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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.
Enforcement
MAS Penalises Former UOBKH Representative for False Trading
By Editors | 19/08/2022
The former UOB Kay Hian trading representative committed false and unauthorised trading for a client who was himself sentenced in March 2021.
Crypto / Digital Assets
Crypto Firm Hodlnaut Applies for Judicial Management in Singapore
By Editors | 18/08/2022
The alternative of forced liquidation would be a “suboptimal solution” that would require Hodlnaut to sell users’ cryptocurrencies at “depressed asset prices”.
Securities / Derivatives
Investment Funds Increasingly Setting Up as Singapore VCCs
By Editors | 17/08/2022
Singapore has reportedly been welcoming more than a dozen investment funds every month under the VCC regime.
Crypto / Digital Assets
MAS Rescinds IPA Granted to Crypto Lender Hodlnaut
By Editors | 11/08/2022
Hodlnaut froze withdrawals, token swaps and deposits on its platform on Monday to focus on stabilising its liquidity and preserving assets.
Capital / Liquidity
MAS Revises Notice to Implement IRRBB Disclosure Requirements
By Editors | 09/08/2022
The revised Notice 637 will take effect from 1 January 2023, implementing the revised Pillar 3 disclosure requirements for IRRBB.
Fintech / Regtech
MAS Sets Out Expectations on Third Party Risk Management
By Editors | 08/08/2022
MAS conducted thematic inspections on the operational risk management standards and practices of selected banks, with a focus on third party risk management.
Crypto / Digital Assets
Laying the Groundwork for Digital Assets to Take Flight in Korea
By Susan Friedman | 04/08/2022
South Korea has an opportunity to bolster innovation in digital assets as it develops new regulations for the sector, say Ripple’s Susan Friedman and Rahul Advani.
ESG / Sustainability
Data with Destiny: Bridging Asia’s ESG Information Gap
By Editors | 02/08/2022
While there has been a surge of data disclosure in Asia, the lack of a unified set of rules across the region opens the door for inconsistencies.
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