The Monetary Authority of Singapore (Mas) sends a message of zero tolerance towards money laundering as it penalises two Standard Chartered entities for suspicious transfers from Guernsey, according to industry sources.
The Monetary Authority of Singapore has reappointed Ravi Menon as managing director for a further two years, effective from 1 June 2017.
An early response suggests adoption by asset managers will depend on how the new corporate structure is taxed.
The Monetary Authority of Singapore has slapped a ban on an ex-Goldman Sachs banker while Standard Chartered and Coutts have been hit with record fines for their roles in Malaysia’s 1MDB scandal.
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 regulator slams the Zurich-based bank for poor anti-money laundering controls and improper conduct by individuals over 1MDB.
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).
Singapore’s MAS 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).
The Monetary Authority of Singapore (MAS) has announced plans to set up a new department to centralise and strengthen its enforcement capabilities.