Source-codes of successful DLT prototypes released to encourage innovation in inter-bank payments LeapRate

November 14, 2017 BY Valentina Kirilova

Source-codes of successful DLT prototypes released to encourage innovation in inter-bank payments

The industry consortium led by the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) has released the report and source-codes on distributed ledger prototypes for inter-bank payments. The report: ‘Re-imagining Interbank Real-Time Gross Settlement Systems Using Distributed Ledger Technology’ describes the prototypes developed on three Distributed Ledger Technology (DLT) platforms…

DFSA launches Cyber Threat Intelligence Platform

November 14, 2017 BY Valentina Kirilova

FS-ISAC and MAS to strengthen cyber information sharing across nine countries

The Financial Services Information Sharing and Analysis Center (FS-ISAC) and the Monetary Authority of Singapore (MAS) informed that they have launched the FS-ISAC Asia Pacific Regional Analysis Centre’s office and operations in Singapore. The setting up of the Regional Centre in Singapore shows the growing collaboration between the two organisations to fight cybercrime. The Centre…

November 06, 2017 BY Valentina Kirilova

MAS issues Explanatory Brief for Payment and Settlement Systems

Mr Lim Hng Kiang, Minister for Trade and Industry (Trade), and Deputy Chairman, Monetary Authority of Singapore (MAS), on behalf of Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister in charge of the Monetary Authority of Singapore, today moved the Payment and Settlement Systems (Finality and Netting) (Amendment) Bill (the “Bill”) for First Reading in…

Paxos teams up with bitcoin payment service BitPay

November 03, 2017 BY Valentina Kirilova

MAS and China's Securities Regulator to facilitate market development

The Monetary Authority of Singapore (MAS) and the China Securities Regulatory Commission (CSRC) announced that they have agreed to strengthen supervisory cooperation and facilitate the development of their capital markets, during the 2nd MAS-CSRC Supervisory Roundtable held in Singapore on 31 October 2017. The Roundtable is one of the key outcomes of President Xi Jinping’s…

November 02, 2017 BY Valentina Kirilova

MAS obtains higher civil penalties against two individuals for unauthorised share trading

The Monetary Authority of Singapore (MAS) announced that it has successfully obtained higher civil penalties against Mr Wang Boon Heng (Wang) and Ms Foo Jee Chin (Foo) for contravening section 201(b) of the Securities and Futures Act (SFA), which prohibits any conduct that operates as a fraud or deception in connection with the subscription, purchase…

October 26, 2017 BY Valentina Kirilova

Senior Management changes at the Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) today announced the following changes to its senior management team: Ms Ho Hern Shin, currently Executive Director (Insurance Department), will be appointed as Assistant Managing Director (Banking & Insurance). She will take over the position from Mr Chua Kim Leng, who has requested to relinquish his current role to…

October 06, 2017 BY Valentina Kirilova

MAS to enhance the cyber resilience of Singapore’s financial sector

The Monetary Authority of Singapore's (MAS) Cyber Security Advisory Panel (CSAP) announced that has discussed strategies to enhance the cyber resilience of Singapore’s financial sector, at its inaugural meeting on 5-6 October. The discussions covered areas ranging from regulatory guidance, supervision, and surveillance to information sharing and capability development. The list of CSAP members who…

June 09, 2017 BY Valentina Kirilova

Monetary Authority of Singapore and ASBA sign FinTech MoU

The Monetary Authority of Singapore (MAS) and the Association of Supervisors of Banks of the Americas (ASBA) today signed a Memorandum of Understanding (MOU) to bolster FinTech ties between Singapore and the Americas. The MOU provides a framework for FinTech cooperation between Singapore and ASBA member countries. Under the framework, both parties can explore potential…

May 30, 2017 BY Valentina Kirilova

Monetary Authority of Singapore imposed financial penalties on Credit Suisse and UOB for 1MDB-related transactions

The Monetary Authority of Singapore (MAS) announced that it has completed its two-year review of banks involved in 1MDB-related transactions known to-date. In its latest regulatory actions, MAS has imposed financial penalties on Credit Suisse and United Overseas Bank (UOB), as well as issued Prohibition Orders (POs) against three individuals and served notice of its…

April 24, 2017 BY Valentina Kirilova

Singapore Commercial Affairs Department and MAS partner industry stakeholders to fight financial crimes

The Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of the Singapore Police Force today announced the launch of a government-industry partnership to strengthen Singapore’s capabilities in the fight against money laundering and terrorism financing (ML/TF). The Anti-Money Laundering and Countering the Financing of Terrorism Industry Partnership (ACIP) brings together selected industry…

Tag: Monetary Authority of Singapore