The guidelines aim to promote the adoption of robust practices for managing technology risks in the financial sector. By Farhana Sharmeen and Marc Jia Renn Tan On 18 January 2021, the Monetary Authority of Singapore (the MAS) issued revised guidelines (the Guidelines) to take into account the fast-changing cyber threat landscape and financial institutions’ increased … Continue Reading
Regulators consult on an investor identification regime and outsourcing requirements, and issue guidance on electronic storage of regulatory records and environmental risk management By Farhana Sharmeen, Simon Hawkins, Kenneth Y.F. Hui, and Marc Jia Renn Tan This blog post summarises key regulatory developments in Hong Kong and Singapore during December 2020, including: The SFC’s consultation … Continue Reading
The proposal would require financial institutions to use certain categories of information for non-face-to-face verification before undertaking transactions or requests. By Farhana Sharmeen and Gen Huong Tan In November 2020, the Monetary Authority of Singapore (the MAS) published a consultation paper proposing to issue a Notice on Identity Verification (the Notice) that would require financial … Continue Reading
Regulators seek to address “rolling bad apples”, bank culture reform, and cryptocurrency derivatives. By Farhana Sharmeen, Simon Hawkins, Kenneth Hui, and Marc Tan This blog post summarises key regulatory developments that took place in Hong Kong and Singapore in May 2020, as regulators in both jurisdictions issued regulatory pronouncements across a spectrum of topics — … Continue Reading
MAS confirms regulatory approach for derivative contracts on payment tokens. By Farhana Sharmeen and Marc Jia Renn Tan On 15 May 2020, the Monetary Authority of Singapore (the MAS) issued its response to feedback about its proposed regulatory approach for derivative contracts that reference payment tokens as underlying assets (Payment Token Derivatives), confirming that it … Continue Reading
By Andrew C. Moyle, Grace Erskine, and Charlotte Collins As leading global financial and FinTech centres, the UK and Singapore will benefit from strengthening their cybersecurity alliance. On 13 June 2019, the Bank of England, the Financial Conduct Authority, and the Monetary Authority of Singapore announced that they will be working together to strengthen cybersecurity … Continue Reading
