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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.
Capital / Liquidity
MAS Warns of ‘Medium-term’ Cross-border Financial Stability Risks
By Editors | 04/12/2017
Annual report into stability of financial system says domestic and regional lending improving, no signs of credit market overheating.
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