Singapore

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.

Capital / Liquidity

MAS Proposes Recovery & Resolution Planning Requirements for Insurers

By Editors | 03/10/2023

MAS plans to issue a new notice setting out requirements for insurers to prepare and test recovery plans, and enhance its resolution powers for the insurance sector.

Sanctions

Singapore Court Rules Against JPMorgan in Trade Sanctions Lawsuit

By Manesh Samtani | 02/10/2023

The Court of Appeal ruled that JPMorgan’s use of a sanctions clause to withhold payment on letters of credit was not contractually justified.

Singapore: New CMFAS Exams to Commence from 1 April 2024

By Editors | 30/09/2023

The commencement date was announced in MAS’ response to a 2020 consultation on competency requirements for financial advisers and CMS licence holders.

Crypto / Digital Assets

BIS Innovation Hub Concludes Project Mariana Trials

By Editors | 29/09/2023

The project explored the use of DeFi automated market makers for the cross-border exchange of CBDC in different currencies.

Fintech / Regtech

How Should Financial Institutions Govern AI Usage?

By Ranamita Chakraborty | 28/09/2023

Ying Yi Liew from Baker McKenzie Wong & Leow discusses AI governance considerations for financial institutions in Singapore at the recent TechLaw.Fest.

Fintech / Regtech

DBS, UOB Add Anti-Malware Feature to Banking Apps

By Editors | 28/09/2023

Last month, OCBC became the first Singapore bank to introduce the new security feature. Citi, DBS and UOB have now also added the feature.

ESG / Sustainability

MAS Proposes Approach to Financing Early Retirement of Coal Plants

By Editors | 27/09/2023

A new paper by MAS and McKinsey proposes the generation and sale of “transition credits” to reduce the economic gap from retiring a coal plant early.

Securities / Derivatives

Addressing Concern About SLBs With Enhanced Targets and Structure

By Joanne Teo | 26/09/2023

SGX RegCo’s Joanne Teo and Michael Tang discuss the use of sustainability-linked bonds to finance transition efforts and how to enhance the credibility of such instruments.