Monetary Authority of Singapore

Securities / Derivatives

Best Execution Requirements Come into Force in Singapore

By Manesh Samtani | 08/03/2022

MAS finalised the best execution requirements in September 2020, giving firms an 18-month transitional period for compliance.

AML / KYC

Singapore Sanctions Four Russian Banks, Imposes Other Restrictions

By Manesh Samtani | 06/03/2022

FIs that have relationships with the four banks must freeze their assets. DPT service providers are prohibited from facilitating sanctions evasion with crypto and NFTs.

Securities / Derivatives

SFC’s New Rules on Bookbuilding & Placing Activities: What to Know

By Alan Linning | 02/03/2022

Alan Linning and Susanne Harris explain the new requirements and offer guidance on next steps for intermediaries to prepare for compliance by August.

AML / KYC

MAS Issues New AML/CFT Notices for Financial Institutions

By Manesh Samtani | 02/03/2022

The Notices cover activities involving precious stones and metals, services and transactions involving digital payment tokens, and risk assessments on shell companies.

Capital / Liquidity

MAS Introduces Liquidity Requirement for Recognised Market Operators

By Editors | 01/03/2022

Effective from 28 March, RMOs will have to hold at least 25 percent of their annual operating costs in cash and cash equivalents.

AML / KYC

Singapore, Korea, Switzerland Announce Sanctions Against Russia

By Manesh Samtani | 01/03/2022

Singapore will block certain Russian banks and financial transactions connected to Russia. Major Singapore banks are already restricting trade financing for Russian commodities.

Enforcement

MAS Bans Former OCBC Representative for Five Years

By Editors | 24/02/2022

The former representative was convicted of forgery in the State Courts last year, leading MAS to believe she would not perform financial advisory services honestly.

ESG / Sustainability

Singapore Govt, MAS to Extend Support for Businesses

By Editors | 21/02/2022

MAS is extending its SGD facility to support SME lending. Singapore will target net zero emissions by or around 2050, which was previously the target for halving emissions.

Securities / Derivatives

Singapore Has No Plans to Restrict Retail Investment in SPACs

By Darien Choong | 20/02/2022

Regulatory safeguards and educational efforts mounted by SGX should provide “adequate protection for retail investors and enable them to assess the risk-return trade-offs”.