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| Asia

Record jail term for market manipulation in Singapore

At the end of a trial that spanned almost 200 days, John Soh Chee Wen and Quah Su-ling were convicted as masterminds behind the most serious case of market manipulation…

| Asia

VCFM fund managers reminded of good practice

Following last year’s inspections of venture capital fund managers, the MAS has highlighted areas of best practice under the regime and reminded all fund managers to take note. The Venture…

| Asia

MAS proposes to apply Fair Dealing Guidelines to all

The MAS has issued a consultation regarding its Fair Dealing Guidelines which widens the scope of application to include “all products and services offered by financial institutions to their customers”.…

| Asia

Asia Newsletter | December 2022

NEWSLETTER: Last month in Singapore, we saw the quick move from MAS to ban outright Payment for Order Flow (PFOF), or the commission or equivalent payment which a broker receives…

| Asia

SFC underlines importance of meeting international regulatory obligations

An investigation, conducted by the SFC, on Asia Research & Capital Management Limited resulted in disciplinary action and the banning of its Manager-in-Charge for Compliance due to an overseas regulatory…

| Asia

MAS aims to preserve stablecoin stability with new regulatory framework

Proposed regulatory changes show that the MAS sees stablecoins as a valid medium of exchange – provided they are securely backed. The revised framework, outlined in an MAS consultation paper,…

| Asia

MAS to ban payment for order flow

In a surprising move, the MAS has announced a complete ban on payment for order flow in Singapore. The ban will affect brokers, banks, merchant banks and finance companies dealing…

| Asia

MAS calibrates consumer protection measures to curb crypto trading risks

The MAS has issued a consultation paper setting out proposed regulatory measures addressing the risks posed by cryptocurrency trading and services to consumers in Singapore. For retail customers increasingly trading…

| Asia

Asia Newsletter | October 2022

NEWSLETTER: Our article on the speech by MAS’ Managing Director, Ravi Menon, on the topic of development and risks associated with digital assets and cryptocurrencies provides an excellent summary snapshot…

| Asia

MAS and CAD take action against former BSI Bank Deputy CEO

The CAD and MAS have penalised senior management of BSI Bank Limited’s Singapore branch for breaches in AML/CFT laws and regulations. This brings to light the importance for firms to…

| Asia

SFC identifies compliance lapses at online brokerages

The SFC has released its observations and findings based on reviews of licensed corporations providing brokerage, distribution and advisory services. The report, published in August 2022, outlines important details around…

| Asia

MAS confirms AML/CFT expectations of Singapore fund managers

In its recent guidance paper for External Asset Managers, the MAS confirms its supervisory expectations for effective AML/CTF frameworks and controls. The information paper was published on 24th August following…
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