Monetary Authority of Singapore

AML / KYC

MAS to End Pre-Approval Requirement for Non-Face-to-Face KYC

By Samuel Riding | 17/01/2018

Regulator says money changers, remittance firms don’t need pre-approval for video-onboarding and other tech, but must have non-face-to-face procedures audited.

Crypto / Digital Assets

MAS in Talks with Blockchain Firm Ripple on Cross Border Payments

By Manesh Samtani | 15/01/2018

Ripple chief says technology can speed up cross-border transactions from days to second, save banks trillions in collateral held against settlement risks.

AML / KYC

Singapore to Enforce AML/CTF Rules on Cryptocurrency Intermediaries

By Garima Chitkara | 10/01/2018

Deputy prime minister says no major AML lapses have been found at Singapore banks when asked about ‘Russian Laundromat’ probe.

Capital / Liquidity

Singapore Proposes Changes to Large Exposure Rules

By Garima Chitkara | 08/01/2018

MAS to impose large exposures limit of 25 percent of tier 1 capital on any counterparty or single counterparty group; will include large exposures to banks.

Capital / Liquidity

MAS to Expand Range of Eligible Collateral to Include Commodities for IRB Banks

By Editors | 21/12/2017

Banks using internal ratings for credit risk under Basel guidelines will be allowed to have commodities as physical collateral.

AML / KYC

Singapore Issues 7th, 8th Bans Related to 1MDB Probe

By Editors | 20/12/2017

Yeo Jiawei, a former BSI wealth manager, gets lifetime ban to add to his convictions for 1MDB related money laundering, cheating and witness tampering.

Market Infrastructure

Japan, Singapore Developing Cross-border DLT Trade Prototype

By Editors | 07/12/2017

Mitsubishi UFJ- NTT DATA  distributed ledger expected to make cross-border flows more secure through single, unified platform.

Crypto / Digital Assets

BoJ Expects Large IT Firms to Become Systemically Important

By Samuel Riding | 07/12/2017

Haruhiko Kuroda says global IT platform providers could pose systemic risk through holding vast amounts of data, adds to warnings on algo contagion.

Capital / Liquidity

ESMA to Bring 3rd-country CRAs, Trade Repositories Under EU Supervision

By Samuel Riding | 04/12/2017

ESMA executive director Verena Ross says more than 200 non-EU trading venues have asked for exemptions from MiFID II post-trade transparency, position limits.