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Market Infrastructure
Singapore Stimulus Plan to Catalyse Private Sector Loans
By Editors | 26/03/2020
MAS is working with banks and insurers to see how best to help businesses and individuals with loan obligations and insurance premium payments.
Securities / Derivatives
MAS, ACRA, SGX RegCo Set Out Expectations on Meeting Conduct
By Editors | 26/03/2020
MAS, SGX RegCo and ACRA expect all issuers to comply with the Ministry of Health’s mandatory safe distancing measures. Legislative amendments will be introduced.
Capital / Liquidity
HK, Singapore, Indonesia Assessed as NSFR, LEX Compliant
By Editors | 22/03/2020
Hong Kong, Singapore and Indonesia were assessed as compliant with global standards for the net stable funding ratio and large exposures framework.
AML / KYC
MAS Penalises Trust Company for AML/CFT Failings
By Editors | 20/03/2020
TMF Trustees Singapore was penalised SG$400,000 for failing to verify the source of wealth and monitor transactions on an ongoing basis.
Market Infrastructure
Singapore Steering Committee Publishes SORA Transition Roadmap
By Editors | 19/03/2020
Banks aim to start active trading in SORA derivatives in the second half of the year, and SORA-based loans will launch by year-end.
Enforcement
MAS Bans Six Individuals for Fraud and Dishonest Conduct
By Editors | 19/03/2020
The first five individuals abused their clients’ trust for their personal gain and the last evaded taxes. All six also received prison sentences.
Market Infrastructure
Fed Establishes FX Swap Lines with Nine Central Banks
By Editors | 19/03/2020
Temporary currency swap lines will be established with 9 central banks – including BOK, RBA, MAS and RBNZ – to lessen the strain on US dollar funding markets.
Securities / Derivatives
MAS Revises Code on Collective Investment Schemes
By Manesh Samtani | 16/03/2020
The changes extend the requirements imposed on approved trustees and managers to VCCs, VCC directors and VCC custodians, while also introducing a best interest duty.
Market Infrastructure
MAS 610/1003 Pilot Testing Gateway Set for April Launch
By Manesh Samtani | 02/03/2020
A six-month parallel reporting phase for the new MAS 610/1003 returns was meant to start from 1 April, but this was pushed forward by three months earlier in the year.
Fintech / Regtech
Is RegTech Coming of Age in Australia?
By Stephen Scott | 25/02/2020
Regtech is not fintech, says Stephen Scott at Starling. While fintech firms look to regulators for permission, what most regtech firms require from regulators is their collaboration.
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