Singapore

Fintech / Regtech

SET, UOB Join SGX, Temasek as Investors in ADDX

By Editors | 25/05/2022

SET’s move to invest in ADDX reflects a trend towards a “new capital market landscape that emphasises continuity between the public and private markets”.

Market Infrastructure

Singapore, Switzerland to Promote Cross-border Data Connectivity

By Editors | 25/05/2022

MAS and SIF will work towards enabling data flows (including personal information) within financial groups, supported by free choice of location for data storage and processing.

AML / KYC

Singapore Police Warns of Banking-related Phishing Scams

By Editors | 24/05/2022

Phishing scams involving the impersonation of bank employees have increased from 149 cases in 2020 to 1,021 cases last year.

Fintech / Regtech

Singapore Court Issues Injunction Preventing Sale of NFT

By Editors | 23/05/2022

The injunction is said to be the world’s first court-ordered freeze on the potential sale and ownership transfer of an NFT.

Enforcement

MAS Charges Two Insurance Agents for Falsifying Documents

By Editors | 23/05/2022

Two insurance agents of Prudential Assurance Company Singapore provided false information to MAS in relation to an investigation it was pursuing.

Market Infrastructure

New Visa Rules Will Not Hinder Access to Foreign Talent: Menon

By Editors | 21/05/2022

MAS managing director Ravi Menon addressed concerns that a revised scoring system for employment pass applicants could impede hiring by Singapore FIs.

MAS Revises Notice on Unsecured Credit Facilities for Retail

By Editors | 19/05/2022

Banks should not increase credit limits if the total outstanding unsecured credit would exceed 6 times the borrower’s monthly income.

Market Infrastructure

Singapore Consults on Adjustment Spreads for Legacy SOR Contracts

By Manesh Samtani | 19/05/2022

Declining liquidity in the SOR-SORA basis swap market is causing difficulties in pricing adjustment spreads used to covert legacy SOR contracts to SORA-based contracts.

Securities / Derivatives

NSE Launches First SGX Connect Product at GIFT City

By Editors | 18/05/2022

NSE IFSC-SGX Connect is expected to go fully live in July 2022, with the onboarding of SGX members.