The Monetary Authority of Singapore (MAS) and the Central Bank of Egypt (CBE) announced that they have signed an agreement to strengthen FinTech cooperation between the two countries on 6 February 2018. The Cooperation Agreement was signed at Seamless North Africa 2018 (under the patronage of the CBE), a conference focused on Payments, FinTech and…
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The Monetary Authority of Singapore (MAS) informed that it has today launched a public consultation on proposed guidelines to protect users of electronic payments (e-payments). The proposed E-payments User Protection Guidelines aim to encourage wider adoption of e-payments by setting standards on the responsibilities of financial institutions and e-payment users. Under the new Guidelines, individuals…
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The Monetary Authority of Singapore (MAS) has issued new guidance to financial institutions (FIs) on the use of innovative technology solutions to facilitate safe, non-face-to-face customer on-boarding. MAS requires FIs operating in Singapore to implement robust controls when onboarding new customers, e.g. when opening a bank account, to detect and deter money laundering or terrorism…
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The Monetary Authority of Singapore (MAS) and the Securities Commission Malaysia (SC) announced that they will work together to facilitate the establishment of a stock market trading link between Bursa Malaysia (BM) and Singapore Exchange (SGX) by the end of this year. The trading link will allow investors to trade and settle shares listed on…
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The Monetary Authority of Singapore (MAS) and the Institute of Banking and Finance (IBF) today announced that IBF will expand its mandate to provide career advisory and job placement services for the financial sector. IBF will set up a dedicated Career Centre providing advisory services for professionals in the financial industry. The Centre, targeted to…
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The Monetary Authority of Singapore (MAS) announced today that the Singapore Savings Bond (SSB) which was opened for application in January 2018 (SBFeb18) was oversubscribed. More than 6,300 investors submitted applications totalling approximately S$172 million, exceeding the issuance size of S$150 million. As a result of the oversubscription, some investors will not receive the full…
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The Monetary Authority of Singapore (MAS) has issued prohibition orders against Mr Tan Peng Khoon. Mr Tan will be prohibited for a period of 8 years from: carrying on business and taking part in the management of any insurance intermediary under the Insurance Act; and providing any financial advisory service, and taking part in the…
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The Monetary Authority of Singapore (MAS) has issued two prohibition orders against Mr Tey Thean Yang Dennis. Mr Tey will be prohibited for a period of 5 years from: performing any regulated activity, and taking part in the management, acting as a director or becoming a substantial shareholder of any capital market services firm under…
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The Monetary Authority of Singapore (MAS) announced today that it has issued a lifetime Prohibition Order (PO) against Mr Yeo Jiawei and a 3-year PO against Mr Kevin Scully. Both POs take effect from 18 December 2017. MAS had earlier served notices of intention to issue POs against Mr Yeo and Mr Scully in October…
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The Monetary Authority of Singapore (MAS) advised the public to act with extreme caution and understand the significant risks they take on if they choose to invest in cryptocurrencies. MAS is concerned that members of the public may be attracted to invest in cryptocurrencies, such as Bitcoin, due to the recent escalation in their prices.…
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