Australian supermodel Miranda Kerr has handed over $8.1m (£6.4m, €7.2m) worth of jewellery to US authorities that she allegedly received from former boyfriend Jho Low, a person of interest in the 1MDB scandal.
The Monetary Authority of Singapore (Mas) has reappointed Ravi Menon as managing director for a further two years, effective from 1 June 2017.
The Monetary Authority of Singapore (Mas) has fined Credit Suisse and United Overseas Bank (UOB) and issued prohibition orders against three people following a two-year investigation into scandal-plagued wealth fund 1Malaysia Development Berhad.
Life insurers in Singapore can now offer life policies online that can be sold without financial advice, according to new guidelines released by the Monetary Authority of Singapore (MAS).
The financial industry continues to be “plagued by egregious misconduct” and requires signficant reform, the Monetary Authority of Singapore’s managing director has said.
Former Goldman Sachs director Tim Leissner has been banned from working in Singapore’s financial services industry for 10 years for his involvement with stricken Malaysian sovereign wealth fund 1MDB, with further prohibition orders expected.
Life companies in Singapore must do more to improve the business culture within their organisation following a number of mis-selling cases involving poor or inappropriate financial advice, a senior official from the Monetary Authority of Singapore (MAS) has said.
Singapore’s 55% cap on commission payments “has still not been practically implemented” despite being due to come into force in January 2017, an industry source told International Adviser.
Retail investors in Singapore will receive greater protection following changes to the Securities and Futures Act (SFA).
The Monetary Authority of Singapore (MAS) is looking to introduce an ethics module in exams taken by financial advisers and capital markets intermediaries, in the wake of the 1MDB scandal.
Lombard International, the global wealth structuring solutions provider, has been granted a Financial Adviser’s licence by the Monetary Authority of Singapore (Mas).
A former senior BSI Bank vice president was jailed on Friday for 18 weeks by a Singapore court, for forgery and failure to disclose suspicious transactions as part of the investigations into the 1Malaysia Development Bhd (1MDB) money laundering scandal.
