Articles & Events Summary

 

Strengthening AML/CFT Controls of Digital Payment Token (DPT) Providers

The Monetary Authority of Singapore (MAS) recently released an infographic setting out recent international developments and MAS’ supervisory expectations on anti-money laundering / countering the financing of terrorism (AML/CFT) controls for the Digital Payment Token (DPT) sector operating under the Payment Services Act (PSA).

For more details, please click here.

 

Industry News

 

Singapore Funds Industry Group (SFIG) to Strengthen Singapore’s Fund Management Ecosystem

The Monetary Authority of Singapore (MAS) announced on 27 April 2021 the establishment of the Singapore Funds Industry Group (SFIG) – a new partnership between MAS and industry stakeholders to lead the promotion, development and sustainable growth of Singapore’s asset management industry, and enhance Singapore’s value proposition as a leading full-service asset management and fund domiciliation hub by identifying emerging industry trends, new market opportunities, recommending appropriate standards, developmental initiatives and innovative solutions, and formulating strategies to develop the asset management ecosystem.

To read the full article, please click here.

 

MAS Regulatory Updates – Highlights

 

23 April 2021 – Exemptions issued under Section 337(2) of SFA – 1Q2021

View exemptions issued under Section 337(2) of the Securities and Futures Act for the period from 1 January 2021 to 31 March 2021.

To view the document, please click here.

 

22 April 2021 – Form 29 – Notice of Cessation of Business / Any Regulated Activity by a Person Exempted from Holding a Capital Markets Services Licence under Section 99(1)(a), (b), (c) and (d)

Form for banks, merchant banks, finance companies and insurers to notify MAS when they cease any regulated activity or activities. This form must be submitted within 14 days after the cessation of the regulated activity or activities.

To view the form, please click here.

 

08 April 2021 – Notice 639A Exposures and Credit Facilities to Related Concerns

Requirements on banks for preparing statements of exposures and credit facilities to related concerns.

To view the notice, please click here.


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