Singapore

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    Securities / Derivatives

    MAS Publishes Findings from Inspections of VC Fund Managers

    By Manesh Samtani | 16/03/2023

    Some VCFMs did not make requisite disclosures to investors, have formalised policies and procedures in certain areas, and maintain a positive level of base capital.

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    Market Infrastructure

    Singapore Consults on Adjustment Spreads for Legacy SIBOR Contracts

    By Editors | 15/03/2023

    Steering Committee proposes to have a period of active transition until 30 April 2024, before banks initiate an industry-wide automatic conversion process around June 2024.

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    Crypto / Digital Assets

    Coinbase Partners With StanChart to Enable SGD Fund Transfers

    By Editors | 15/03/2023

    Customers in Singapore can transfer funds to and from their Coinbase account using any local bank in Singapore for free.

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    Fintech / Regtech

    Sea Group Launches Digital-only MariBank in Singapore

    By Editors | 15/03/2023

    Invitations are currently limited to users of Sea Group’s ecosystem such as Shopee customers and individual sellers.

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    Enforcement

    Singapore Police are Investigating Terraform Labs – Report

    By Editors | 06/03/2023

    Singapore police confirmed “ongoing” investigations into Terraform Labs, which is also being sued by the US SEC following its collapse last May.

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    Singapore Amends Thresholds for Gaining PR Status Under GIP

    By Editors | 06/03/2023

    Applicants will have to invest at least S$10mn in a business or S$25mn in a GIP-select fund, compared to $2.5mn currently.

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    AML / KYC

    MAS Calls for Stronger AML/CFT Controls in Wealth Management

    By Editors | 06/03/2023

    Circular sets out expectations for FIs to review their existing controls to ensure they remain adequate to mitigate ML/TF risks in wealth management.

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    ESG / Sustainability

    UK, Singapore Establish ‘Green Economy’ Cooperative Framework

    By Editors | 03/03/2023

    The UK and Singapore will cooperate in the areas set out under three pillars – one being carbon markets and sustainable finance.

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    Fintech / Regtech

    BondEvalue Approved to Operate Fractional Bond Exchange in GIFT City

    By Editors | 28/02/2023

    GIFT City members and their clients will be able to access institutional-grade USD bonds via BondbloX Exchange.

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    Enforcement

    MAS Seeks to Ramp Up Hiring for Enforcement Department

    By Editors | 24/02/2023

    MAS is also looking into creating a new ombudsman, a market conduct tribunal, a procedure for class-action lawsuits, and an investor compensation scheme.

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