by Argus | Compliance, Financial Institutions, Fintech, News
A set of legally binding requirement was released by MAS today to raise the cyber security standards for the financial industry. This move is made with a view to strengthen the cyber resilience and enforce good cyber hygiene for the sector. MAS had sought the...
by Argus | Compliance, Financial Institutions, Monthly Newsletter, Regulatory Compliance
Articles and Events Summary IRAS considering GST exemption for Digital Payment Tokens This Article summarizes the new regulation pertaining to the exemption of Digital Payment Tokens from Goods and Services Tax (GST). The draft consultation is currently open for...
by Argus | Anti Money Laundering, Compliance, Financial Institutions, News, Regulatory Compliance
Following a series of financial crime scandals, including its alleged role in handling money embezzled from the Malaysia state-owned investment fund 1MDB, Deutsche Bank is back in the news. The bank has launched a Client-Data compliance probe after laying off...
by Argus | Financial Institutions, News, Regulatory Compliance, Variable Capital Company
MAS is consulting on proposed regulations for VCC insolvency and winding up The Variable Capital Companies Act (“VCC Act”) was passed in Parliament on 1 October 2018. The VCC Act provides the legislative framework for the incorporation, operation, and regulation of a...
by Argus | Digital Tokens, STO & ICO, Financial Institutions, Payment Services Bill, Regulatory Compliance, Tax
IRAS considering GST exemption for Digital Payment Tokens Introduction Digital payment tokens /Cryptocurrencies are a taxable supply of services as per current GST rules. Business involves in the sale, issue or transfer of such tokens for consideration by a...
by Argus | Anti Money Laundering, Consultation Paper, Financial Institutions, Monthly Newsletter, Regulatory Compliance
Articles and Events Summary Capital Markets Services License (CMSL) – Dealing in Capital Market Products The article gives a brief introduction about Capital Market Products, specifically the requirements surrounding the criteria for grant of a CMSL and additional...
