MAS
Best Practice | 26 Jul 16
Singapore regulator vows tougher action after 1MDB scandal
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 to act against 4 key banks over 1MDB scandal
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).
Best Practice | 11 Jul 16
Singapore consults on int’l exchange of tax information
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.
Singapore’s financial regulator steps up enforcement
The Monetary Authority of Singapore (MAS) has announced plans to set up a new department to centralise and strengthen its enforcement capabilities.
Singapore regulator orders BSI Bank shut down
In the “worst case of control lapses and gross misconduct seen in the Singapore financial sector” Switzerland-headquartered BSI Bank is to be shut down, with six former and current members of staff referred to the public prosecutor, the first such move by the Monetary Authority of Singapore (MAS) since 1984.