Francis Mok
Partner
Francis is Co-Head of the Financial Services Department at Allen & Gledhill, and Co-Head of the Firm’s Financial Regulatory and Compliance Practice. He specialises in regulatory issues, in particular, financial services and commodities regulations.
He regularly advises banks, securities, futures and derivatives dealers, exchanges and clearing houses, insurers, fund managers, fintech firms and payment services providers. His expertise also includes the structuring and documentation of derivatives transactions.
Francis is recognised as a Star Individual in both Chambers Global and Chambers Asia-Pacific for Banking & Finance: Regulatory. Chambers Asia-Pacific quotes an interviewee as saying: “He has the greatest reputation as a lawyer that I have ever seen; if you need advice, you start with Francis and then, if you have to, you look at other options.” Another client insists: “He is the first reliable port of call whether it's new or existing regulations. He is in a tier of his own, first among his peers, and his knowledge is always helpful.”
Francis is also ranked Band 1 in Chambers Asia-Pacific for Capital Markets: Securitisation & Derivatives and is lauded by a client as “the leading authority on Singapore regulatory matters and derivatives”. He is listed as a Leading Individual in The Legal 500 Asia Pacific for Financial Services Regulatory and for Capital Markets: Structured Finance, Derivatives and Securitisation. He is listed as a Global Elite Thought Leader for Banking - Regulatory by Who’s Who Legal.
Francis graduated from the National University of Singapore with an LL.B. (Hons) degree (First Class) in 1996. He was called to the Singapore Bar in 1997 and joined Allen & Gledhill in 1998.
Publications
- Protection from Scams Bill introduced to empower Police to issue restriction orders to banks to restrict banking transactions of individuals
- Anti-Money Laundering and Other Matters Act 2024 enhancing AML/CFT regime partially in force
- SGX revises limit on clearing members’ liability for multiple defaults
- MAS issues consultation paper on capital treatment for structured products and infrastructure investments for insurers
- MAS issues Circular on Audit of AML/CFT Policies, Procedures and Controls
- Shared Responsibility Framework for FIs, Telcos, and consumers for phishing scams and revisions to E-Payments User Protection Guidelines to come into effect on 16 December 2024
- MAS issues response to feedback received on proposed framework for single family offices
- Singapore publishes National Anti-Money Laundering Strategy
- MAS issues revised guidelines on provision of consumer protection safeguards by digital payment token service providers
- MAS establishes international advisory panel for cyber and technology resilience
- MAS consults on proposed amendments to Financial Services and Markets (Resolution of Financial Institutions) Regulations 2024
- MAS consults on proposed regulatory approach, regulations, notices, and guidelines for digital token service providers issued under Financial Services and Markets Act 2022
- MAS consults on new guidelines to MAS Notice 134 on Recovery and Resolution Planning
- Inter-Ministerial Committee publishes recommendations to strengthen Singapore’s anti-money laundering framework
- Financial Institutions (Miscellaneous Amendments) Act 2024 to harmonise and enhance MAS’ investigative and supervisory powers partially in force
- MHA consults on proposed Protection from Scams Bill empowering Police to issue restriction orders to banks to restrict banking transactions of scam targets
- Provisions in Financial Services and Markets Act 2022 on prohibition orders in operation
- MAS issues response to feedback on proposed amendments to appeals regulations
- MAS consults on proposed amendments to notices and guidelines to enhance pre- and post-transaction safeguards for retail clients
- MAS issues circular on establishing sources of wealth of customers
- MAS commits up to S$100 million to support quantum and AI capabilities in financial sector
- MAS responds to feedback on proposals to refine tier structure requirements and introduce new remuneration requirements for financial advisory industry
- MAS issues revised Guidelines on Licensing for Payment Service Providers
- Singapore publishes updated ML/TF risk assessments, asset recovery and CFT national strategies
- MAS releases Sustainability Report 2023/2024 setting out strategy on climate resilience and environmental sustainability
- Financial Regulatory Review: Key developments in Singapore - H1 2024
- Changes to OTC derivatives reporting regime under Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013 to adopt CPMI-IOSCO technical guidance to take effect on 21 October 2024
- MAS issues information paper on data governance and management practices for banks and finance companies
- MAS expands application of fair dealing guidelines to all financial institutions and all products and services
- Implementation of Financial Services and Markets Act 2022 in phases with new provisions on technology risk management in force
- Lexology In-Depth: Banking Regulation (15th Ed, 2024) - Singapore
- Financial Services and Markets (Amendment) Act 2023 establishing platform to facilitate sharing customer information among FIs to combat money laundering and terrorism financing in force
- MAS seeks comments on proposed Notice on prevention of money laundering and countering the financing of terrorism for Singapore organised market operators
- MAS publishes revised Framework for Impact and Risk Assessment of Financial Institutions
- SGX Group proposes to refine cap on clearing members’ liability for multiple defaults
- MAS issues response to feedback on proposed amendments to Insurance Act 1966 and regulations on intermediaries
- The International Comparative Legal Guide to Public Investment Funds 2024 (7th Ed) - Singapore
- MAS expands scope of regulated payment services, amends ongoing compliance requirements, and introduces user protection requirements for DPT service providers under Payment Services Act 2019
- MAS issues response to feedback from consultation on repeal of regulatory regime for registered fund management companies
- MAS publishes advisory on addressing cybersecurity risks associated with quantum
- Parliament passes Bill to harmonise and enhance MAS’ investigative and supervisory powers across various Acts
- MAS proposes to simplify requirements and facilitate access to simple and cost-effective insurance products
- MAS launches MAS-Tx for licensed insurers
- MAS launches Singapore Sustainable Finance Association
- MAS issues notices to banks and merchant banks on management of outsourced relevant services
- MAS to require financial institutions to conduct and respond to reference checks
- MAS issues revised Guidelines on Risk Management Practices for Insurance Business
- MAS issues notice on recovery and resolution planning for insurers
- Financial Regulatory Review: Key developments in Singapore - H2 2023
- Bill introduced to enhance investigative, supervisory and other powers of MAS across various Acts
- MAS raises stock cap and flow cap on personal e-wallets
- MAS consults on enhancements to Policy Owners’ Protection Scheme
- MAS consults on proposed amendments to capital framework for approved exchanges and approved clearing houses
- MAS launches world’s first multi-sector transition taxonomy
- MAS consults on regulations relating to information sharing scheme for prescribed financial institutions
- MAS to strengthen regulatory measures for digital payment token services
- MAS revises FAQs on Disclosure of Interests to provide guidance on determining date of acquisition of or change in interests under Part 7 of Securities and Futures Act 2001
- MAS issues preliminary response to feedback on proposed changes to complex products regime, to launch further consultation in H1 2024
- MAS and UNDP launch Universal Trusted Credentials initiative to improve MSMEs’ access to funding
- MAS announced new AI-powered system to support sustainable finance in real estate sector
- MAS announces new AI-powered system to support sustainable finance in real estate sector
- Consultations on proposed shared responsibility framework for FIs, Telcos and consumers for phishing scams and revisions to E-Payments User Protection Guidelines
- MAS consults on streamlined regulatory framework for fund managers
- MAS issues revised MAS Notice 637 on risk based capital adequacy requirements for banks incorporated in Singapore to implement final Basel III reforms
- MAS to increase maximum deposit insurance coverage from S$75,000 to S$100,000 from 1 April 2024
- MAS publishes framework for designating domestic systemically important insurers
- MAS consults on new notice for recovery and resolution planning for insurers and proposed enhancement of resolution powers for insurance sector
- SGX RegCo consults on proposed changes to Futures Trading Rules and other rulebooks
- MAS consults on proposed guidelines for financial institutions on transition planning for a net zero economy
- MAS issues revised notices on competency requirements for representatives under FAA and SFA effective 1 April 2024
- MAS proceeds with exemptions for approved exchanges and recognised market operators that provide certain clearing and settlement services
- MAS responds to feedback from consultation on enhancing pre- and post-transaction safeguards for retail clients
- MAS responds to feedback from consultation on Group Capital Framework for a Designated Financial Holding Company (Licensed Insurer)
- MAS to eliminate corporate cheques by end-2025
- MAS to enable online nomination of insurance beneficiaries
- MAS finalises stablecoin regulatory framework, responds to feedback received on public consultation
- MAS and National Bank of Cambodia set up Financial Transparency Corridor to support SMEs
- Final transition approach for SIBOR loans to SORA announced
- MAS consults on proposed enhancements to deposit insurance scheme in Singapore
- ABS launches Trade Finance Registry to counter trade finance fraud
- MAS and IMDA publish Guidelines on Participation in the Singapore Quick Response Code Scheme and issue response to feedback received from consultation on proposals to strengthen participation in SGQR
- MAS-led industry consortium releases Veritas Toolkit version 2.0
- MAS publishes whitepaper proposing common protocol for use of digital money
- MAS proposes framework for digital asset networks
- MAS issues response to feedback received from public consultation on proposed amendments to limits on personal payment accounts that contain e-money
- MAS releases fourth GFIT taxonomy consultation paper: Coal phase-out criteria under Singapore-Asia Taxonomy
- Financial Regulatory Review: Key developments in Singapore - H1 2023
- MAS publishes investor protection measures for DPT services, issues consultation papers on (1) amendments to Payment Services Regulations, and (2) measures on market integrity in DPT services
- MAS issues circular on implementation timeline for the final Basel III reforms in Singapore
- SGX implements refinements to CDP margin and clearing fund frameworks
- MAS to set expectations on credible transition planning by financial institutions
- MAS responds to feedback on proposed changes to OTC derivatives reporting regime under Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013
- MAS launches Finance for Net Zero Action Plan
- MAS consults on amendments to regulations and notices to operationalise Payment Services (Amendment) Act 2021
- Bill passed to establish platform for financial institutions to share information on customers to combat money laundering and terrorism financing
- The Banking Regulation Review (14th Ed, 2023) - Singapore
- MAS proposes enhanced safeguards for prospecting and marketing of financial products
- MAS issues circular to FIs on addressing risks that arise from theft and misuse of individual’s personal information
- SIBOR to SORA transition commences: Consultation on setting of adjustment spreads to convert legacy loans referencing SIBOR to a SORA reference
- Bill introduced to establish platform for financial institutions to share information on customers to combat money laundering and terrorism financing
- Green Finance Industry Taskforce launches third consultation on green and transition taxonomy
- MAS issues circular on implementation of final Basel III reforms in Singapore
- MAS issues revised notices on residential property loans fact sheets
- Financial Regulatory Review: Key developments in Singapore - H2 2022
- MAS consults on revisions to guidelines on implementing fair dealing outcomes to customers
- SGFinDex enhanced with information on insurance policies
- MAS consults on group capital framework for designated financial holding company with a subsidiary that is a licensed insurer
- SGX RegCo consults on proposed refinements to CDP margin and clearing fund frameworks
- MAS’ Cyber Security Advisory Panel provides key insights on addressing new financial sector cyber risks
- MOF and MAS launch process to digitalise banker’s guarantees and insurance bonds
- MAS issues consultation paper on eliminating centrally cleared corporate cheques by 2025
- MAS consults on proposed framework for systemically important insurers in Singapore
- MAS consults on amendments to Insurance Act 1966 and Insurance (Intermediaries) Regulations to take into account regulatory and market developments
- MAS consults on measures to reduce risks to consumers from cryptocurrency trading and enhance standards of stablecoin-related activities
- New code of conduct for Buy Now, Pay Later service providers sets out best practices to protect consumers
- Amendments to notices on enterprise risk management, investment and public disclosure requirements for insurers to take effect on 1 January 2023
- IMDA and MAS seek feedback on proposals to strengthen participation in SGQR
- MAS launches ESG Impact Hub to encourage growth of ESG ecosystem
- Singapore announces five-pronged strategy to counter terrorism financing
- MAS consults on proposed amendments to limits on personal payment accounts that contain e-money
- MAS launches Financial Services Industry Transformation Map 2025
- MAS issues circular on enhancing anti-money laundering and countering the financing of terrorism controls in the VCC sector
- MAS issues information paper on operational risk management of third party arrangements
- MAS releases Sustainability Report 2021/2022 highlighting importance of transition finance
- MAS issues circular on disclosure and reporting guidelines for retail ESG funds effective from 2023
- MAS consults on proposed exemptions for approved exchanges and recognised market operators that provide certain clearing and settlement services
- ABS and Steering Committee for SOR & SIBOR Transition to SORA finalise key settings of MAS Recommended Rate
- Financial Regulatory Review: Key developments in Singapore - H1 2022
- Financial Regulatory Review: Key developments in Singapore - H1 2022
- MAS regulatory framework for financial holding companies in force
- ABS launches industry standard template for banks to engage corporate clients on environmental risk issues
- MAS issues information papers on environmental risk management for banks, asset managers and insurers
- MAS issues revised Business Continuity Management Guidelines for FIs
- The Banking Regulation Review (13th Ed, 2022)
- MAS, Steering Committee for SOR & SIBOR Transition to SORA launch consultation on adjustment spreads that will apply to legacy SOR business loans and derivatives
- Green Finance Industry Taskforce consults on second version of green and transition taxonomy
- MAS seeks comments on revised Notices on reporting of misconduct of representatives and broking staff
- MAS seeks comments on draft public disclosure requirements for regulatory capital for Singapore-incorporated banks
- The International Comparative Legal Guide to Public Investment Funds 2022
- Financial Services and Markets Bill passed to enhance MAS’ regulatory and enforcement framework across the financial sector
- Singapore implements export control measures and financial measures in relation to Russia
- MAS issues notice on capital requirements for recognised market operators formed or incorporated in Singapore
- MAS issues new AML/CFT notice for precious stones and precious metals activities and updates existing AML/CFT notices
- Singapore outlines sanctions and restrictions against Russia in response to invasion of Ukraine
- MAS issues circular on non-face-to-face customer due diligence measures for financial institutions
- MAS-led industry consortium publishes assessment methodologies for responsible use of AI by financial institutions
- Financial Services and Markets Bill 2022 introduced in Parliament, explanatory brief and response to feedback issued
- MAS and ABS announce measures to bolster digital banking security
- MAS issues guidelines on the provision of digital payment token services to general public
- Financial Regulatory Review: Key developments in Singapore - H2 2021
- Financial Regulatory Review: Key developments in Singapore - H2 2021
- Revised Edition of Singapore Acts of Parliament
- MAS consults on proposed amendments to notices on residential property loans fact sheet, publishes information paper on residential mortgage pricing and disclosure practices
- MAS issues revised corporate governance guidelines for designated financial holding companies, banks, direct insurers, reinsurers and captive insurers
- MAS proposes changes to complex products regime for retail investors
- MAS implements contractual recognition requirement for certain financial institutions
- SGX amends default management process for clearing members of CDP
- MAS consults on proposed amendments to appeals regulations
- MAS issues second consultation paper and response to feedback on proposed revisions to Guidelines on Business Continuity Management
- MAS implements exemption frameworks for cross-border business arrangements of capital markets intermediaries involving foreign related corporations and foreign offices
- MAS consults on proposed digital platform for FIs to share information to counter money laundering, terrorism financing and proliferation financing
- MAS issues (1) response to feedback from consultation on Proposed Implementation of the Final Basel III Reforms in Singapore - Market Risk Capital and (2) consultation on Draft Standards for Market Risk Capital and Capital Reporting Requirements
- Steering Committee for SOR & SIBOR Transition to SORA publishes updated timelines and recommendations for transition from legacy use of SOR
- MAS proposes to refine tier structure requirements and introduce new remuneration requirements for financial advisory industry
- Financial Regulatory Review: Key developments in Singapore - H1 2021
- Financial Regulatory Review: Key developments in Singapore - H1 2021
- MAS proposes amendments to OTC derivatives reporting regime under Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013
- MAS consults on proposed new AML/CFT Notice for precious stones and precious metals activities and updates to existing AML/CFT Notices
- MAS consults on proposed changes to its investigative and other powers under various Acts
- MAS and financial industry further extend support measures for SMEs in Tier 1 and 2 sectors and individuals, ESG further extends support measures
- Banking Act amended to rationalise banking regulation and enhance prudential oversight
- MAS consults on enhancements to pre- and post-transaction safeguards for retail clients
- Credit Bureau Act 2016 in operation from 31 May 2021; MAS issues Notices for licensed credit bureaus
- MAS releases inaugural Sustainability Report to chart strategy on climate resilience and environmental sustainability
- The Banking Regulation Review (12th Ed, 2021)
- MAS commits S$42 million to spur adoption of technology solutions for risk management and regulatory compliance
- MAS issues (1) consultation paper on proposals to mandate reference checks, and (2) response to public consultation on revisions to misconduct reporting requirements and proposals to mandate reference checks for representatives
- Green Finance Industry Taskforce launches guide for climate-related disclosures and framework for green trade finance
- MAS consults on proposed AML/CFT notices for cross-border business arrangements of capital markets intermediaries under proposed exemption frameworks
- MAS consults on revisions to corporate governance guidelines for designated financial holding companies, banks, direct insurers, reinsurers and captive insurers
- The International Comparative Legal Guide to Public Investment Funds 2021
- LexisPSL Financial Services: International Financial Markets Guide
- MAS issues response to feedback from consultation on proposed implementation of final Basel III reforms on credit risk capital and output floor requirements, consults on draft standards
- Industry Steering Committee announce new timelines to cease issuance of SOR derivatives and SOR-linked financial products
- ABS, MAS publish study on enhancing resilience of future workplace of financial institutions
- Regulations on complaints handling and resolution for financial advisory firms to take effect on 3 January 2022, MAS issues response to feedback from consultation on policy proposal
- MAS issues paper on managing risks of remote working in financial institutions
- MAS consults on proposed exemption framework for cross-border business arrangements of capital markets intermediaries involving foreign offices
- Green Finance Industry Taskforce consults on taxonomy and launches environmental risk management handbook to support green finance
- Steering Committee for SOR & SIBOR Transition to SORA announces further measures to boost SORA transition
- MAS proposes revisions to enterprise risk management, investment and public disclosure requirements for insurers
- MAS revises Technology Risk Management Guidelines to combat heightened cyber risks
- MAS consults on draft standards for operational risk capital and leverage ratio requirements for Singapore-incorporated banks and issues response to feedback received on proposed implementation of final Basel III reforms
- MAS seeks feedback on proposed Notices to Banks and Merchant Banks on Management of Outsourced Relevant Services
- Financial Regulatory Review H2 2020: Key Singapore financial regulatory developments
- Financial Regulatory Review H2 2020: Key Singapore financial regulatory developments
- Payment Services (Amendment) Bill passed in Parliament to mitigate money laundering and terrorist financing risks and to impose measures on digital payment token service providers
- MAS consults on proposed amendments to regulations, notices and guidelines arising from Banking (Amendment) Act 2020 and other changes
- MAS issues guidelines on environmental risk management for banks, insurers and asset managers
- SGX consults on default management process
- Industry Steering Committee announces timelines to cease issuance of SOR-linked financial products, publishes market guidance to support transition to SORA
- MAS steps up enforcement actions against market abuse and financial misconduct
- Bill introduced to amend Payment Services Act 2019 to address money laundering and terrorist financing risks posed by virtual asset service providers
- MAS seeks comments on requirements to strengthen FI’s non-face-to-face identity verification process
- MAS consults on proposed regulations and notices for licensed credit bureaus and approved members
- MAS consults on proposed amendments to capital requirements for locally incorporated recognised market operators
- Covid-19: MAS and financial industry extend loan repayment support for SMEs and individuals, ESG extends grants and financial support measures
- Banking Act amended to formalise supervisory requirements and strengthen regulation of banks and credit card and charge card licensees
- Steering Committee for SOR Transition to SORA outlines role of fallback rate arrangements for SOR derivatives
- MAS enhances access to liquidity facilities to strengthen resilience of banking sector
- MAS issues guidance paper on effective AML/CFT controls in private banking
- MAS seeks comments on draft notices on competency requirements for representatives conducting regulated activities under FAA and SFA
- MAS issues Notices and Guidelines on Best Execution requirements
- MAS issues guidelines on individual accountability and conduct to strengthen culture of responsibility and ethical behaviour in financial industry
- MAS issues circular on good practices for disclosure of actively managed funds
- MAS enhances Significantly Rooted Foreign Bank Framework
- MAS issues information paper on enhancing robustness of enterprise-wide risk assessment on money laundering and terrorism financing
- MAS commits S$250 million to accelerate innovation and technology adoption in financial sector
- MAS consults on new omnibus Act for financial sector
- New Insolvency, Restructuring and Dissolution Act 2018 effective from 30 July 2020
- MAS issues guidance paper on strengthening capital markets intermediaries’ oversight over AML/CFT outsourcing arrangements
- Financial Regulatory Review H1 2020: Key Singapore financial regulatory developments
- MAS consults on environmental risk management guidelines for financial institutions
- The Banking Regulation Review (11th Ed, 2020)
- MAS responds to feedback on proposals to revise current exemption framework for cross-border arrangements with foreign related corporations
- Reporting of foreign exchange, equity and commodity derivatives contracts by finance companies and certain bank subsidiaries, insurers and capital markets services licence holders, and significant derivatives holders deferred to 1 October 2021
- MAS allows payment token derivatives to be traded on approved exchanges from 18 May 2020
- Covid-19 financial support measures for financial institutions, SMEs and individuals
- MAS and ESMA sign MOU on Singapore’s financial benchmarks
- MinLaw consults on proposed prescribed eligible financial contracts to be exempted from restriction on operation of ipso facto clauses under the Insolvency, Restructuring and Dissolution Act
- The International Comparative Legal Guide to Public Investment Funds 2020
- MAS adjusts selected regulatory requirements and supervisory programmes to allow FIs to focus on Covid-19 related issues
- MAS clarifies application of LTV and TDSR rules following financial industry measures to support individuals and SMEs affected by Covid-19 pandemic
- MAS issues advisory to financial institutions on adopting safe distancing measures amid Covid-19 situation
- Bill to amend Banking Act passed to rationalise banking regulation and enhance prudential oversight
- MAS issues licensing guidelines and specimen forms in relation to Payment Services Act
- MAS consults on proposed amendments to Payment Services Act 2019 and scope of e-money and digital payment tokens
- Financial Regulatory Review H1 2020: Key Singapore financial regulatory developments
- MAS issues guidance to enhance banks’ operational controls in payments and electronic funds transfer operations
- MAS consults on proposed changes to regulate payment token derivatives traded on approved exchanges
- MAS issues Compliance Toolkit for approvals, notifications and other regulatory submissions
- Payment Services Act 2019 providing new framework for payment systems and payment service providers in force on 28 January 2020
- MAS consults on proposed changes to regulate payment token derivatives traded on approved exchanges
- Bill to amend Banking Act introduced to rationalise banking regulation and enhance prudential oversight
- MAS revises Guidelines on the Regulation of Short Selling
- MAS issues FAQs relating to Payment Services Act
- Getting the Deal Through: Private Banking & Wealth Management 2020
- MAS consults on revised biannual report and implementation timeline for proposed complaints handling and resolution regulations
- MAS establishes Steering Committee to drive interest rate benchmark transition from SGD Swap Offer Rate (SOR) to Singapore Overnight Rate Average (SORA)
- MAS accepting applications for Singapore’s first digital bank licences open to non-bank players
- MAS issues Notice 656 on “Exposures to Single Counterparty Groups for Banks Incorporated in Singapore”
- MAS assesses banks’ governance, policies and procedures in “Thematic Review of Collateral Management Standards and Practices of Corporate Lending Business”
- MAS issues revised Guidelines on Margin Requirements for Non-Centrally Cleared OTC Derivatives Contracts
- MAS and SGX RegCo jointly publish “MAS-SGX Trade Surveillance Practice Guide”
- MAS issues new legally binding requirements to raise cybersecurity standards and strengthen cyber resilience of financial sector
- Ratings issued by credit rating agencies in Singapore will continue to be recognised and used in the EU
- MAS issues consultation paper on “Requirements on Controls against Market Abuse”
- MAS launches Sandbox Express for faster market testing of innovative financial services and products
- MAS seeks further comments on scope of application of Guidelines on Individual Accountability and Conduct to financial institutions
- SGX implements enhancements to default management capabilities of SGX-DC and CDP on 17 July 2019
- SGX consults on proposed enhancements to securities trading auction mechanism
- MAS issues Guidelines on Provision of Financial Advisory Service
- MAS extends digital bank licences to non-bank players
- MAS issues guidance paper on “Effective Practices to Detect and Mitigate the Risk from Misuse of Legal Persons”
- MAS seeks feedback on notices and guidelines to be issued under Payment Services Act 2019
- MAS proposes to regulate and license merchant banks under Banking Act
- MAS issues revised MAS Notice 637 on “Risk Based Capital Adequacy Requirements for Banks Incorporated in Singapore” effective 30 June 2019
- MAS and ABS announce establishment of new Culture and Conduct Steering Group to promote sound culture and raise conduct standards among banks
- SGX introduces “trade at close” functionality from 3 June 2019
- MAS seeks comments on AML/CFT notices for payment services providers
- The Banking Regulation Review (10th Ed, 2019): Singapore chapter
- MAS issues consultation paper on “Proposed Implementation of the Final Basel III Reforms in Singapore”
- SGX to update rules on securities trading and market practices on 3 June 2019
- MAS proposes increase in minimum financial requirement for major payment institutions in Payment Services Regulations
- MAS to implement measures to address risks posed by use of sign-on incentives in recruitment of financial advisory representatives
- MAS issues “Technical Specifications for RBC 2 YE2018 Parallel Run” for insurers
- Mandatory trading obligations apply to specified OTC derivatives contracts executed on or after 1 April 2020
- SGX revises financial and capital requirements on bank and remote clearing and trading members with effect from 22 April 2019
- Legislation for deposit insurance and policy owners protection amended to ensure adequate protection for depositors and policy owners
- MAS proposes revisions to Technology Risk Management Guidelines and Business Continuity Management Guidelines
- MAS issues Response to feedback on proposed enhancements to disclosure requirements for sale of investment-linked products
- MAS proposes revisions to outsourcing regime for banks and merchant banks
- MAS proposes amendments to Banking Act to remove DBU-ACU divide and other changes
- MAS revises implementation date of E-Payments User Protection Guidelines to 30 June 2019
- MAS issues MAS Notice 654 on Recovery and Resolution Planning and corresponding Guidelines
- MAS highlights FATF Guidance for risk-based approach for securities sector and life insurance sector
- Payment Services Bill passed to introduce new licensing regime and unify regulatory framework
- MAS releases FAQs on opt-in regime for accredited investors, extends transition to 7 April 2019
- MAS prescribes conditions for deferring reporting of customer/counterparty information relating to OTC derivatives contracts
- New exemption in Financial Advisers Regulations for entities from ASEAN participating countries providing financial advisory service under approved arrangements
- Exclusions from definition of “collective investment scheme” in SFA effective from 25 December 2018
- MAS issues new “Guidance to Capital Markets Intermediaries on Enhancing AML/CFT Frameworks and Controls”
- MAS revises AML/CFT requirements for money-changing and remittance businesses