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MAS Proposes New Format for Reporting Financial Advisor Complaints
By Editors | 05/09/2019
Collecting data in a machine-readable format will increase efficiency by removing the need for manual processes and reducing the risk of human errors, MAS says in a consultation paper.
Market Infrastructure
Singapore Takes Steps to Transition Away from SOR
By Editors | 02/09/2019
Singapore’s banking body and foreign exchange market committee have identified SORA as “the most robust and suitable” alternative interest rate benchmark to SOR.
Fintech / Regtech
MAS Opens Applications for Digital Bank Licences
By Editors | 30/08/2019
Successful applicants will be announced in mid-2020, with the expectation that they meet MAS requirements and commence business by mid-2021.
Fintech / Regtech
Uncovering the Terms and Conditions for Technology
By Max Kantelia | 27/08/2019
Legislators and industry leaders need to work together to ensure the benefits of innovation do not come at the cost of fairness, choice, and privacy, says Zilliqa co-founder Max Kantelia.
Capital / Liquidity
MAS Offers Banks Guidance on Managing Loan Collateral
By Editors | 24/08/2019
In a review of collateral management standards and practices banks use when lending to corporates, MAS has identified four key areas that need improvement.
Capital / Liquidity
Singapore Large Exposures Rules to Take Effect in Oct 2020
By Editors | 22/08/2019
MAS published a draft large exposures framework in early 2018, trying to meet the BCBS timeline for adoption in January 2019. The final rules will now take effect in October next year.
AML / KYC
NTU Singapore to Develop New Tools to Fight Money Laundering
By Editors | 22/08/2019
Supported by the MAS and Singapore’s major banks, the project seeks to help wealth managers address money laundering risks with new AI and machine learning capabilities.
AML / KYC
Singapore Crypto Sector Consults on AML/CFT Code of Practice
By Editors | 15/08/2019
The code was facilitated by MAS and developed in consultation with ABS by ACCESS, the Association of Cryptocurrency Enterprises and Start-ups, Singapore.
Fintech / Regtech
Regulatory Trends: Behavioural Science in Culture & Conduct Supervision
By Stephen Scott | 15/08/2019
Regulators are adopting behavioural science tools pioneered by the Dutch central bank in their supervisory efforts, and firms are taking notice, says Stephen Scott at Starling.
AML / KYC
Singapore Shell Companies Vulnerable to Money Laundering: MAS
By Editors | 14/08/2019
While money launderers and tax evaders have traditionally used offshore companies, some have shifted to onshore companies to evade detection.
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