Singapore

AML / KYC

Singapore Re-Rated on Four FATF Recommendations

By Editors | 19/11/2019

Singapore is still rated ‘partially compliant’ on three FATF Recommendations for technical compliance, and will remain in enhanced follow-up.

Enforcement

Fostering Customer Trust in the Financial Industry: MAS

By Editors | 18/11/2019

Regulators and FIs alike have an important part to play to build trust in the financial industry, MAS deputy managing director Ong Chong Tee said in a speech on Saturday.

Enforcement

UBS Fined in Singapore for Pricing Deception by Advisers

By Editors | 18/11/2019

The MAS penalty follows similar action taken against UBS by the Hong Kong SFC to penalise the bank and demand compensation for clients that were overcharged over a ten-year period.

Capital / Liquidity

BCBS 239: The Rise of 2.5LoD at Singapore Banks

By Shierly Mondianti | 18/11/2019

PwC’s Shierly Mondianti and Irene Liu explore the advantages and disadvantages of the operating models for executing independent validation post-BCBS 239 compliance.

Market Infrastructure

Exploring APAC’s Emerging Data-Intensive Regulatory Environment

By Swati Kothari | 15/11/2019

APAC’s data intensive regulatory environment is making it increasingly important for banks to adopt a strategic data framework, say Swati Kothari and Jackielou Imperial at Wolters Kluwer.

Crypto / Digital Assets

HSBC, SGX, Temasek Jointly Explore DLT for Singapore Bond Markets

By Editors | 15/11/2019

The trial will make use of tokenised securities and smart contracts over a permissioned ledger to streamline bond issuance and servicing workflows.

AML / KYC

MAS to ‘Take Another Crack’ at KYC Utility Project

By Editors | 15/11/2019

The KYC Utility project was shelved last year after the setup costs were deemed to be too high. This time, the MAS will look at “less costly” technology architecture.

Fintech / Regtech

Singapore Unveils New AI Framework for Financial Institutions

By Garima Chitkara | 13/11/2019

The new ‘Veritas’ framework aims to improve internal governance among financial institutions around their solutions driven by artificial intelligence and data analytics.

Fintech / Regtech

BIS Launches Innovation Hub Centre in Singapore

By Editors | 13/11/2019

The launch of the BIS Innovation Hub Centre took place on the sidelines of the 2019 Singapore FinTech Festival x Singapore Week of Innovation and TeCHnology.