Region: Singapore

Singapore regulator gets new powers over crypto payments

Singapore has granted its banking regulator increased powers to monitor a wider range of companies offering cryptocurrency services, in a bid to counter money laundering and terrorist financing through digital service providers.

11 January 2021

New year, new promotions

Morrison & Foerster, Allen & Gledhill and Hogan Lovells have all included banking regulation practitioners in their new year promotions rounds.

11 January 2021

Australia guides on Libor conduct risk, Singapore maps out Sibor end

Singapore’s financial regulator has announced a timeframe for its transition away from the Sibor benchmark, as the Australian Securities and Investments Commission (ASIC) urges banks to ensure their risk frameworks are flexible enough to handle the transition away from Libor.

18 December 2020

Goldman Sachs to address risk management after US$2.9 billion 1MDB settlement

Goldman Sachs has been ordered to improve its risk management and oversight procedures after settling with 10 regulators in five jurisdictions over an alleged multibillion-dollar bribery and embezzlement scheme with respect to Malaysian fund 1MDB.

29 October 2020

“There is time if you start now”: regulators push greater urgency on benchmark transition

The Bank of England and Monetary Authority of Singapore are among the global regulators appealing for urgency with next year’s transition away from the Ibor benchmarks – even as nearly two thirds of firms at a recent event dedicated to the transition admitted they still do not have plans in place.

05 October 2020

Community round-up: departures at MAS and FCA

The UK’s Financial Conduct Authority and the Monetary Authority of Singapore have both announced the departures of key names.

22 September 2020

Singapore issues first conduct framework

In a long-awaited development, the Monetary Authority of Singapore has published guidelines on senior managers’ conduct – firing the starting gun on a new phase of self-scrutiny for firms operating in the city-state.

10 September 2020

Singapore moves forward on benchmark reform

Singaporean regulators have announced a series of measures to push forward the adoption of Sora, the city-state’s new benchmark.

07 August 2020

Standard Chartered first to qualify for Singapore’s foreign bank privileges

The Monetary Authority of Singapore has announced reforms to its Significantly Rooted Foreign Bank regime, as it names Standard Chartered’s local subsidiary as the first bank to benefit from the eight-year-old framework.

04 August 2020

Australia relaxes, Europe extends, Singapore introduces dividend restrictions

Australian regulators have announced a relaxation on dividend restrictions imposed at the beginning of the covid-19 crisis – while their European counterparts have extended them until next year, and Singaporean regulators have called on banks to cap dividends for the first time.

29 July 2020

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