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Monetary Authority of Singapore (MAS)
Banking & finance
MAS expands guidelines on fair dealing to all financial institutions as well as products and services
FIs will be expected to incorporate key principles of fair dealing at various stages of a product’s life cycle.
May 30, 2024
Environmental, Social and Governance
MAS, People’s Bank of China further collaboration in green and transition finance
The two parties met in Beijing at the 2nd China-Singapore Green Finance Taskforce (GFTF) meeting on May 20.
May 21, 2024
Singapore news
Gan Kim Yong to become DPM and chairman of MAS
Gan will be MAS’s chairman from May 15 to May 31, 2026.
May 13, 2024
Anti-money laundering
MAS imposes $2.5 mil penalty on Swiss-Asia Financial Services for AML and CFT breaches
In its May 7 statement, MAS says the company has taken the “necessary remedial actions” to address the deficiencies identified.
May 07, 2024
New appointments
MAS appoints Chee Hong Tat to Board of Directors; Tan Chorh Chuan to step down May 31
Heng Swee Keat, Alvin Tan, Peter Ong, Deborah Ong and Ng Wai King will be reappointed as board members.
May 02, 2024
Banking & finance
DBS’s six-month pause on new business ventures ends today, but additional capital requirement to stay
MAS imposed the six-month pause last year after a series of disruptions to DBS’s digital banking services.
April 30, 2024
Singapore economy
MAS to keep prevailing rate of appreciation of S$NEER policy band
MAS’s latest decision comes as the Singapore economy is expected to strengthen over 2024.
April 26, 2024
Environmental, Social and Governance
AVPN launches social investing system ImpactCollab with MAS support
The platform will first be available to family office advisers, wealth advisers and private bankers in Singapore.
April 24, 2024
Startups, Entrepreneurs, Digital economy
Qashier awarded in-principle approval for a Major Payment Institution Licence from MAS
Fintech start-up Qashier, has been awarded an in-principle approval by MAS for a major payment institution licence.
April 24, 2024
Regulatory Action
MAS slaps 12-year prohibition order against former Manulife Financial Advisers representative for cheating
Ong Ka Yong was sentenced to 47 months’ imprisonment on Sept 4, 2023.
April 22, 2024