JURISDICTIONS

Singapore’s MAS issues Guide to Digital Token Offerings

On 14 November 2017, the Monetary Authority of Singapore (MAS) issued a guide during the first day of the Singapore FinTech Festival to provide general guidance on the application of the securities laws administered by the MAS, namely the Securities … Continue reading

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Filed under Announcements, Regulatory Reform, Singapore

MAS CLARIFIES STANCE ON DIGITAL TOKENS

On 1 August 2017, the Monetary Authority of Singapore (MAS) clarified through a media release that an offer or issue of digital tokens would be regulated if these tokens constitute products which are regulated under the Securities and Futures Act … Continue reading

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Filed under Asia, Singapore

Singapore: consultation on regulations for the provision of digital advisory services

In line with its recognition of the rapid expansion of, and new products within, the FinTech sphere, the Monetary Authority of Singapore (MAS) issued a consultation paper on 7 June 2017 on the provision of digital advisory services (i.e. advice … Continue reading

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Filed under Asia, Singapore

U.S. administration imposes limited new sanctions against Iran

On February 3, 2017, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) added a number individuals and entities to its Specially Designated Nationals ("SDNs") list of blocked persons. OFAC stated that such actions were taken in response to … Continue reading

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Filed under Iran, Sanctions and Money Laundering, US

Securities and Futures (Amendment) Bill 2016 moved for second reading

On 9 January 2017, the MAS announced the Second Reading of the Securities and Futures (Amendment) Bill 2016 (Bill) in the Singaporean Parliament. The Bill introduces wide-ranging amendments aimed at strengthening the regulation of over-the-counter derivatives markets, enhancing regulatory safeguards … Continue reading

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Filed under Singapore

New US Cyber Security sanctions targeting Russia

On 29 December 2016, President Obama signed an Executive Order entitled "Taking Additional Steps To Address The National Emergency With Respect To Significant Malicious Cyber-Enabled Activities".  In an official statement, President Obama said that the Executive Order was issued "in response to the … Continue reading

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Filed under Corporate Crime, Non-UK regulation, Russia, Sanctions and Money Laundering, US

Corporate Crime Monthly Update October 2016

Welcome to the October 2016 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. For the full update on each jurisdiction, … Continue reading

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Filed under Bribery and Corruption, Cambodia, China, Corporate Crime, Cuba, Dubai, EU, European Regulation, Germany, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Pakistan, Sanctions and Money Laundering, Singapore, UAE, UK, US

MAS withdraws second merchant bank status in AML push

In line with its increased commitment to combat money laundering and terrorist financing in Singapore, the Monetary Authority of Singapore (MAS) has ordered the closure of Falcon Private Bank Ltd, Singapore Branch (Falcon Bank). On 11 October 2016, the MAS … Continue reading

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Filed under Asia, Sanctions and Money Laundering, Singapore

US further eases sanctions against Cuba

On 14 October 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) again announced significant amendments to the Cuban Assets Control Regulations (CACR) and … Continue reading

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Filed under Americas, Cuba, Sanctions and Money Laundering, US

Singapore Exchange seeks greater collaboration with industry around market conduct issues

The Singapore Exchange (SGX) has launched two initiatives that will see member firms collaborating with SGX to act as gatekeepers with respect to market conduct issues. The first initiative is the launch of a Trade Surveillance Handbook (Handbook) to provide … Continue reading

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Filed under Asia, Singapore