Region: Singapore

MAS consulting on foreign branch exemptions

Singapore’s regulator is consulting on new exemptions from business conduct and notification requirements for banks’ foreign head offices and local branches, after banks said recent reforms to its regime for foreign related corporations risked an “unlevel playing field”.

08 April 2021

FCA and MAS name women to senior leadership roles

The UK’s Financial Conduct Authority will have a majority-female executive committee after making four new senior appointments, while Singapore’s regulator has announced its new head of financial supervision.

09 March 2021

New Philippine digital bank framework prompts South African entrant

A South African fintech advised by Ashurst may become the first financial institution to be licensed under the Philippines’ new digital banking framework after it was enacted in November.

08 March 2021

“The new normal”: Singapore addresses work-from-home risks

Last year’s shift to remote working in the covid-19 pandemic did not trigger “any significant increase in operational, fraud and cyber risks”, according to a new paper published by Singapore’s banking association and regulator, which outlines a range of new policies banks should adopt if the practice becomes “the new normal” post-pandemic.

03 March 2021

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

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