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Enforcement
Singapore Court Jails Russian National for Deceiving Banks
By Sanday Chongo Kabange | 09/09/2021
The banks were deceived regarding true beneficial ownership in their decision to open bank accounts between 2014 to 2017.
MAS Forms Sustainability Group, Appoints Chief Sustainability Officer
By Editors | 07/09/2021
The new group will coordinate MAS’ green finance and sustainability agenda to strengthen the financial sector’s resilience against environmental risks.
Securities / Derivatives
Lessons in Operational & Credit Risk Management for Exchange Members
By Boon Gin Tan | 07/09/2021
SGX RegCo’s Boon Gin Tan and Grace Mok discuss findings from a survey of exchange members. A new guide on credit risk management has also been released.
Market Infrastructure
Singapore Minister Urges FIs to Pursue International Postings
By Manesh Samtani | 07/09/2021
MAS will extend the funding duration from 3 to 6 months for the overseas component of its Finance Associate Management Scheme starting next year.
Market Infrastructure
Implementing the Final Phase of MAS’ OTC Derivatives Reporting Regime
By Priya Kundamal | 06/09/2021
Firms coming into scope on 1 October need to quickly complete onboarding and test their reporting to DTCC’s Singapore trade repository.
Fintech / Regtech
StanChart, NTUC Enterprise to Form Singapore Digital Bank
By Editors | 06/09/2021
A Standard Chartered subsidiary will hold 60 percent of the digital banking venture under a licence obtained from MAS in December.
Market Infrastructure
SGX Finalises Changes to Default Management Process
By Editors | 05/09/2021
The changes align CDP’s default management process with global practices, improve efficiency, and enable speedier resolution of any clearing member default.
Enforcement
MAS Orders Halt to Singapore Services From Binance.com
By Editors | 05/09/2021
Binance Asia Services, which operates Binance.sg, is a “distinct entity” and may still operate under an exemption while its licence application is under review.
ESG / Sustainability
Singapore Launches Asian Institute of Digital Finance
By Manesh Samtani | 05/09/2021
The research institute has led efforts to develop a federated learning platform for SME credit analytics that is expected to launch by year-end.
Enforcement
Singapore: 20 More Charges Laid in Nickel Trading Fraud Case
By Editors | 03/09/2021
Ng Yu Zhi has been charged with 20 new counts of cheating, bringing the total number of charges he faces to 51.
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