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Enforcement
Singapore Court Upholds Convictions of Russian, Singapore Nationals
By Editors | 08/04/2022
The two men served as resident directors for companies, declaring themselves rather than their Russian clients as the beneficial owners.
AML / KYC
Singapore Tightens Laws on Technology Risk, Crypto Assets
By Sanday Chongo Kabange | 06/04/2022
FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.
AML / KYC
Singapore Banks to Station More Staff at Anti-Scam Centre
By Editors | 05/04/2022
While banks have been supporting the police’s Anti-Scam Centre for the past three years, only DBS currently has staff physically located inside the centre.
ESG / Sustainability
Singapore Updates Stewardship Principles for Responsible Investors
By Editors | 03/04/2022
The updated Principles emphasise the need to integrate ESG considerations into investment decision-making and stewardship practices.
Fintech / Regtech
ISDA Publishes New Paper on Digital Regulatory Reporting
By Editors | 01/04/2022
DRR will allow for consistent rule interpretation, more streamlined and automated reporting, and fewer data quality issues, ISDA says.
Fintech / Regtech
BIS, MAS Launch Prototype Supervisory Analytics Platform
By Manesh Samtani | 31/03/2022
Project Ellipse can provide regulators with early warning indicators, analytics and prudential metrics to assist them in risk detection and banking supervision.
Capital / Liquidity
MAS Proposes Revisions to Bank Capital Disclosure Requirements
By Editors | 31/03/2022
The changes reflect the final Basel III reforms and will improve the consistency and comparability of disclosures across Singapore incorporated banks.
Fintech / Regtech
IOSCO Forms New Task Force Targeting DeFi Regulation
By Manesh Samtani | 26/03/2022
The task force, chaired by MAS assistant managing director Tuang Lee Lim, will help coordinate policy action to address the risks in DeFi.
Fintech / Regtech
Singapore Working Group to Develop BNPL Framework
By Editors | 24/03/2022
The Singapore FinTech Association has formed a working group under MAS guidance to develop a BNPL framework for launch later this year.
Singapore’s Insurers Gets New Culture and Conduct Guidance
By Ranamita Chakraborty | 23/03/2022
Two new papers have been published to help Singapore’s insurance industry in elevating their culture and conduct standards.
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