Singapore

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

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

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

Herbert Smith Freehills launches 2016 guide to Financial Services Regulation in Asia Pacific

         Herbert Smith Freehills LLP has launched its 2016 guide on Financial Services Regulation in Asia Pacific. Please click here to preview this publication. 

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Filed under Asia, China, Hong Kong, Indonesia, Philippines, Singapore, Thailand, Vietnam

Singapore: MAS withdraws approval from Singapore branch of an international bank for serious AML and conduct breaches

The Monetary Authority of Singapore (MAS) announced this week that it has withdrawn approval from the Singapore branch of an international bank due to serious breaches of anti-money laundering (AML) requirements, poor management oversight, and gross misconduct by certain bank staff. … Continue reading

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Filed under Asia, Banking, Singapore

Corporate Crime Monthly Update October 2015

Welcome to the October 2015 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 … Continue reading

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Filed under Americas, Asia, Bribery and Corruption, China, Corporate Crime, Dubai, EU, France, Hong Kong, India, Indonesia, Japan, Malaysia, Pakistan, Sanctions and Money Laundering, Singapore, Spain, UAE, US

New guide to anti-corruption regulation in Asia Pacific launched

Over the past two years we have witnessed an exponential increase in global efforts to combat corruption. ¬†Nowhere is this more visible than Asia, where a number of countries have recently passed new anti-corruption legislation or taken steps to strengthen … Continue reading

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Filed under Asia, Australia, Bribery and Corruption, Cambodia, China, Hong Kong, India, Indonesia, Japan, Korea, Macau, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam

Market abuse update – April 2015

2014 was marked by record fines for benchmark manipulation globally, criminal prosecutions for insider trading and market manipulation, and the first publication of warning notices.¬† The start of 2015 has seen some notable cases in the UK, US and Australia, … Continue reading

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Filed under Americas, Asia, EU, Europe, European Regulation, FCA, France, Hong Kong, Singapore, UK, US

The new market misconduct enforcement regime in Singapore – and a brief comparison with the position in Hong Kong

From 17 March 2015 onward, all market misconduct offences (such as insider trading and market manipulation under Part XII of the Securities and Futures Act (SFA)) will be investigated jointly by both the Monetary Authority of Singapore (MAS) and the … Continue reading

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Filed under Germany, Singapore