Singapore

Enforcement

MAS Bars Four Individuals for Fraudulent, Dishonest Conduct

By Editors | 14/10/2019

The former representatives from Great Eastern Life, Prudential and UOB abused the trust clients placed in them and enriched themselves at the expense of clients, MAS said.

Fintech / Regtech

Navigating Regulation for Singapore’s Banking 4.0

By Wissam Khoury | 11/10/2019

Singapore banking sector players are tasked with finding a balance between open innovation and regulatory compliance, says Finastra’s Wissam Khoury.

AML / KYC

Singapore Banker Faces 94 Charges for S$1.9m Fraud

By Editors | 08/10/2019

The former banker allegedly told his victims their funds would be placed as fixed deposits or in financial products, resulting in client losses over S$1.9mn.

Enforcement

Two Singaporeans Jailed for Spoofing Derivatives Market

By Editors | 08/10/2019

Two former directors of proprietary trading company Joerik Financial were jailed for fraud and dishonest conduct in relation to the trading of futures contracts.

Market Infrastructure

Singapore FIs Need Stronger Cyber Risk Culture: MAS CSAP

By Editors | 01/10/2019

CSAP members cite poor risk culture as a frequent contributing factor during cyber incidents, highlighting that clear expectations must be set at the board and senior management level.

Securities / Derivatives

SGX to Introduce Price Collars for Auction Mechanism

By Editors | 30/09/2019

The price limits will prevent order matching beyond a certain range of the last traded price for the securities market’s opening, mid-day and closing auction routines.

Market Infrastructure

Singapore Unveils New Framework for Upskilling Financial Sector

By Editors | 30/09/2019

The IBF, MAS, SkillsFuture and Workforce Singapore jointly developed the framework to help finance industry professionals upgrade their skills and remain relevant.

Fintech / Regtech

Regulatory Reporting: An Approach for Smaller Banks

By Irene Liu | 25/09/2019

Banks are starting to gain real business value from investments into better data governance and architecture, say Irene Liu, David Yakowitz and Catherine Lee at PwC.

Market Infrastructure

ISDA Issues Guidance on Executing Trades on Recognised Venues

By Editors | 23/09/2019

The guides describe how cross-border trading will work following the CFTC-MAS, CFTC-FSA and EC-MAS agreements on mutual recognition of derivatives trading venues.