Singapore

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”.

Fintech / Regtech

Singapore Continues Work to Bolster Digital Banking Security

By Darien Choong | 18/02/2022

New measures include expanding the use of biometric technology, strengthening fraud surveillance and detection algorithms, and enabling customers to trigger account freezes.

Fintech / Regtech

NFTs Are Not Suitable for Retail Investors, MAS Chairman Warns

By Manesh Samtani | 17/02/2022

MAS chairman Tharman Shanmugaratnam said NFTs could be regulated only if they are used to represent capital markets products.

Fintech / Regtech

DBS to Offer Retail Crypto Trading by Year End

By Mark Johnston | 15/02/2022

DBS plans to make access to its institutional trading desk for digital assets more convenient and to launch retail services by year-end.

AML / KYC

MAS Tables Bill to Obtain Enhanced Regulatory Powers

By Sanday Chongo Kabange | 15/02/2022

The Financial Services and Markets Bill will give MAS enhanced regulatory powers to address misconduct, crypto asset and technology risks.

AML / KYC

MAS Issues Guidance on Tech Adoption for Remote CDD

By Manesh Samtani | 14/02/2022

MAS identifies good industry practices used to guard against fraud, impersonation, and document tampering in a non-face-to-face setting.

ESG / Sustainability

MAS, IBF Develop Skills Framework for Sustainable Finance

By Editors | 10/02/2022

Technical skills and competencies have been set out for FIs to use to upskill finance professionals and build deeper talent pools for sustainable finance.