Singapore

Capital / Liquidity

MAS to Defer Implementation of Final Basel III Reforms

By Editors | 20/12/2022

MAS said it will defer the implementation of the final Basel III reforms in Singapore, to between 1 January 2024 and 1 January 2025.

Securities / Derivatives

Singapore to Amend Law to Allow for Online General Meetings

By Editors | 19/12/2022

Orders introduced early in the pandemic to allow companies to conduct general meetings by electronic means will expire on 1 July 2023.

Fintech / Regtech

Singapore, EU to Expand Partnership to ‘Digital Realm’

By Editors | 18/12/2022

The partnership includes efforts to advance new and emerging areas such as 5G/6G, artificial intelligence, and digital identities.

AML / KYC

Singapore Releases Blueprint to Combat Ransomware Attacks

By Mark Johnston | 17/12/2022

The blueprint includes recommendations to discourage ransomware payments and make it mandatory for organisations to report such payments.

MAS Proposes to Revise Fair Dealing Guidelines

By Editors | 15/12/2022

MAS proposes to widen the Guidelines to explicitly include all FIs and the corresponding products and services that they offer to their customers.

Enforcement

Singapore Jails Man for Exporting Beverages to North Korea

By Editors | 14/12/2022

The man, while working as a manager for Pokka International, sold beverages he knew would later be exported to North Korea for commercial trade.

Enforcement

Singapore: Ex-Agritrade CFO Pleads Guilty to Deceiving Banks

By Editors | 12/12/2022

The former CFO used false financial statements to obtain loans for Agritrade International and its suppliers, causing over $469mn in losses for up to 12 banks.

Securities / Derivatives

Industry Ranks Singapore Top APAC Market to Operate In

By Editors | 11/12/2022

In an ASIFMA survey, capital market participants ranked Singapore as the top market for its political environment and predictable and transparent regulatory policy.

Enforcement

MAS Bans Former UOB, OCBC Representative for 15 Years

By Editors | 08/12/2022

The former representative deceived seven customers into transferring S$2mn to his personal bank accounts by promoting fictitious fixed deposits and other investment products.