MONETARY AUTHORITY OF SINGAPORE

AML / KYC

Singapore’s COSMIC Initiative Will Prioritise Consumer Safeguards

By Nithya Subramanian | 12/03/2024

COSMIC, launching in May, requires banks to implement a number of safeguards to protect legitimate customers from having their information shared.

Enforcement

Singapore Passes Bill to Give MAS Greater Investigative Powers

By Editors | 08/03/2024

The Bill enhances MAS’ evidence-gathering powers and facilitates greater inter-agency coordination for all parts of the financial sector.

Enforcement

Three Charged in Singapore Over Links to Billion-dollar Nickel Fraud

By Editors | 08/03/2024

The former CEO and two directors of Envysion Wealth Management have been charged over poor risk management and failure to mitigate conflicts of interest.

Crypto / Digital Assets

Bitstamp Wins In-principle Licence Approval in Singapore

By Nithya Subramanian | 07/03/2024

The European crypto exchange will focus on institutions, including payment processors, fintech companies and brokerages.

ESG / Sustainability

SGX RegCo Consults On Integrating ISSB Standards Into Listing Rules

By Nithya Subramanian | 07/03/2024

SGX RegCo proposes to make it mandatory for listed companies to report on sustainability, compared to the current “comply or explain” approach.

Enforcement

SFC, HKEX Jointly Take Action Against GEM-Listed Firm

By Sanday Chongo Kabange | 06/03/2024

Two former directors misappropriated assets by paying an IPO consultant who subsequently rerouted the funds back to the directors.

ESG / Sustainability

Singapore Offers Grants to Help Firms in Sustainability Reporting

By Nithya Subramanian | 04/03/2024

The grant will help companies cover a portion of their costs in producing their first sustainability report in Singapore.

AML / KYC

“Money Lock” is Effective in Scam Protection: Singapore Minister

By Nithya Subramanian | 01/03/2024

Minister Alvin Tan said there have been no scam reports involving funds under Money Lock, and that other banks will roll out the feature by mid-2024.

Securities / Derivatives

MAS Updates Guidelines for Fund Management Companies

By Manesh Samtani | 29/02/2024

The main amendment concerns compliance arrangements FMCs should have in place. MAS also reminded auditors of their FMC-related obligations.