Four former insurance agents and two former bank employees have been banned by the Monetary Authority of Singapore (MAS) for fraud and dishonest conduct. MAS issued Prohibitive Orders (POs) against the following individuals following their convictions in the State...
The Monetary Authority of Singapore (MAS) has imposed a composition penalty of $400,000 on TMF Trustees Singapore Limited (TTSL) for failure to comply with MAS’ Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements. Trusts are...
Dutch Financial Regulators have supported plans by Netherlands to tackle complex international money-laundering schemes together. This follows a seven-month investigation to assess the Dutch financial sector’s exposure to the scandal that engulfed Danske Bank Estonia....
Articles and Events Summary Compliance Obligations under New Payment Services Act Payment Services Act (“the Act”) came into force on 28 January 2020 providing new framework for the regulation of payment systems and payment service providers in Singapore. The Act...
The European Union has added Cayman Islands to its tax havens blacklist along with Oman, Fiji and Vanuvatu accusing it of failing to crack down adequately on tax abuse. Other countries to be added to the blacklist are Panama, Palau and the Seychelles. The EU has...
Companies providing corporate financial advisory in Singapore are governed by the regulations under the Securities and Futures Act (SFA). In the Second Schedule to the SFA, corporate finance advisors are defined as companies giving advice on: compliance with the laws...
