Articles and Events Summary Regulation for Insurance Brokers in Singapore The Monetary Authority of Singapore (MAS) mandates the registration of insurance brokers in Singapore. A person who carries on business as any type of insurance broker in Singapore is required...
France fines UBS bank record S$5.6 billion in tax fraud case A Paris court on Wednesday fined Swiss banking giant UBS 3.7 billion euros (S$5.67 billion) for encouraging customers to commit tax fraud, a record in France where public opinion has grown vocal for...
ANTI MONEY LAUNDERING COUNTRY BLACKLIST PUBLISHED BY EU The European Commission adopted a list of countries that has weak anti money laundering and terrorist financing regimes, and urged banks to increase customer due diligence (CDD) checks on customers and firms from...
Accredited Investor (AI) – Opt-in Regime The Securities and Futures (Amendment) Act 2017 which came into force in 2018 (hereinafter the Amendment Act) introduced changes to the definition of who is an “ accredited investor ” pursuant to section 4A of the...
Articles & Events Summary Ongoing Regulatory Compliance in Singapore The Monetary Authority of Singapore (MAS) sets out a high regulatory yardstick to ensure that the relevant risks faced by all stakeholders are adequately mitigated, positively effecting...
Second reading of Payment Services Bill Singapore The Payment Services Bill (PSB) was read for the second time by Mr. Ong Ye Kung, Minister for Education, on behalf of Mr. Tharman Shanmugaratnam, Deputy Prime Minister and Minister-In-Charge of The Monetary Authority...
