The Monetary Authority of Singapore (MAS) has no rules against hiring ex-offenders for positions in the financial services sector, deputy prime minister Tharman Shanmugaratnam has confirmed.
Representatives from Europe and Asia Pacific’s regulatory bodies met in Singapore on Friday to hold “in depth, closed-door” discussions on financial regulation and collaboration.
The Monetary Authority of Singapore (MAS) has ordered that Falcon Private Bank in Singapore be shut down for serious failures in anti-money laundering (AML) controls and improper conduct by senior management at the Singapore branch, as well as the head office in Switzerland.
Two former bankers for Switzerland’s BSI Bank have been charged by the Singapore police as part of their investigation into 1Malaysia Development Bhd (1MDB).
Fund managers in Singapore saw a 9% increase in assets under management to S$2.6trn ($1.90 trn, £1.4trn, €1.6trn) in 2015, much slower than the 30% recorded the year before.
Indonesia’s government has reassured participants of its tax amnesty programme that they will not be prosecuted for tax evasion after it emerged last week that private banks in Singapore are sharing with police the details of wealthy clients using the programme.
The Monetary Authority of Singapore (Mas) and the Swiss Financial Market Supervisory Authority (Finma) signed a cooperation agreement on Monday to foster greater cooperation on fintech.
Wealthy investors in Singapore may soon be able to choose to be covered by the same protections as retail investors under proposals from the Monetary Authority of Singapore (Mas).
The Monetary Authority of Singapore (Mas) has set up an international technology advisory panel (Itap) to discuss fintech developments around the world and how Singapore can harness new technologies to enhance its financial services industry.
Lapses in anti-money laundering and other scandals have “made a dent” in Singapore’s reputation as a “clear and trusted financial centre”, said Ravi Menon, managing director of the Monetary Authority of Singapore (Mas).
Singapore has announced plans to take action against four major banks, including a Swiss private bank, over their involvement with the scandal-ridden Malaysian sovereign wealth fund 1Malaysia Development Bhd (1MDB).
Singapore’s Ministry of Finance (MOF) has opened a public consultation on the automatic exchange of information (AEOI) in tax matters, known as the Common Reporting Standard.
