2018
Mandatory clearing to apply to SGD and USD fixed-floating interest rate swaps; applicable to banks with OTC derivatives exceeding SGD20 bn.
Enforcement
Singapore Raises Accountability, Conduct Standards at FIs
By Garima Chitkara | 30/04/2018
MAS has released guidelines on promoting individual accountability of senior managers, strengthening employee oversight, and embedding ‘proper conduct’ standards at financial institutions.
Fintech / Regtech
Singapore, Vietnam Sign Fintech, Banking Supervision Agreement
By JP Reimann | 26/04/2018
The central banks have agreed on a partnership to encourage fintech innovation and strengthen banking supervision.
AML / KYC
Banks Should Implement Wolfsberg KYC Initiative – MAS
By JP Reimann | 23/04/2018
MAS urges Singaporean banks to incorporate Wolfsberg due diligence questionnaire in risk assessment processes relating to correspondent banking relationships.
AML / KYC
Philippines Targets Retail Finance Digitalisation
By Garima Chitkara | 19/04/2018
BSP governor laid out the central bank’s regulatory priorities in fintech and regtech while revealing regulation around AML/KYC requirements and mitigating the risks surrounding data security.
Capital / Liquidity
Singapore Issues TLAC Consultation
By Editors | 12/04/2018
Monetary Authority aims to bring Singapore in line with Basel III capital treatment of capital holdings from January next year.
Market Infrastructure
ASEAN ‘Close’ to Financial Services Free Trade Agreement
By Samuel Riding | 09/04/2018
Statement says deal on trade in services close to agreement, ASEAN members to also update wider agreement on cross-border services this year.
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