Monthly Newsletter, August 2021
MAS Regulatory Updates - Highlights 18 August 2021 – FAQs on the Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013 Implementation of the reporting obligations for requirements set out under the Securities And Futures (Reporting...
Webinar: Getting set up in Singapore – what are the jurisdictional advantages for fund managers?
Thursday 9th September Are you a regulated fund manager looking to get setup in Singapore and take advantage of its jurisdictional advantages? Find out how Argus Global can help make this process a seamless one for you by taking care of the various licensing and...
Webinar: Regulatory Compliance Solutions in Singapore
Wednesday 8th September Topics will include: The various types of compliance support available Assistance with internal audit and training Risk management AML and KYC Register: Register for 4pm Singapore time > Register for 9am London time > Register for 11am...
Setting up a VCC in Singapore: What you need to know
On 14 September at 4:30pm Singapore/HK time, Argus Global will be speaking on a Waystone hosted webinar along with other panelists from BNP Paribas, Simmons & Simmons and EY Singapore on the setup of a VCC in Singapore. Find out more in the invite below: To...
Monthly Newsletter, July 2021
Industry News 13 July 2021 - Consultation paper on the proposed new AML/CFT Notice for precious stones and precious metals activities and updates to AML/CFT notices The Monetary Authority of Singapore (“MAS”) released a consultation paper on 9 July 2021...
MAS Releases Consultation Paper on the Proposed New AML/CT Notice for Precious Stones & Precious Metals Activities
The Monetary Authority of Singapore (“MAS”) released a consultation paper on 9 July 2021 inviting the public to comment on proposals to impose new anti-money laundering and countering the financing of terrorism (“AML/CFT”) measures for financial institutions who...
Family offices and the Variable Capital Company (VCC)
The Monetary Authority of Singapore (MAS) has introduced an alternative fund framework, the Variable Capital Company (VCC), to encourage more funds to be domiciled in Singapore and enhance the jurisdiction’s value as an international fund management centre. VCC came...
Monthly Newsletter, June 2021
Articles & Events Summary Argus Global comes together with Waystone Argus Global is delighted to announce that it has come together with Waystone to form Waystone Compliance Solutions together with Titan Regulation, CCL Compliance and ISAS. Read more...
MAS extends training support measures to foster skills development in new growth areas
On 25 June 2021, MAS and IBF announced new measures for the extension of the enhanced training support measures to build capabilities and strengthen employability of the local workforce. The course fee subsidies under both IBF-Standards Training Scheme (IBF-STS) and...
MAS Reprimands AIA Financial Advisers, Prudential, and Two Aviva Entities
On 15th June 2021, Monetary Authority of Singapore (MAS) reprimanded several large financial institutions in the insurance and financial advisory sector for breaches relating to risk management arrangements and remuneration of supervisors. AIA Financial Adviser,...
Argus Global comes together with Waystone
Argus Global is delighted to announce that it has come together with Waystone to form Waystone Compliance Solutions together with Titan Regulation, CCL Compliance and ISAS. Read more in the announcement here.
MAS proposes to mandate reference checks
The Monetary Authority of Singapore (“MAS”) released a consultation paper on 17 May 2021 inviting the public to comment on proposals to mandate reference checks for both representatives of financial institutions and other employees of financial institutions. Current...
MAS Revised Corporate Governance Guidelines in Singapore
On 7 May 2021, The Monetary Authority of Singapore (“MAS”) consulted on proposed changes to the Guidelines on Corporate Governance for Designated Financial Holding Companies, Banks, Direct Insurers, Reinsurers and Captive Insurers. The consultation closes on 18 June...
Launch of our IBF accredited training programme
We are pleased to announce that our Anti-Money Laundering and Countering the Financing of Terrorism (“AML/CFT”) Training for Financial Institutions course has been recognised by the Institute of Banking and Finance (IBF) under the Financial Training Scheme (“FTS”)...
MAS bans individuals for making false and misleading statements
The Monetary Authority of Singapore (MAS) has imposed a two-year prohibition order against, Mr Lim Chew Keat, a former insurance agent of Synergy Financial Advisers Pte Ltd (Synergy FA) for making false and misleading statements to his clients. The prohibition order...
MAS issues new prohibition order for conducting regulated activities without a licence
On 7 May 2021, the Monetary Authority of Singapore (MAS) issued a 10-year prohibition order against an individual named Mr Ahmadnawar Bin Abd Karim. The prohibition order was implemented after the court issued a conviction that Mr Ahmadnawar conducted regulated...
MAS consults on proposed AML notices under proposed exemption framework
On 12 May 2021, The Monetary Authority of Singapore (MAS) issued a consultation paper to seek comments on draft Notices setting out the proposed Anti-Money Laundering and Countering the Financing of Terrorism requirements under both the proposed Branch framework and...
MAS Commits over S$42million to Spur Tech Solutions for Risk Management and RegTech
The Monetary Authority of Singapore (MAS) has announced a new Regulatory Technology (RegTech) grant scheme and enhancement of the Digital Acceleration Grant (DAG) scheme. MAS will commit S$42 million for the RegTech grant scheme and DAG scheme. The RegTech scheme aims...
DNB Fined for not Complying with Money Laundering Rules
Norway’s biggest bank DNB has been warned that it may be fined 400 million kroner ($45 million) for failing to comply with anti-money laundering rules. Norway’s financial supervisory authority indicated in a preliminary report sent to DNB Bank that it may impose the...
Are You Prepared to Comply with MAS Environmental Risk Management Guidelines?
The Monetary Authority of Singapore (“MAS”) consulted on June 2020, on the proposed guidelines to enhance fund managers’ resilience to and management of environmental risk. The response to the said consultation was released on 8th December 2020. The Environmental Risk...
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