The Payment Services Act will also impose limits on how much personal mobile wallets can hold, and how much money can be transferred out to accounts other than the user's designated bank accounts in a year, among others.
All regulated dealers of precious stones and metals, like diamonds, jade, silver and gold, will have to conduct stricter customer due diligence checks when handling transactions.
This article highlights the key changes which came into force on 30 Nov 2018.
SGX RegCo’s main concern is how the issuer safeguards its own interest and that of its shareholders when it conducts an ICO.
The Guide provides general guidance on the application of the securities laws in relation to offers or issues of digital tokens in Singapore.
The document sets out 14 principles for firms to consider when assessing existing or developing new internal frameworks to govern the use of AI and data analytics.
The writer seeks to find a balance between mitigating enterprise failure risk and financial loss to the public consumer with reasonable protection to the consumer.
Known as the Adversarial Attack Simulations Exercises Guidelines or “Red Teaming” Guidelines, the Guidelines provide financial institutions with best practices and guidance on planning and conducting Red Teaming exercises to enhance their security testing.
MAS Notice 637 (Amendment No. 2) 2018 further includes widening the scope of eligible collateral relating to commodities and equity for credit risk mitigation purposes, revising the risk weight for unrated exposures to public sector entities under the standardised approach for credit risk and more.
The MAS Act has been amended with effect from 29 Oct to strengthen and enhance the powers of the MAS to resolve distressed FIs in an orderly manner.
Proposed rules aim to mitigate risks of money laundering and terrorism financing.
This follows his guilty plea to criminal charges brought against him in the US over his role in 1MDB scandal.
A DBS relationship manager allegedly accessed a customer's bank account without authority and transferred more than US$102,000 ($140,000) to other accounts.
Announced on 11 Nov, this achievement will help simplify post-trade processes and further shorten settlement cycles.