Monetary Authority of Singapore

Capital / Liquidity

MAS Finalises Recovery Planning Requirements for Insurers

By Nithya Subramanian | 02/01/2024

Recovery plans should include a “framework of recovery triggers”, an escalation process, a menu of recovery options, and a communication plan.

AML / KYC

Wirecard Investors File Lawsuit Against EY in Munich

By Nithya Subramanian | 27/12/2023

The group of investors alleged that EY did not ensure accuracy of accounts and claimed EURO 700 million as damages.

AML / KYC

Singapore Authorities Warn of Scammers Posing as MAS Officers

By Mark Johnston | 22/12/2023

The scammers accuse victims of being involved in criminal activities before asking them to transfer money to designated “security accounts”.

Fintech / Regtech

Singaporeans Open to GenAI, but Concerned About Data Security

By Nithya Subramanian | 21/12/2023

A robust and effective data governance strategy will be crucial for banks to ensure responsible use of AI, said Kanv Pandit of FIS.

Crypto / Digital Assets

HashKey Secure Fund Management Licence in Singapore

By Editors | 20/12/2023

With the new licence, HashKey intends to provide regulated fund management services to institutional and accredited investors from Singapore.

AML / KYC

MAS Boosts Due Diligence Checks for SFO Tax Incentive Applicants

By Ranamita Chakraborty | 20/12/2023

To combat money laundering risks, MAS plans to deploy a panel of “specialised firms” to scrutinise individuals and entities associated with SFOs.

AML / KYC

MAS Suspends Non-Bank, Non-Card Channels for China Remittances

By Editors | 19/12/2023

The move is a response to reports that remittances to China made by individuals in Singapore have been subsequently frozen by mainland law enforcement agencies.

Securities / Derivatives

MAS’ Tighter Hiring Norms to Result in Better Compliance

By Nithya Subramanian | 18/12/2023

The updated guidelines for senior appointments in CMS licensed firms will improve corporate governance and ensure better board accountability.

ESG / Sustainability

ICMA Introduces Voluntary Code of Conduct for ESG Ratings

By Ranamita Chakraborty | 15/12/2023

Aligned with IOSCO recommendations, the code seeks to improve transparency and trust in sustainable finance by promoting consistent global standards.