Monetary Authority of Singapore

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    Crypto / Digital Assets

    Crypto Exchange Luno to Close Singapore Operations in June

    By Sanday Chongo Kabange | 21/04/2023

    Luno, which received in-principle approval from MAS last year, has decided to stop serving users in Singapore.

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    Ravi Menon Reported to be Leaving MAS This Year

    By Editors | 20/04/2023

    Ravi Menon is MAS’ longest-serving managing director. Former deputy managing director Chia Der Jiun is tipped to be Menon’s successor.

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    Securities / Derivatives

    MAS: “Much Room for Improvement” in Issue Manager Conduct

    By Editors | 18/04/2023

    MAS identified issue managers that did not perform conflict-of-interest checks, background checks on EDs and controlling shareholders, and site visits to issuers’ material assets.

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    MAS Maintains Monetary Policy Stance, Warns of Slow Growth

    By Editors | 14/04/2023

    MAS said its five successive monetary policy tightening moves since October 2021 have “tempered the momentum of price increases”.

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    AML / KYC

    UPDATED – Singapore Bankers Asked to Avoid Discussing Inflows from China

    By Editors | 14/04/2023

    Regulators asked private bankers to avoid attributing large fund inflows to Chinese wealth as this is seen as a politically sensitive issue.

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    Crypto / Digital Assets

    Singapore to Set Crypto Client Onboarding Standards for Banks

    By Editors | 10/04/2023

    The “industry-driven project” has been ongoing for about six months, with participation from MAS and Police in a banks-led working group.

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    Fintech / Regtech

    APAC Regulators Form New Forum to Address Cloud Risk

    By Sanday Chongo Kabange | 06/04/2023

    MAS assistant managing director Vincent Loy said the twice-a-year forum will help APAC regulators and CSPs ensure greater resilience of cloud adoption in the financial sector.

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    Market Infrastructure

    Singapore, Malaysia Launch Cross-border QR Payments Link

    By Editors | 31/03/2023

    The payment linkage will allow customers of participating financial institutions to make retail payments by scanning NETS QR and DuitNow QR codes.

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    Fintech / Regtech

    MAS Says Latest Outage at DBS is “Unacceptable”

    By Editors | 30/03/2023

    Singapore customers of DBS were unable to access online banking services or make trades via its brokerage for around ten hours on Wednesday.

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    Capital / Liquidity

    Industry Welcomes Regulator Commitments to Prioritise Bondholders

    By Manesh Samtani | 24/03/2023

    Regulators respond to Swiss decision to wipe out Credit Suisse bondholders by pledging to respect the bank rescue hierarchy in a crisis.

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