Regulatory Compliance Updates November 2022 – APAC Region

29 November 2022 - Compliance Toolkit for Approvals Notifications and Other Regulatory Submissions to MAS for Special Purpose Reinsurance Vehicles…
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ASEAN Central Banks sign MOU

At the recent G20 Leaders’ summit in Bali, Indonesia, Bank Indonesia, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, MAS and…
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Venture capital sector sees further expansion in Singapore

Singapore's venture capital ecosystem has been gradually developing over the past few years and is now one of the most…
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Singapore - Terrorism Financing National Risk Assessment 2020

In 2020, Singapore conducted a Terrorism Financing (TF) National Risk Assessment (NRA). The TF NRA was the culmination of knowledge…
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Regulatory Compliance Updates October 2022 – APAC Region

31 October 2022 - ID 14/22 Mitigating Measures against Fraud Incidents that involve Fraudsters Masquerading as Captive Insurers This informs…
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Regulatory Compliance Updates September 2022 – APAC Region

If you have any questions about the below updates, please reach out to our APAC compliance team for more information.…
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Enhancing Anti Money Laundering and Countering the Financing of Terrorism (AML/CFT) controls within the VCC sector

The VCC regime was launched in Singapore in January 2020, and in 2021, MAS conducted an industry-wide survey of VCCs,…
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Regulatory Compliance Updates August 2022 – APAC Region

31 August 2022 - MAS imposes composition penalty of $375,000 on UOB Kay Hian Private Limited for business conduct and…
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Audit Preparation For Business Continuity Management

Revised Business Continuity Management (“BCM”) Guidelines were introduced in June 2022, setting out the principles that Financial Institutions (“FIs”) are…
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Key Takeaways From MAS Information Paper on AML/CFT For External Asset Managers

The Monetary Authority of Singapore (MAS) has issued an information paper setting out MAS’ supervisory expectations of effective anti-money laundering…
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Regulatory Compliance Updates July 2022 – APAC Region

28 July 2022 - CFC 02/2022 Disclosure and Reporting Guidelines for Retail ESG Funds This Circular sets out MAS’ expectations…
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The latest MAS enforcement actions

The Monetary Authority of Singapore has taken action against individuals for conducting regulated activities in Singapore without holding appropriate licenses.
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Regulatory Updates June 2022

30 June 2022 - Implementation of fairness principles in financial institutions' use of artificial intelligence/machine learning MAS conducted a thematic…
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The latest MAS compliance requirements: How Waystone can help

With MAS compliance requirements becoming more complex, many firms find it more efficient to outsource their compliance needs.
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Financial Advisers Complaints Handling and Resolution (CHR) Regulations 2021

On 30 November 2021, The Monetary Authority of Singapore (“MAS”) published in the Government Gazette the new Financial Advisers (Complaints…
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MAS revised Business Continuity Management Guidelines

On 6 June 2022, The Monetary Authority of Singapore (MAS) released the revised Business Continuity Management Guidelines (BCM Guidelines).
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Regulatory Compliance Updates May 2022 – APAC Region

31 May 2022 - Information papers on environmental risk management The information papers on environmental risk management for banks, insurers…
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MAS consults on revised misconduct reporting for financial institutions

On April 2022, the Monetary Authority of Singapore (MAS) issued a Consultation Paper on Revised Notices on Misconduct Reporting Requirements…
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