Singapore

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    AML / KYC

    MAS Sheds Light on Use of AI in Supervisory Activities

    By Sanday Chongo Kabange | 04/10/2023

    MAS is using AI tools to identify market collusion, manipulation, mis-selling by financial advisers, and networks of suspicious activity in Singapore’s financial system.

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    Big Picture

    Generative AI’s Growing Impact on Capital Markets

    By Ranamita Chakraborty | 04/10/2023

    Panellists at the ASIFMA Tech & Ops Conference discussed the key applications of generative AI in capital markets and strategies for addressing risks.

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    Fintech / Regtech

    Singapore’s AI-Adoption Rate Highest Globally – FIS report

    By Jill Wong | 04/10/2023

    The FIS survey of over 2,000 business leaders worldwide found 92% of firms expect to adopt AI in the next 12 months.

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    Crypto / Digital Assets

    MAS Grants Major Payments Institution Licence to Ripple

    By Editors | 04/10/2023

    Ripple received its in-principle approval from MAS just four months ago in June 2023. Singapore is the company’s Asia Pacific headquarters.

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    AML / KYC

    Singapore Unveils Planned Measures to Strengthen AML Regime

    By Manesh Samtani | 04/10/2023

    The government will set up an inter-ministerial committee to review the AML regime and consider tightening rules for luxury goods, family offices and immigration.

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    Fintech / Regtech

    Operational Resilience, Skills Key to Banks’ Technological Sophistication – MAS

    By Jill Wong | 03/10/2023

    The MAS’s Vincent Loy highlights the operational challenges facing banks as they seek to build technology skills and sophistication.

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    Enforcement

    Three Arrows Capital Co-Founder Jailed in Singapore

    By Mark Johnston | 03/10/2023

    The co-founder was jailed for not cooperating with the liquidator’s effort to recover funds to return to the creditors of the collapsed hedge fund.

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    Securities / Derivatives

    SGX Launches First Ammonia Derivatives Contracts

    By Editors | 03/10/2023

    SGX launched its first ammonia swap and futures contracts covering FOB Middle East and CFR East Asia pricing points.

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    Fintech / Regtech

    MAS Querying DBS Regarding Disruption of Payment Services

    By Mark Johnston | 03/10/2023

    MAS is following up with DBS to identify the root cause of a disruption to the bank’s FAST and PayNow services last week.

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    Crypto / Digital Assets

    Coinbase, Sygnum, GSR Win New Approvals in Singapore

    By Manesh Samtani | 03/10/2023

    Coinbase and Sygnum Singapore obtained full Major Payment Institution licences. GSR Markets Pte Ltd received in-principle approval.

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