The Monetary Authority of Singapore (MAS) has recently finalised its proposals on mandating reference checks.
The finalised proposals are substantially in line with those initially proposed in its Consultation Paper on...more
The MAS has finalised its regulatory approach for stablecoin-related activities. The finalised approach is substantially similar to what was originally set out in its consultation paper on the same issued on 26 October 2022....more
The Variable Capital Company (VCC) is a new corporate entity structure under which several collective investment schemes (whether open-end or closed-end) may be gathered under the umbrella of a single corporate entity and yet...more
The Monetary Authority of Singapore (MAS) has proposed mandatory reference checks be carried out by all financial institutions and regulated entities....more
The Monetary Authority of Singapore (MAS) has issued a Consultation Paper on Proposals to Mandate Reference Checks. -
All financial institutions and entities regulated by the MAS are proposed to be required to carry out...more
Singapore has issued a consultation paper on a proposed green taxonomy that will, to a large extent, be aligned with the EU’s Regulation EU 2020/852 on the establishment of a framework to facilitate sustainable investment (EU...more
The Hong Kong government recently announced that the insurance group-wide supervision framework (GWS framework) will commence on 29 March 2021. The GWS framework will be implemented via the Insurance (Amendment) (No. 2)...more
Banks, asset managers and insurers have 18 months to introduce and implement environmental risk management practices in accordance with new Guidelines on Environmental Risk Management. The Guidelines were issued by the...more
The Monetary Authority of Singapore (MAS) has issued three new consultations each dealing with different aspects of the regulation of digital payment tokens (DPTs) under the Payment Services Act (PSA). It has also recently...more
The MAS recently issued Guidelines on Provision of Financial Advisory Services, which set out the approach of the MAS to determining whether a person is providing financial advisory services in Singapore. In a separate...more
Ensuring compliance with the MAS’s proposed Guidelines on Individual Accountability and Conduct will be a non-trivial exercise. While non-prescriptive in nature, FIs will need to conduct a proper and systematic analysis of...more
The MAS is proposing changes to requirements for outsourcing arrangements by banks and merchant banks. The proposals will extend requirements on outsourcing to a wider range of outsourcing arrangements as well as enhance the...more
Financial advisers from Singapore, Malaysia, the Philippines and Thailand can apply to provide financial advisory services in each others’ jurisdictions pursuant to the ACMF Pass. In a separate development, the MAS is...more
A new Payment Services Bill tabled in Parliament sets out the MAS’s proposed licensing framework for providers of payment service activities. The three categories are: Money-Changing Licensee, Standard Payment Institution and...more
Banks will need to include bail-in recognition provisions in certain regulatory capital instruments not governed by Singapore law. New approval and notification requirements also applied to banks as from 30 November 2018....more