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Capital / Liquidity
Singapore Bank Resolution Regime Favours Bailouts Over Credit Bail-ins – Moody’s
By Garima Chitkara | 05/04/2018
Singapore regulations favour bailouts over creditor bail-ins as bail-in buffers only comprise 1-2% of Singapore bank assets, says Moody’s.
Fintech / Regtech
MAS Guidance on AI, Data Analytics In The Works
By Editors | 04/04/2018
Key financial industry stakeholders to co-create guide setting out key principles, best practices to strengthen governance, reduce data misuse risks.
AML / KYC
MAS Fines StanChart Units $4.9mn for AML/CTF Breaches
By Editors | 20/03/2018
The bank’s Singapore branch and trust unit failed to adequately assess and mitigate risks that clients were trying to avoid CRS reporting obligations.
AML / KYC
Money 20/20: MAS Speaks Out on Crypto Risks, Blockchain
By Manesh Samtani | 17/03/2018
In a speech at Money 20/20 Asia, MAS managing director Ravi Menon spoke about the promise of blockchain technology and containing cryptocurrency risks; AML/CTF risks present a “clear and present danger”.
Fintech / Regtech
MAS to Streamline Data Submissions, Reduce Burden for FIs
By Editors | 16/03/2018
Financial institutions will be allowed to decline MAS requests for previously-submitted data; new regulatory returns to be submitted in machine-readable formats.
Market Infrastructure
MAS to Weigh in on Bank HR Practices
By Samuel Riding | 15/03/2018
Advisory group will develop best practices for the industry, including more inclusive, skills-based hiring policy.
Enforcement
MAS, CAD to Jointly Investigate All Capital Markets, Financial Advisory Offences
By Editors | 14/03/2018
MAS and CAD will consolidation investigative resources and expertise for all capital market and financial advisory offences, effective 17 March.
Market Infrastructure
SGX to Merge OTC, Exchange Derivatives into Single Risk Class for Clearing Fund
By Samuel Riding | 14/03/2018
Move follows MAS consultation on moving all OTC derivatives contracts onto organised markets.
Capital / Liquidity
FSB Issues Singapore Peer Review
By Samuel Riding | 27/02/2018
Board suggests MAS need to state who is responsible for macro-prudential oversight; wants resolution regime extended to market infrastructure.
Market Infrastructure
Singapore to Shift OTC Derivatives to Organised Markets
By Editors | 22/02/2018
The trading obligations would apply to banks with gross notional outstanding OTC derivatives exceeding SGD20 billion.
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