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Fintech / Regtech
DBS to Offer Retail Crypto Trading by Year End
By Mark Johnston | 15/02/2022
DBS plans to make access to its institutional trading desk for digital assets more convenient and to launch retail services by year-end.
AML / KYC
MAS Tables Bill to Obtain Enhanced Regulatory Powers
By Sanday Chongo Kabange | 15/02/2022
The Financial Services and Markets Bill will give MAS enhanced regulatory powers to address misconduct, crypto asset and technology risks.
AML / KYC
MAS Issues Guidance on Tech Adoption for Remote CDD
By Manesh Samtani | 14/02/2022
MAS identifies good industry practices used to guard against fraud, impersonation, and document tampering in a non-face-to-face setting.
ESG / Sustainability
MAS, IBF Develop Skills Framework for Sustainable Finance
By Editors | 10/02/2022
Technical skills and competencies have been set out for FIs to use to upskill finance professionals and build deeper talent pools for sustainable finance.
Enforcement
Singapore Man Charged Over False Statements in Telegram Chat
By Manesh Samtani | 09/02/2022
The false statements were used to induce investors to trade listed securities. SGX has previously warned about the use of Telegram chat groups in “pump and dump” schemes.
ESG / Sustainability
How Asset Managers Are Using New Sustainability Taxonomies
By Mark Uhrynuk | 07/02/2022
Mark Uhrynuk and Alexander Burdulia discuss taxonomies that have been developed, how asset managers are already applying them, and the associated challenges.
Enforcement
MAS Imposes Capital Surcharge on DBS for November Outage
By Editors | 07/02/2022
DBS has to hold SGD 930 million in additional regulatory capital until MAS is satisfied that it has addressed all shortcomings identified by an independent reviewer.
AML / KYC
Crypto Prepares for a Regulated Future
By David Liu | 07/02/2022
As crypto goes mainstream, regulatory compliance will require robust and financial institution-grade AML and KYC processes, says David Liu.
Fintech / Regtech
Singapore Gets New Methodologies to Assess Responsible AI Use
By Editors | 06/02/2022
A new open-source software toolkit has also been published to enable financial institutions to automate the fairness metrics assessment.
AML / KYC
MAS to Introduce Equitable Loss Sharing Framework for Scams
By Manesh Samtani | 04/02/2022
OCBC’s goodwill payouts to fully cover customer losses were a one-off gesture, and they “do not set a general precedent for future cases”, MAS said.
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