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Enforcement
Singapore Jails Man for Spoofing, False Telegram Statements
By Editors | 20/12/2022
Kenneth Goh pleaded guilty to creating a false appearance in the market 325 times, deceiving two brokers, and making false statements in Telegram chat groups.
Capital / Liquidity
MAS to Defer Implementation of Final Basel III Reforms
By Editors | 20/12/2022
MAS said it will defer the implementation of the final Basel III reforms in Singapore, to between 1 January 2024 and 1 January 2025.
Securities / Derivatives
Singapore to Amend Law to Allow for Online General Meetings
By Editors | 19/12/2022
Orders introduced early in the pandemic to allow companies to conduct general meetings by electronic means will expire on 1 July 2023.
MAS Proposes to Revise Fair Dealing Guidelines
By Editors | 15/12/2022
MAS proposes to widen the Guidelines to explicitly include all FIs and the corresponding products and services that they offer to their customers.
Securities / Derivatives
IFSCA Mulls Introduction of VCC Structure in GIFT City
By Editors | 08/12/2022
An expert committee set up by the IFSCA in 2020 has proposed a legal framework for introducing the VCC structure for funds operating in GIFT City.
Enforcement
MAS Bans Former UOB, OCBC Representative for 15 Years
By Editors | 08/12/2022
The former representative deceived seven customers into transferring S$2mn to his personal bank accounts by promoting fictitious fixed deposits and other investment products.
Crypto / Digital Assets
MAS Grants MetaComp Licence to Offer DPT Services in Singapore
By Editors | 01/12/2022
MetaComp, a unit of MetaVerse Green Exchange, is now able to offer regulated digital payment token services in Singapore.
Fintech / Regtech
Experian Appointed Bureau Operator for Singapore BNPL Industry
By Editors | 30/11/2022
Experian will facilitate creditworthiness checks for consumers using credit information submitted by all accredited BNPL players in Singapore.
Capital / Liquidity
MAS Plans to Adopt BCBS Risk Weights for Cryptoassets
By Manesh Samtani | 30/11/2022
MAS will require Singapore banks to apply a 1250% risk weight for exposures to Bitcoin and Ether, pending the finalisation of the BCBS framework.
AML / KYC
Singapore Police Launch Probe into Crypto Lender Hodlnaut
By Editors | 29/11/2022
The police said they received multiple reports between August and November 2022 alleging false representations by that Hodlnaut and/or its directors.
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