Monetary Authority of Singapore

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    Capital / Liquidity

    MAS Issues Notice on Basel III Implementation

    By Editors | 17/05/2024

    MAS issued a notice to cancel the 2012 MAS Notice 637 and implement a new notice on the Basel III reforms with effect from 1 July 2024.

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    Crypto / Digital Assets

    Deutsche Bank Joins Singapore’s Project Guardian

    By Nithya Subramanian | 15/05/2024

    The bank will test an open architecture and interoperable blockchain platform to service tokenised and digital funds.

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    Crypto / Digital Assets

    MAS Grants Major Payment License to XREX Singapore

    By Nithya Subramanian | 14/05/2024

    The approval authorises six payment services, including cross-border money transfer, e-money issuance and DPT services.

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    Enforcement

    Singapore: Next Phase of FSMA Implementation Has Commenced

    By Editors | 14/05/2024

    MAS can now impose fines up to S$1mn for non-compliance with technology risk management requirements.

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    Securities / Derivatives

    MAS Finalises Rules for New OTC Derivatives Reporting Regime

    By Manesh Samtani | 14/05/2024

    The final regulations come into operation on 21 October 2024, introducing the UPI, UTI, CDE and ISO 20022 in reporting.

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    MAS Appoints New Chairman of the Board

    By Nithya Subramanian | 14/05/2024

    Minister for Trade and Industry Gan Kim Yong has been appointed Chairman for a two-year period.

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    Crypto / Digital Assets

    Singapore, UK to Boost Fintech, Green Finance Cooperation

    By Nithya Subramanian | 09/05/2024

    MAS and HM Treasury will collaborate to develop and finance green finance and energy transition projects in APAC.

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    Big Picture

    Regulatory Hurdles Limit Adoption of Tokenised Alternative Assets

    By Nithya Subramanian | 08/05/2024

    Moody’s Investors Service outlines the technical and regulatory hurdles that may limit adoption of tokenised alternative assets.

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    AML / KYC

    MAS Fines Swiss-Asia Financial Services for AML Breaches

    By Nithya Subramanian | 08/05/2024

    The CEO and COO were also reprimanded for failing to ensure compliance with the AML/CFT requirements.

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    Securities / Derivatives

    Singapore Examining Proposals to Boost Stock Market: Report

    By Nithya Subramanian | 07/05/2024

    The proposals would encourage stock investments by family offices, wealth management businesses, pension funds and sovereign funds.

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