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Fintech / Regtech
MAS, Temasek, JPM Complete Final Phase of Project Ubin
By Editors | 13/07/2020
The prototype that was built can integrate with other blockchain-based platforms and be used for cheaper, faster and safer cross-border payments and to settle foreign exchange transactions.
AML / KYC
Singapore Authorities Probe Two Companies with Wirecard Links
By Editors | 04/07/2020
Citadelle Corporate Services is said to have handled Wirecard monies without a trust business licence. Senjo Group is said to have falsified accounts.
Securities / Derivatives
Singapore Banks Join Forces to Reduce Commodity Lending Risk
By Editors | 02/07/2020
Some 20 banks in Singapore have set up a working group to propose new guidelines to improve lending practices and transparency for the commodity sector.
Securities / Derivatives
Wave of Fund Managers Looking to Set Up Singapore VCCs
By Editors | 01/07/2020
Up to 70 VCCs have already been launched in Singapore, many by small and boutique funds or local family offices. But a much larger wave of companies is on its way.
AML / KYC
UPDATED – Wirecard Fraud: A Timeline of Events
By Editors | 30/06/2020
Wirecard has filed for insolvency amid multiple probes. BaFin faces scrutiny for mishandling clear red flags. EY faces lawsuits for failing to catch the improprieties earlier.
ESG / Sustainability
A Detailed Look at MAS’ Environmental Risk Management Guidelines
By Grace Chong | 29/06/2020
Grace Chong at global law firm Simmons & Simmons JWS analyses the key points of MAS’ proposed Guidelines on Environmental Risk Management, and sets out the key practical steps to be taken.
ESG / Sustainability
MAS Consults on Environmental Risk Management Guidelines for FIs
By Manesh Samtani | 25/06/2020
The guidelines set out MAS’ supervisory expectations for banks, insurers and asset managers in their governance, risk management, and disclosure of environmental risk.
Fintech / Regtech
MAS Seeks Cooperation with China on Green Finance
By Editors | 23/06/2020
MAS managing director Ravi Menon suggests that China and Singapore work together to create frameworks for green and sustainability-linked loans, customised for Chinese and Singaporean SMEs.
Fintech / Regtech
MAS: 14 of 21 Digital Bank Applicants Assessed as ‘Eligible’
By Editors | 18/06/2020
These applicants assessed as eligible will progress to the next stage of assessment, where they will be invited to present their proposals via virtual meetings.
MAS Issues Directions on Safe Re-opening of Financial Sector
By Editors | 16/06/2020
Although access to in-person services will expand, MAS “strongly encourages” FIs and their customers to continue using digital financial services and e-payments as much as possible.
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