Singapore

Securities / Derivatives

HK to Consult on SPAC Listing Framework in June – Report

By Editors | 29/03/2021

The rules are expected to include conditions for sponsors or SPACs. Acquisition targets will have to meet the existing standards for IPOs.

ESG / Sustainability

Central Banks Should Embrace Innovation: Jacqueline Loh

By Editors | 29/03/2021

MAS’ Jacqueline Loh outlined several central bank-led innovation initiatives underway, including a project that will help quantify the ESG impact of investments and loan portfolios.

Securities / Derivatives

US Securities Regulator Opens Inquiry into SPAC Listings

By Sanday Chongo Kabange | 29/03/2021

The SEC has reportedly written to banks seeking information on how underwriters are managing the risks involved.

AML / KYC

MAS Offers New AML/CFT Guidance for VASPs

By Editors | 28/03/2021

MAS has identified several VASPs that have not come forward for licensing despite operating in Singapore or soliciting business from Singapore residents.

Capital / Liquidity

MAS Consults on Credit Risk Capital Requirements, Output Floor

By Editors | 28/03/2021

MAS is seeking feedback on draft standards relating to credit risk capital and output floor requirements which will start to take effect from 1 January 2023.

MAS, ABS Publish Guidance on Workplace Design Strategies

By Editors | 24/03/2021

Strategies and good practices presented in a newly published study are aimed at supporting FIs in building pandemic-resilient workplaces.

Fintech / Regtech

SFA, Remittance Association to Jointly Strengthen SG Remittance Industry

By Editors | 22/03/2021

The SFA Remittance Sub-Committee has been launched to promote the adoption of technologies to strengthen Singapore’s money remittance industry.

AML / KYC

Singapore Police Issue First Charges in Nickel Trading Fraud Case

By Editors | 22/03/2021

At least SGD 1 billion was invested for the purported sale and purchase of nickel, making the case one of the largest financial fraud cases in Singapore.

Enforcement

New York Court Reinstates SIBOR Manipulation Lawsuit

By Editors | 19/03/2021

The case is being reinstated to allow Fund Liquidation Holdings LLC to pursue claims against 18 banks on behalf of two defunct funds that initially launched the lawsuit.