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Fintech / Regtech
KPMG Launches Embedded Finance Hub in Singapore
By Editors | 06/09/2022
KPMG said the Hub will work with MAS and the broader ecosystem to accelerate the adoption of embedded finance in Singapore.
Enforcement
Singapore Jails Five Former Remisiers for False Trading
By Editors | 06/09/2022
The five were former remisiers for Phillip Securities, OCBC Securities, DBS Vickers Securities, and Maybank Kim Eng Securities.
AML / KYC
MAS Fines UOBKH for Business Conduct, AML Failures
By Editors | 31/08/2022
UOBKH failed to implement adequate controls for its corporate finance business and to ensure it was subject to internal audit.
Market Infrastructure
Singapore Industry Group Launches New Funds Settlement Utility
By Editors | 31/08/2022
The utility will reduce manual steps, centralise processing, and facilitate reconciliation, thereby reducing settlement time and improving efficiency.
Fintech / Regtech
Grab-Singtel Digital Bank Set to Launch First Financial Product
By Editors | 31/08/2022
GXS Bank will launch a savings account product on 5 September, and expand into wealth and credit products over the coming months.
Crypto / Digital Assets
MAS to Strengthen Retail Protections from Crypto Harms
By Manesh Samtani | 30/08/2022
MAS managing director Ravi Menon described an approach to digital assets that allows Singapore to be both stringent in its regulation and facilitative of innovation.
Fintech / Regtech
Indonesia, Singapore Commence Work on QR Payment Link
By Manesh Samtani | 29/08/2022
Bank Indonesia also launched the “international QRIS”, initially connecting to Thailand’s payment system, and have a retail CBDC in the works.
Crypto / Digital Assets
MAS Seeking Granular Business Activity Info From Crypto Firms
By Editors | 29/08/2022
The exercise is reportedly aimed at gathering information from crypto-related firms in Singapore ahead of planned regulatory changes for the sector.
AML / KYC
MAS Issues AML Guidance for External Asset Managers
By Manesh Samtani | 25/08/2022
The guidance covers governance, risk assessment frameworks, customer due diligence, enhanced CDD, and suspicious transaction reporting.
Enforcement
MAS Fines Noble Group Over Misleading Financial Statements
By Editors | 25/08/2022
The S$12.6mn fine is understood to be the largest fine for the publication of misleading financial statements in Singapore’s history.
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