Singapore

AML / KYC

Trade-based Money Laundering: Avoiding Murky Waters

By Jamil Ahmed | 31/08/2020

HSBC Singapore’s Jamil Ahmed calls for continued vigilance, the use of technology, and participation in public-private partnerships to mitigate trade-based money laundering risks.

Singapore Raises Salary Requirement for Financial Sector Work Visa

By Manesh Samtani | 27/08/2020

MAS officials have recently said protecting Singaporean jobs was a “top priority” and that financial sector employers must “commit to growing the local talent pool”.

Capital / Liquidity

SGX to Offer Free Analytics to Facilitate UMR Preparation

By Manesh Samtani | 26/08/2020

Through a partnership with Cassini Systems, SGX will provide market participants the analysis needed to understand how they can reduce the UMR cost burden.

Enforcement

Singapore CEO Fined Over ‘Interested Person’ Transactions

By Editors | 26/08/2020

Under the Securities and Futures Act, mainboard companies must immediately announce interested person transactions worth over 3% of tangible assets.

Enforcement

SFC Imposes Lifetime Ban on Former China Citic Bank Employee

By Editors | 26/08/2020

The former relationship manager is said to have falsely represented to customers that an additional fee was needed to open an account with CITIC – which he then pocketed.

Securities / Derivatives

Singapore Authorities Charge Five Remisiers for False Trading

By Editors | 20/08/2020

The five individuals charged were former remisiers for Phillip Securities, OCBC Securities, DBS Vickers Securities, and Maybank Kim Eng Securities.

Securities / Derivatives

HKEX Adds Two More Taiwan Futures Contracts to MSCI Suite

By Manesh Samtani | 20/08/2020

HKEX is seeking CFTC certification for the new contracts. The move intensifies competition with SGX, which already has a CFTC-certified futures contract for Taiwan.

Market Infrastructure

The Case for a Central Lending Platform in Singapore

By Irene Liu | 20/08/2020

Not enough SMEs are taking advantage of government supported loan programmes, in part due to the onerous processes involved in accessing them, say PwC’s Irene Liu and Shierly Mondianti.

ESG / Sustainability

SGX Partners with FTSE Russell to Expand Derivatives Product Line

By Manesh Samtani | 20/08/2020

The product expansion will cater to demand from institutional investors for solutions in multi-asset, ESG, dividend, sector and duration strategies.