Monetary Authority of Singapore

AML / KYC

MAS Bans Former BSI Banker Over 1MDB ‘Secret Profits’

By Editors | 23/10/2020

The former banker received about $5mn in fund management fees in an entity he beneficially owned, at the expense of and without the knowledge of BSI Bank.

Market Infrastructure

MAS, IBF Take Steps to Prevent Financial Sector Job Losses

By Editors | 20/10/2020

IBF will run surveys every six months to obtain data about job losses at FIs to offer their staff reskilling support and possible redeployments in the industry.

Market Infrastructure

MAS Consults on New Rules for Licensed Credit Bureaus

By Sanday Chongo Kabange | 19/10/2020

Credit bureaus will be subject to similar technology risk management requirements and cyber security measures as required of other financial institutions in Singapore.

ESG / Sustainability

MAS Outlines Next Steps in Green Finance Action Plan

By Shruti Khairnar | 19/10/2020

As part of a vision to make Singapore the leading centre for green finance in Asia, MAS will incorporate climate-related scenarios in its annual stress tests “within the next two years”.

AML / KYC

SoW/SoF Checks: What Does Good Look Like?

By Editors | 18/10/2020

Regulation Asia spoke to financial crime compliance experts about the ongoing effort required to achieve and maintain high standards for source of wealth and source of funds checks.

AML / KYC

MAS’ Use of Tech to Enhance Regulatory, Supervisory Functions

By Manesh Samtani | 17/10/2020

A recent FSB report offered case studies of how regtech and suptech are being deployed by regulators, including several examples from MAS.

Securities / Derivatives

MAS Grants BondEvalue Recognised Market Operator Licence

By Editors | 16/10/2020

BondEvalue operates BondbloX Bond Exchange, a blockchain-based exchange that allows for bonds to be traded in USD 1,000 lots.

ESG / Sustainability

MAS Announces Launch of Singapore Green Finance Centre

By Editors | 14/10/2020

The SGFC is Singapore’s first research institute dedicated to green finance research and talent development and is support by MAS and nine partner financial institutions.

Fintech / Regtech

Wirecard Service Halt Disrupts Singapore Merchants – Report

By Editors | 13/10/2020

Singapore merchants were caught off guard when Wirecard services stopped functioning this month. Many have been accepting payments via bank transfer, cash or digital platforms.