singapore - Banking & Finance

Malayan Banking Bhd v Barclays Bank PLC

Banking - Electronic banking - Electronic funds transfer; Contract - Implied contracts; Contract - Illegality and public policy

Date: 12 April 2019; Court: High Court; Citation: [2019] SGHC(I) 4; Source: Singapore Law Watch

Consultation Paper on Proposed Payment Services Regulations

The Payment Services Bill (the Bill) was introduced and passed in Parliament on 19 November 2018 and 14 January 2019 respectively. Under the Payment Services Act 2019 (PS Act), the Monetary Authority of Singapore (MAS) will regulate significant payment systems and the provision of payment services in Singapore. To effect the objectives of the PS Ac ...
Date: 10 April 2019; Type: Consultation Paper; Source: Monetary Authority of Singapore

Financial Advisers (Amendment No. 3) Regulations 2019

This is to notify that except for Regulation 5(c), the rest is deemed to have come into operation on 8 October 2018 and Regulation 5(c) is deemed to have come into operation on 8 January 2019.
Date: 05 April 2019; Type: Federal Subsidiary Legislation; Citation: No. S 294; Source: Singapore Statutes Online

Appointments to the Accounting and Corporate Regulatory Authority Board

This is to notify that the Minister for Finance has appointed of a new member and re-appointed five members to the Accounting and Corporate Regulatory Authority Board. The appointments will take effect from 1 April 2019.
Date: 26 March 2019; Type: Press Release; Source: Ministry of Finance

Banking (Exemption from Sections 15A and 15B) (Amendment) Order 2019

This Order is deemed to have come into operation on 1 October 2018.
Date: 21 March 2019; Type: Federal Subsidiary Legislation; Citation: No. S 145; Source: Singapore Statutes Online

Moneylenders (Amendment) Act 2018 (Commencement) Notification 2019

This is to notify that sections 3(1)(c) and (2), 4(1)(a) and (2), 5(a), 6, 7(2), 9(2), 10(2) and (3), 17, 18(2) and 20(6) of the Moneylenders (Amendment) Act 2018 come into operation on 29 March 2019.
Date: 20 March 2019; Type: Federal Subsidiary Legislation; Citation: No. S 141; Source: Singapore Statutes Online

Moneylenders (Amendment) Rules 2019

These Rules come into operation on 29 March 2019.
Date: 20 March 2019; Type: Federal Subsidiary Legislation; Citation: No. S 142; Source: Singapore Statutes Online

Moneylenders (Composition of Offences) (Amendment) Rules 2019

These Rules come into operation on 29 March 2019.
Date: 20 March 2019; Type: Federal Subsidiary Legislation; Citation: No. S 144; Source: Singapore Statutes Online

Moneylenders (Prevention of Money Laundering and Financing of Terrorism) (Amendment) Rules 2019

These Rules come into operation on 29 March 2019.
Date: 20 March 2019; Type: Federal Subsidiary Legislation; Citation: No. S 143; Source: Singapore Statutes Online

Currency (Amendment) Act 2019 (Commencement) Notification 2019

The Currency (Amendment) Act 2019 comes into operation on 14 March 2019.
Date: 13 March 2019; Type: Federal Subsidiary Legislation; Citation: No. S 131; Source: Singapore Statutes Online

Securities and Futures (Offers of Investments) (Securities and Securities-based Derivatives Contracts) (Amendment) Regulations 2019

These Regulations come into operation on 14 March 2019.
Date: 13 March 2019; Type: Federal Subsidiary Legislation; Citation: No. S 132; Source: Singapore Statutes Online

Securities and Futures (Trading of Derivatives Contracts) Regulations 2019

These Regulations come into operation on 14 March 2019.
Date: 13 March 2019; Type: Federal Subsidiary Legislation; Citation: No. S 134; Source: Singapore Statutes Online

Securities and Futures (Trading Venues for Derivatives Contracts in the United States of America) Regulations 2019

These Regulations come into operation on 14 March 2019.
Date: 13 March 2019; Type: Federal Subsidiary Legislation; Citation: No. S 133; Source: Singapore Statutes Online

MAS Consults on Proposed Enhancements to Technology Risk and Business Continuity Management Guidelines

The Monetary Authority of Singapore (MAS) today released two consultation papers on proposed changes to the Technology Risk Management (TRM) Guidelines and the Business Continuity Management (BCM) Guidelines. The changes will require financial institutions' (FIs) to put in place enhanced measures to strengthen operational resilience. These take int ...
Date: 07 March 2019; Type: Press Release; Source: Monetary Authority of Singapore

Consultation Paper on Proposed Revisions to Guidelines on Business Continuity Management

The Monetary Authority of Singapore (MAS) first issued the Business Continuity Management (BCM) Guidelines in 2003 which were supplemented by additional guidance on pandemic and physical security measures in 2006. MAS proposes changes to the existing Guidelines on BCM in order to strengthen Financial Institutions (FIs). FIs are expected t ...
Date: 07 March 2019; Type: Consultation Paper; Source: Monetary Authority of Singapore

Currency (Amendment) Act 2019

This Act seeks to amend the Currency Act and to make related amendments to the Private Security Industry Act.
Date: 18 February 2019; Type: Federal Amendment Act; Citation: No. 6; Source: Singapore Statutes Online

Consultation Paper on Proposed Amendments to the Banking Act

In addition to the Domestic Banking Unit (DBU)-Asian Currency Unit (ACU) related amendments, Monetary Authority of Singapore (MAS) proposes to amend the Banking Act, aimed at strengthening the licensing and regulation of banks and credit card or charge card licensees, formalising existing supervisory requirements and clarifying other ...
Date: 07 February 2019; Type: Consultation Paper; Source: Monetary Authority of Singapore

Consultation Paper on Outsourcing by Banks and Merchant Banks

The Monetary Authority of Singapore (MAS) seeks comments from banks, merchant banks, and other interested parties on the proposed revisions to the regime governing banks' and merchant banks' outsourcing arrangements, including proposed amendments to the Banking Act. MAS proposes to issue an Outsourcing Notice for Banks and an Outsourcing Notic ...
Date: 07 February 2019; Type: Consultation Paper; Source: Monetary Authority of Singapore

Accounting Standards Act (Amendment of Schedule) Order 2019

This Order comes into operation on 1 April 2019.
Date: 04 February 2019; Type: Federal Subsidiary Legislation; Citation: No. S 80; Source: Singapore Statutes Online

Monograph MAS Approach to Macroprudential Policy

The Monetary Authority of Singapore (MAS) is an integrated financial supervisor responsible for "fostering a sound and reputable financial centre and promoting financial stability" in Singapore. MAS achieves these objectives through microprudential supervision of individual financial institutions and macroprudential oversight of ...
Date: 18 January 2019; Type: Guideline; Source: Monetary Authority of Singapore

INDUSTRY UPDATES

Ex-CJ speaks out against Lawyers' Tendency to seek Postponements

KUALA LUMPUR, Jun 16 (Bernama) - Former Chief Justice Tun Zaki Azmi has spoken out against the tendency by certain defence lawyers to seek postponements of cases being heard in court.

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New Competition Commission already under Fire

Myanmar’s professed commitment to competition reform has come under fire after the government packed the new Competition Commission with bureaucrats serving under a minister.

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INDUSTRY UPDATES

NA Deputies give Opinions on Revised Labour Code

Hanoi, Jun 12 (VNA) - The revised Labour Code will the focus during the sitting of lawmakers on June 12 in the ongoing 7th session of the 14th National Assembly.

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INDUSTRY UPDATES

Ability to pay Taxes Online a Boon for Vietnam’s Import-Export Businesses

Hanoi, Jun 6 (VNS/VNA) - Around 99 percent of import and export tax payments in Ho Chi Minh City are made online, according to the customs department.

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INDUSTRY UPDATES

OWWA joins Urban Poor Caravan

MANILA, Jun 8 (PNA) - The Overseas Workers Welfare Administration (OWWA) will be joining the Presidential Commission for the Urban Poor (PCUP) caravan to inform the public of its programs on overseas employment.

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Palace declares June 24 Holiday in Manila

MANILA, Jun 6 (PNA) - Malacañang has declared June 24 as a special, non-working holiday in the City of Manila in celebration of its 448th founding anniversary.

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INDUSTRY UPDATES

Legal Profession faces inherent Risks not Exclusive to NUPL

MANILA, Jun6 (PNA) - A state lawyer of the Office of the Solicitor General said Thursday the legal profession faces "inherent risks not exclusive to the National Union of People’s Lawyers (NUPL)".

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DOJ forms Panel to probe Jacky Co Case

MANILA, Jun 6 (PNA) - A prosecution panel has been assigned for the preliminary investigation on the complaints filed against alleged Chinese drug lord Jacky Co and others implicated in the smuggling of PHP1.8 billion worth of illegal drugs into the country.

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Myanmar still short of Judges, says Supreme Court

The number of judges in the country is just two thirds of the number required, according the 2018 annual report of the Union Supreme Court.

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INDUSTRY UPDATES

RCI on Judicial Misconduct is what People Want - Dr Mahathir

PUTRAJAYA, Jun 5 (Bernama) - The government agreed to set up a Royal Commission of Inquiry (RCI) on judicial misconduct because this is what the people want, said Prime Minister Tun Dr Mahathir Mohamad.

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CJ stresses Importance of beefing up Legal Education

MANILA, Jun 3 (PNA) - Chief Justice Lucas P. Bersamin emphasized the commitment of his administration to leave no stone unturned in reforming the country's legal education system.

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INDUSTRY UPDATES

Double Pay for Workers on June 5

MANILA, Jun 3 (PNA) - Private sector workers, who will report to duty on Wednesday, June 5, will be paid twice their regular daily wages, the Department of Labor and Employment (DOLE) said Monday.

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INDUSTRY UPDATES

Complaints via Whatsapp: RTD issues More than 200 Notices

KUALA LUMPUR, June 3 (Bernama) - More than 200 notices have been issued by the Road Transport Department (RTD) as result of consumer complaints via the Whatsapp application during the three days enforcement operation, in conjunction with Adilfitri, which began on May 29.

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INDUSTRY UPDATES

Online Trader benefits from Industrial Revolution 4.0

KOTA BHARU, Jun 2 (Bernama) - The Industry Revolution 4.0, which is occurring all over the world, has given huge benefit to online traders in marketing their products to consumers.

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INDUSTRY UPDATES

Vietnam attends ASEAN Plus Three, EAS SOMs

Bangkok, May 30 (VNA) - Deputy Foreign Minister Nguyen Quoc Dung, who is head of the country’s SOM ASEAN, attended the ASEAN Plus Three SOM and East Asia Summit (EAS) SOM, which were held within the framework of the ASEAN Senior Officials' Meeting (SOM) in Bangkok on May 30.

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INDUSTRY UPDATES

JBC sets Public Interviews for SC Aspirants

MANILA, May 31 (PNA) - The Judicial and Bar Council (JBC) has released the schedule of the public panel interview of hopefuls vying for a Supreme Court (SC) post, to be vacated by Associate Justice Mariano del Castillo who will compulsorily retire on July 29.

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INDUSTRY UPDATES

Mohd Roze Shaari is New Intelligence/Operations Deputy Director

KUALA LUMPUR, June 1 (Bernama) - Bukit Aman's Criminal Investigation Department (CID) has a new Intelligence/Operations deputy director.

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INDUSTRY UPDATES

Give Mandatory Counselling, Community Service Sessions to Road Bullies - MCPF

KUALA LUMPUR, May 31 (Bernama) - The Malaysian Crime Prevention Foundation (MCPF) has suggested that compulsory counselling and community service sessions be meted out to individuals detained for dangerous driving and road rage.

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