Singapore’s central bank and main regulator say that financial services will remain open for clients and counterparties at home and overseas after the Asian city-state tightened controls last week to fight coronavirus. “All financial markets in Singapore remain open, and payment services are unaff...
from business inception to business closure, including business, product and services design and structuring, business conduct regulatory compliance, transaction advice and assistance, project management, legal documentation drafting and negotiation, regulator enforcement, disciplinary actions and default ...
The Monetary Authority of Singapore (MAS) yesterday launched the Financial Services Industry Transformation Map (ITM) 2025, setting out the growth strategies to be pursued to further develop Singapore as a leading international financial centre in Asia -
for additional clarifying information or deny the account opening outright. Singapore’s financial regulator — the Monetary Authority of Singapore — uses data analytics as a monitoring tool for its supervisory role. This involves the collection, aggregation, and analysis of financial data in order ...
The Monetary Authority of Singapore (“MAS”) is Singapore’s central bank and sole bank regulator, and oversees all financial institutions in Singapore. Beyond MAS, international regulatory bodies possess varying degrees of influence over the regulatory regime in Singapore by virtue of Singapore’s ...
The financial regulator said that information exchange onCOSMIC, which is currently voluntary, focuses on three financial crime risks: shell companies abuse; trade finance misuse for illicit purposes; and financing that supports weapons of mass destruction proliferation. Financial institutions are only perm...
The interruption triggered a torrent of complaints from clients who could not withdraw cash from ATMs for hours, and prompted the supervisory action from the country’s financial regulator. Speaking at an industry event in December 2021, DBS chief executive Piyush Gupta apologized for the service do...
MAS added that smaller financial institutions that need financial support to adopt digital tools outside the realm of regulatory data reporting could turn to theDigital Acceleration Grant. The regulator's chief fintech officer Sopnendu Mohanty said: "The co-funding support for the adoption of re...
Singapore Financial Services The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator. MAS also works with the financial industry to develop Singapore as a dynamic international financial centre.
Digital asset custodian, Hex Trust, announced receiving in-principle approval from Singapore’s financial regulator for a major payment institution (MPI) license. The approval will enable Hong Kong- headquartered Hex Trust to offer regulated “Digital Payment Token” services, including custody and over...