Singapore

Enforcement

MAS Bans Two Individuals for Fraud and Dishonest Conduct

By Editors | 19/08/2020

Prohibition orders were issued against former representatives of Prudential Assurance Company Singapore and Bank of Singapore in two unrelated cases.

AML / KYC

Risk and Reward: AI Enables Active Financial Crime Risk Assessment

By Daniel Banes | 18/08/2020

Adverse media is openly available, continually updated, and provides a wealth of information, but it remains underused in financial crime risk assessments, writes Daniel Banes.

AML / KYC

Singapore Crypto Association Publishes Industry Code of Practice

By Editors | 17/08/2020

The code is accompanied by a practice guide providing regulatory guidance to facilitate payment services licence applications in Singapore.

Enforcement

Singapore Police Lay First Charge Against Hin Leong Founder

By Editors | 16/08/2020

While investigations into other offences are ongoing, the charge of abetment of forgery for the purpose of cheating carries a punishment of up to ten years’ imprisonment and a fine.

Securities / Derivatives

Singapore Fund Managers Expect Covid to Accelerate ESG Investing

By Manesh Samtani | 13/08/2020

A new survey by IMAS found that two-thirds of Singapore fund managers expect the adoption of ESG investing to accelerate as a result of the Covid-19 pandemic.

Fintech / Regtech

Singapore Premiers Blockchain-based Bond Exchange, BBX

By Sanday Chongo Kabange | 13/08/2020

BondbloX Bond Exchange uses a permissioned blockchain to enable electronic trading of bonds in $1,000 denominations, with instant settlement and greater price transparency.

Fintech / Regtech

MAS Pledges SG$250m to Boost Financial Sector Innovation

By Editors | 13/08/2020

Maximum funding under the POC Grant and AIDA Grant will be increased. Support for large-scale innovation projects and staff training will also increase.

Market Infrastructure

MAS Official Warns of Financial Sector Job Losses in H2

By Editors | 13/08/2020

Supporting the local workforce in the financial sector during the crisis is a priority for MAS, according to deputy managing director Jacqueline Loh.

Securities / Derivatives

Singapore, Israel to Enhance Supervisory Cooperation for Dual Listings

By Editors | 12/08/2020

SGX and the Tel-Aviv Stock Exchange entered a partnership in May 2018 pledging to engage technology companies to list on both exchanges, but so far no companies are dual listed on both.