Singapore

Enforcement

MAS Bans Former Insurance Broker for Dishonest Conduct

By Editors | 25/02/2021

The former insurance broker was banned for unauthorised selling of general insurance when he was only licensed to sell life policies.

AML / KYC

Singapore Police Set to Charge Suspect in Covid-19 Scam

By Editors | 24/02/2021

Last March, the suspect used the identity of a legitimate company to advertise and sell surgical masks and hand sanitisers that were never delivered.

Market Infrastructure

LCH Extends Central Clearing for SORA Derivatives to 21 Years

By Manesh Samtani | 22/02/2021

MAS will likewise extend the tenor of its daily SORA derivatives auctions with major derivatives dealers from 5-years to 20-years.

ESG / Sustainability

SGX to Seek Out Acquisition Targets to Drive Growth

By Ranamita Chakraborty | 22/02/2021

SGX plans to continue its M&A focus to strengthen its FX, fixed income, data and capital markets connectivity businesses, says chief executive Loh Boon Chye.

Capital / Liquidity

MAS Proposes Revisions to Requirements for Insurers

By Manesh Samtani | 22/02/2021

MAS proposes to enhance the current requirements relating to enterprise risk management, investment risk management and disclosure practices.

Enforcement

Singapore Police Investigate Nickel Trading Investment Fraud

By Editors | 21/02/2021

Envy Asset Management and Envy Global Trading are suspected of using investors’ funds to finance nickel trading activities. Both have had their bank accounts frozen.

Securities / Derivatives

HK, Singapore on Alert for Social Media Fuelled Manipulation

By Manesh Samtani | 19/02/2021

The SFC has issued restriction notices against 54 more trading accounts. Singapore regulators are guarding against “pump and dump” and “short and distort” scenarios.

Market Infrastructure

Euroclear to Enable Direct Access to SGX Bonds for Global Investors

By Manesh Samtani | 18/02/2021

The new ‘Orchid’ bond structure will allow global investors to benefit from real-time, multi-currency DVP settlement with any counterparty within Euroclear’s network.

Securities / Derivatives

SGX May Introduce SPACs This Year, Subject to Market Support

By Editors | 18/02/2021

SGX chief Loh Boon Chye says SPACs could facilitate access to capital while minimising market risk exposure by providing another avenue for investment.