MONETARY AUTHORITY OF SINGAPORE

Fintech / Regtech

Five BNPL Providers to Become Accredited in Singapore

By Nithya Subramanian | 02/04/2024

The five providers are being awarded a Trustmark that will signify their accreditation and compliance with the BNPL Code of Conduct.

Fintech / Regtech

DBS Making Good Progress on Technology Resiliency: CEO

By Nithya Subramanian | 02/04/2024

“Complete clarity” on whether transactions are successful will be made available by end-April, along with options for alternative channels when the system is down.

Securities / Derivatives

RFMCs Have Until 30 June to Apply for New LFMC Licences: MAS

By Nithya Subramanian | 02/04/2024

RFMCs have a three-month window to apply to transition to the LFMC regime, following which the RFMC regime will be repealed on 1 August.

AML / KYC

MAS Proposes to Require Market Operators to Conduct AML/CFT Checks

By Nithya Subramanian | 01/04/2024

The checks would have to be performed on non-FI market participants that trade directly on organised markets without going through capital market intermediaries.

AML / KYC

‘COSMIC’ Information Sharing Platform Launches in Singapore

By Editors | 01/04/2024

COSMIC allow banks to share information on suspicious customers or transactions to help detect and prevent financial crime.

AML / KYC

Singapore: ACIP Sheds Light on Use of Data Analytics for AML/CFT

By Manesh Samtani | 30/03/2024

New paper discusses current and future uses of data analytics for AML/CFT, and how information shared over COSMIC could be leveraged to enhance such solutions.

AML / KYC

MAS Extends Suspension on “Non-Specified Channels” for China Remittances

By Ranamita Chakraborty | 30/03/2024

Since the initial suspension in December, MAS has not received reports of remittances to China being frozen.

Crypto / Digital Assets

UK Proposes Two New Use Cases for Fund Tokenisation

By Manesh Samtani | 29/03/2024

Tokenising MMF units could facilitate their use as collateral, and reduce redemption pressures on MMFs during market stress.

Crypto / Digital Assets

MAS to Clarify Regulatory Treatment of Tokenised Funds

By Ranamita Chakraborty | 28/03/2024

MAS is reviewing its regulatory framework to ensure it addresses the legal and regulatory implications of tokenised funds.