Singapore FinTech Festival concludes today after a weeklong line-up of fruitful discussions. On Day 5 of the Singapore FinTech Festival, facilitating trust in data sharing, digital identity, financial and digital inclusion as well as payments interoperability were some of the common themes that ran through the sessions. Some of our key takeaways from the experts: … Continue Reading
Day 4 had a strong international focus at the start of the World Fintech Festival with speakers and specialist forums dealing with market and regulatory developments across the world, including sessions on developments in Australia, Japan, China, Cambodia, India, Nigeria and various Nordic countries. The role of FinTech in facilitating green financing and sustainability remained … Continue Reading
Coinciding with the closing of COP26, green financing, ESG and impact investing were key themes that ran through many of the sessions on Day 3 of the Singapore FinTech Festival. It is clear that as demand for green finance, ESG and impact investing continues to grow, it will be necessary for financial services in the … Continue Reading
On Day 2 of the Singapore FinTech Festival, attendees were invited to an in-depth exploration of key technological pillars of the Web 3.0 ecosystem – distributed ledger technology (DLT), artificial intelligence (AI), the internet of things (IoT), 5G and quantum computing. Through a series of foundational discussions, deep dives, and overviews of key global trends, … Continue Reading
Singapore FinTech Festival is off to a great start with the announcement by Deputy Prime Minister Heng Swee Keat at the Singapore Fintech Festival x Singapore Week of Innovation and Technology 2021 to set aside an additional SGD 180 million for AI research – which could not be more timely. The launch of two national … Continue Reading
The Monetary Authority of Singapore (MAS) issued a consultation paper on 2 July 2021 seeking views on various proposals, including to introduce powers to enable the MAS to impose requirements on certain financial institutions conducting unregulated business. The MAS recognises that some of its regulated entities may be carrying on unregulated activities (e.g. trading bitcoin … Continue Reading
This blog series has been named after the classic children’s categorisation game where one player names an object and the other player has to categorise it as an animal, vegetable or mineral. Whilst simple in concept, the difficulty of the game varies – some things are extremely easy to categorise (such as ‘cat’), whereas others … Continue Reading
This blog series has been named after the classic children’s categorisation game where one player names an object and the other player has to categorise it as an animal, vegetable or mineral. Whilst simple in concept, the difficulty of the game varies – some things are extremely easy to categorise (such as ‘cat’), whereas others … Continue Reading
The Monetary Authority of Singapore (MAS) recently issued a consultation paper setting out its proposed regulatory approach for derivatives contracts that reference payment tokens as underlying assets (Payment Token Derivatives). What is this approach meant to address? A well-regulated market for derivatives – particularly one anchored by institutional investors with sophisticated risk management and investment … Continue Reading
Partners from our global FinTech team flew in from Hong Kong, Vancouver, London, Dallas, Johannesburg and Melbourne to join our Singapore team at the SFF 2019 (Singapore FinTech Festival) 11-13 November. The SFF is the world’s largest annual FinTech conference, bringing together over 45,000 FinTech enthusiasts to explore, collaborate and discuss the future of FinTech. … Continue Reading
The Singapore International Commercial Court has published its first cryptocurrency judgment. In this briefing note we discuss the key novel points arising from the case (B2C2 Ltd v Quoine Pte Ltd [2019] SGHC(l) 3) and consider the implications for digital assets, smart contracts and artificial intelligence.… Continue Reading
Overview: On 10 July 2017, the Singapore Government unveiled its draft Cybersecurity Bill (the Bill) and announced a public consultation to seek views and comments from the industry and members of public. The public consultation runs from 10 July to 3 August 2017. This Bill comes on the back of various moves by the Singapore … Continue Reading
Singapore’s financial regulator, the Monetary Authority of Singapore (MAS), has launched guidelines for its FinTech Regulatory Sandbox, which is now open for applications. The regulatory sandbox is available to financial institutions or any interested firm that wishes to experiment with innovative financial services in a production environment but within a defined space and duration. The … Continue Reading
The Monetary Authority of Singapore has released its new outsourcing guidelines to financial institutions, which apply to existing outsourcings. Financial institutions have until 27 October 2016, to carry out a self-assessment of all existing outsourcing arrangements against the new guidelines. The guidelines also cover the use of cloud services and a revision to the definition … Continue Reading
On 15 September 2015, the Hong Kong Monetary Authority (HKMA) issued a circular to authorised institutions to highlight the management of cyber security risk. Cyber security risk has been in the spotlight for a number of financial services regulators across the globe as an area of heightened risk, given the number of high profile attacks … Continue Reading
A set of Consultation Papers was issued in September 2014 (P018-2014 and P019-2014) by the Monetary Authority of Singapore (MAS). It sets out the proposed Notice on Outsourcing and the revised Guidelines on Outsourcing and will affect all financial institutions (licensed by MAS) who outsource or contract out any of their business process to any … Continue Reading
The main data protection rules under the Singapore Personal Data Protection Act 2012 (PDPA) and the Personal Data Protection Regulations took effect on 2 July 2014, with several Advisory Guidelines issued later in September 2014. The topics covered under the Advisory Guidelines range from (1) Advisory Guidelines covering selected topics such as Analytics and Research, … Continue Reading
