Singapore

Market Infrastructure

MAS to Migrate MEPS+ to ISO 20022 in June 2022

By Manesh Samtani | 21/06/2021

MAS is adopting a two-phased approach to migrate to ISO 20022, beginning with payments on MEPS+ in June 2022.

Fintech / Regtech

AFIN, R3 Partner to Launch CBDC Sandbox on APIX Platform

By Editors | 16/06/2021

MAS’ Sopnendu Mohanty says the collaboration will enable the global fintech ecosystem to better understand financial innovations around digital currencies.

Market Infrastructure

Banking on API Management to Succeed in the Digital World

By David Chan | 16/06/2021

AdNovum’s David Chan discusses the need to safeguard APIs as financial institutions increasingly seek to digitalise their services.

Enforcement

Hin Leong Files Suit Against Deloitte Over Auditing Failures

By Ranamita Chakraborty | 16/06/2021

The lawsuit claims Deloitte would have detected material misstatements and not issued unqualified opinions if its audits were carried out properly.

Market Infrastructure

OCBC Obtains Approval to Convert LIBOR Bonds to SONIA

By Ranamita Chakraborty | 16/06/2021

OCBC has become the first Singapore bank to obtain approval from bondholders to replace GBP LIBOR with SONIA as the interest rate benchmark.

Enforcement

MAS Reprimands Four FIs Over Remuneration Practices

By Sanday Chongo Kabange | 15/06/2021

Two insurers, two financial advisory firms, and two individuals were reprimanded over breaches related to their risk management arrangements and remuneration  practices.

ESG / Sustainability

SGX, Nasdaq Partner to Enhance ESG Visibility of APAC Issuers

By Editors | 15/06/2021

The addition of SGX data to Nasdaq’s sustainable bond network will enhance transparency of green, social and sustainability bonds in Asia Pacific.

ESG / Sustainability

SGX Leverages Nikkei Partnership to Launch ESG REIT Derivatives

By Editors | 14/06/2021

The new futures contract aims to meet rising demand for integrating ESG considerations into investment portfolios, SGX said.

AML / KYC

UOB Pilots Digital Signing Capability via SingPass

By Editors | 14/06/2021

UOB is testing the use of GovTech’s ‘Sign with Singpass’ to allow a set of retail and corporate customers to confirm transactions and product applications.