Singapore

Crypto / Digital Assets

Singapore Proposes GST Exemption for Digital Token Payments

By Editors | 09/07/2019

Transactions involving digital tokens or cryptocurrencies that function or are intended to function as a medium of exchange will be exempt from GST.

Enforcement

Former Barclays Singapore Director Gets 13-Year Jail Term

By Editors | 05/07/2019

The former private banker forged signatures and documents to siphon off $10mn from client bank accounts between 2010 and 2013.

Fintech / Regtech

Singapore Digital Banks to Disrupt Smaller Incumbents the Most

By Editors | 04/07/2019

Singapore’s big banks will be able to defend against new digital entrants, while small foreign-owned incumbents will face the greatest disruption risk, says Moody’s Investors Service.

Securities / Derivatives

MAS Proposes to Relax Requirements for Singapore REITs

By Editors | 03/07/2019

The consultation paper proposes to allow REITs to take on more leverage if they can demonstrate an ability to service their debt with regular income.

Fintech / Regtech

BIS ‘Innovation Hub’ to Set Up in Hong Kong, Singapore

By Editors | 02/07/2019

The BIS Innovation Hub will foster collaboration between central banks and, by extension, help the private sector fully realise ‘new economy’ opportunities.

Market Infrastructure

Singapore Commences Transition Testing for Enhanced SIBOR

By Editors | 01/07/2019

Transition testing will be conducted initially for six months to determine if a transition to the proposed waterfall methodology is possible or if further refinements are needed.

Market Infrastructure

MAS Clarifies Regulatory Expectations on IAC Guidelines

By Grace Chong | 01/07/2019

Grace Chong at Simmons & Simmons JWS recapitulates the key points from MAS’ feedback to the first consultation on the IAC Guidelines, and charts the course ahead.

Fintech / Regtech

MAS to Issue Up to Five Digital Bank Licences

By Editors | 01/07/2019

The initiative effectively extends digital bank licences to non-bank players, as existing banking groups in Singapore already have a framework for setting up digital bank subsidiaries.

Securities / Derivatives

SGX Enables Portfolio Compression for Listed Derivatives

By Editors | 28/06/2019

SGX, in collaboration with a unit of BGC Partners, has become the first exchange in Asia to launch a portfolio compression service for listed derivatives.