Singapore

Enforcement

MAS Bars Former DBS Wealth Planner for Cheating Clients

By Editors | 20/03/2022

The former DBS Bank wealth planning manager fraudulently deceived clients into transferring SGD 490,000 into his personal bank account.

ESG / Sustainability

MAS, CDP Partner to Enhance Access to Quality ESG Data

By Editors | 20/03/2022

MAS and CDP will collaborate to explore the exchange of information between CDP’s disclosure system and MAS’ Project Greenprint.

Market Infrastructure

SGX Selects Tata Consultancy Services to Power GIFT Connect

By Editors | 17/03/2022

The GIFT Connect system will permit SGX members to place orders on NSE IFSC using FIX/proprietary APIs or the TCS BaNCS dealing terminal.

ESG / Sustainability

SGX RegCo Announces Sustainability Training Courses for Directors

By Editors | 17/03/2022

Board directors of SGX listed equity issuers are required to undergo mandatory sustainability training and provide confirmation in sustainability reports.

AML / KYC

MAS Issues Guidance on Russia Sanctions Compliance

By Manesh Samtani | 17/03/2022

Crypto exchange operators have all been instructed to provide details of their Russia-linked clients to the regulator.

Fintech / Regtech

DTC, Hodlnaut Get In-Principle Approval for DPT Services in SG

By Editors | 17/03/2022

Digital Treasures Center enables merchants to accept crypto in payments. Hodlnaut offers cryptocurrency borrowing and lending services.

Fintech / Regtech

MAS Guidance on Stablecoins Set to Impact Crypto Firms

By Manesh Samtani | 15/03/2022

Stablecoins must be treated as DPTs rather than e-money. A new notice specifies a risk warning that must be provided to all customers of DPT services.

Securities / Derivatives

MAS Issues New Compliance Toolkits for Fund Managers, CMS Licensees

By Editors | 15/03/2022

The compliance toolkits will provide regulated entities with a simple reference on the common applications, forms and submission requirements.

Singapore to Introduce Points-based Visa System for Foreigners

By Sanday Chongo Kabange | 15/03/2022

Singapore is seeking to attract higher-calibre foreign workers with “super skill sets” under a new points-based visa system.