Singapore

Singapore Raises ABSD Stamp Duties to Cool Property Market

By Editors | 28/04/2023

Foreigners buying any residential property in Singapore will see the Additional Buyer’s Stamp Duty double.

Securities / Derivatives

Boards Should Take Requisitions Seriously: SGX RegCo

By Editors | 27/04/2023

While requisitions may be unwelcome, boards should consider their merits and engage with the requisitionists to find common ground.

Enforcement

British American Tobacco to Pay $629m in DPRK Sanctions Case

By Mark Johnston | 27/04/2023

OFAC’s $508mn penalty, its largest ever against a non-financial institution, settles charges related to the export of tobacco products to North Korea.

Enforcement

Singapore Trader Sentenced to Jail, Fine for SFA Breach

By Editors | 27/04/2023

The trader would sell the securities to his relatives before buying them back at higher prices using his employer’s accounts.

Securities / Derivatives

Singapore Retail Investors Underrepresented in Bond Restructuring

By Manesh Samtani | 26/04/2023

The Law Reform Committee of the Singapore Academy of Law proposes reforms to improve Singapore’s framework for bond restructuring.

MAS Proposes Stronger Safeguards for Prospecting, Marketing

By Editors | 25/04/2023

FIs that regularly conduct marketing and distribution activities would have to identify senior managers to exert oversight over these activities.

MAS Launches Polytechnic Talent for Finance Scheme

By Editors | 25/04/2023

FIs can tap the scheme to defray the cost of offering internships, apprenticeships and academic sponsorships to polytechnic graduates and students.

Enforcement

19 Year Old Pleads Guilty for Involvement in OCBC Phishing Scams

By Editors | 24/04/2023

The youth is the sixth individual to be convicted among those accused of being involved in phishing scams.

ESG / Sustainability

Singapore, China Deepen Collaboration on Green Finance

By Editors | 24/04/2023

MAS-PBOC green finance taskforce will work on taxonomy interoperability, the sustainability bond market, and digital green bonds.