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Enforcement
MAS Consults on Revised Misconduct Reporting Requirements
By Manesh Samtani | 24/04/2022
Misconduct reports will have to be submitted to MAS within 21 calendar days after an FI has found reasonable grounds to believe that misconduct has been committed.
Crypto / Digital Assets
Asset Managers Should Put Customers at Heart: SGX
By Manesh Samtani | 21/04/2022
At the IMAS Digital Summit 2022, SGX CEO Loh Boon Chye discussed the exchange’s approach to digital assets and technology adoption.
ESG / Sustainability
ABS Launches Environmental Risk Questionnaire for Banks
By Editors | 21/04/2022
The ABS has launched an industry standard template to help banks engage corporate clients in the assessment and mitigation of environmental risk issues.
AML / KYC
20 Year Old Pleads Guilty in OCBC Phishing Scam Case
By Editors | 20/04/2022
The individual worked with other youths to provide overseas syndicates control of bank accounts that were used to receive and dissipate funds obtained through scams.
Securities / Derivatives
Singapore Tightens Requirements for Family Office Tax Breaks
By Editors | 19/04/2022
The new requirements are expected to slow the market’s growth but over time attract larger and more wealthy families to set up in Singapore.
Fintech / Regtech
PwC Publishes 2022 Rankings of Global Retail, Wholesale CBDCs
By Sanday Chongo Kabange | 14/04/2022
The highest ranking retail CBDC projects were from Nigeria, the Bahamas, and China. The highest ranking wholesale CBDC projects were from Thailand, Hong Kong and Singapore.
Fintech / Regtech
Australia, Singapore to Deepen Collaboration via ‘FinTech Bridge’
By Editors | 13/04/2022
The bilateral FinTech Bridge will enable stronger cooperation and collaboration on policy and regulation to better support the cross-border growth of the fintech industry.
Fintech / Regtech
Singapore Crypto Firms Offered Clarity on Advertising Ban
By Darien Choong | 12/04/2022
Industry bodies have formed a task force to draft a code of practice to address issues around marketing and advertising of crypto services, as suggested by MAS.
Enforcement
Singapore Court Upholds Convictions of Russian, Singapore Nationals
By Editors | 08/04/2022
The two men served as resident directors for companies, declaring themselves rather than their Russian clients as the beneficial owners.
AML / KYC
Singapore Tightens Laws on Technology Risk, Crypto Assets
By Sanday Chongo Kabange | 06/04/2022
FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.
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