Singapore

Capital / Liquidity

MAS Announces Decision to Increase Deposit Insurance Limit

By Sanday Chongo Kabange | 24/09/2023

MAS will increase the maximum deposit insurance coverage from the current S$75,000 to S$100,000, starting from 1 April 2024.

Market Infrastructure

OCBC Joins LCH SwapClear and HKEX’s OTC Clear

By Sanday Chongo Kabange | 24/09/2023

Direct clearing membership with LCH SwapClear and OTC Clear will help lower costs and enable better hedging tools for investors.

AML / KYC

Assets Involved in Singapore Money Laundering Case Reach S$2.4 Billion

By Editors | 22/09/2023

Singapore police say the assets involved in the case now involve S$2.4bn, which is more than twice the amount initially reported in August.

Capital / Liquidity

MAS Finalises Framework for Designating Systemically Important Insurers

By Editors | 22/09/2023

The inaugural list of D-SIIs includes AIA Singapore; Income Insurance; Prudential Assurance; and Great Eastern Life.

Securities / Derivatives

SGX RegCo Proposes Changes to Derivatives Trading Rules

By Manesh Samtani | 21/09/2023

The amendments update the requirements pertaining to customer margining and introduce rules to govern the use of algorithmic trading.

Capital / Liquidity

MAS Finalises Notice for Implement Basel III Reforms

By Editors | 21/09/2023

The revised MAS Notice 637 will be effective from 1 July 2024. An additional year is provided for compliance with revised market risk and CVA standards.

Enforcement

Singapore: Former CEO, Three Others Charged for False Trading Offences

By Mark Johnston | 20/09/2023

Goh Jin Hian, the son of former PM Goh Chok Tong, allegedly conspired with three others to create a misleading appearance of the price of New Silkroutes securities.

Enforcement

MAS Publishes Latest 18-Month Report on Enforcements

By Editors | 20/09/2023

For 2023 and 2024, MAS will prioritise enforcement in the digital asset ecosystem as well as regulatory compliance by asset and wealth managers.

Cayman Islands to Open First Asia Office in Singapore

By Editors | 19/09/2023

The Cayman Islands government said the new office will help it pursue business opportunities in Asia and build strategic relationships including in Hong Kong.