US economy not headed for ‘massive slowdown,' portfolio manager says

US consumers sitting on a ‘ton’ of cash: Portfolio manager Federated Hermes portfolio manager Steve Chiavarone argues the U.S. economy is not headed for a ‘massive slowdown’ because consumers are sitting on a ‘ton’ of cash and are ready to spend it. The U.S. economy is not at risk of a recession, or a "massive… Continue reading US economy not headed for ‘massive slowdown,' portfolio manager says

Singapore Regulator Puts Binance.com on Investor Alert List

The regulatory woes of Binance are far from over as the Monetary Authority of Singapore (MAS) has become the latest regulator to flag the crypto exchange by placing Binance.com on the Investor Alert List. The list added binance.com on Thursday but did not provide any additional details on the inclusion of the crypto exchange. In… Continue reading Singapore Regulator Puts Binance.com on Investor Alert List

Crypto exchange gets Singapore nod on digital token services

(BLOOMBERG) – The Monetary Authority of Singapore has granted an “in-principle approval” under the Payment Services Act to cryptocurrency exchange Independent Reserve, allowing it to operate as a regulated provider for Digital Payment Token services. It’s one of the first virtual asset service providers to obtain an in-principle approval letter for a Major Payment Institution… Continue reading Crypto exchange gets Singapore nod on digital token services

Singapore's central bank reprimands insurers for regulatory violations

SINGAPORE –  Four financial institutions were reprimanded by the Monetary Authority of Singapore (MAS) for breaching rules over the sale of investment products and commission payments. AIA Financial Advisers (AIA FA), Prudential Assurance Company Singapore (Prudential), and Aviva, along with its wholly owned subsidiary Aviva Financial Advisers (Aviva FA), were found to have breached risk… Continue reading Singapore's central bank reprimands insurers for regulatory violations

MAS appoints finance minister Lawrence Wong as deputy chair of its board

SINGAPORE – Finance Minister Lawrence Wong has been appointed deputy chairman of the central bank’s board of directors, the Monetary Authority of Singapore (MAS) said on Friday (May 28). Mr Wong will serve as a member of the MAS board for a term of three years from June 1, 2021, to May 31, 2024. He… Continue reading MAS appoints finance minister Lawrence Wong as deputy chair of its board

'Debt holiday' loans a fifth of total approved under programme: MAS

SINGAPORE – Loans on “debt holiday” made up about a fifth of those approved under an industrywide relief programme as at the end of February. The loans amounted to more than $3.8 billion in loan principal, said the Monetary Authority of Singapore (MAS). Small and medium-sized enterprises (SMEs) still deferring loan repayments were mostly from… Continue reading 'Debt holiday' loans a fifth of total approved under programme: MAS

MAS bans four individuals over scheme to manipulate Koyo shares

SINGAPORE (THE BUSINESS TIMES) – The Monetary Authority of Singapore (MAS) on Wednesday (March 3) issued prohibition orders ranging from four to 10 years against three former remisiers and one former insurance agent. The four individuals were among eight charged with offences related to a scheme to commit false trading in shares of Catalist-listed Koyo… Continue reading MAS bans four individuals over scheme to manipulate Koyo shares

Jack Ma’s Ant Group files $30B IPO in Hong Kong and Shanghai

Ant Group, the financial affiliate of China’s e-commerce giant Alibaba, has filed an Initial Public Offering, or IPO, in Hong Kong and Shanghai. Managed by Alibaba co-founder Jack Ma, Ant Group is targeting a valuation of about $226 billion, based on a target IPO raise of nearly $30 billion, people familiar with the matter told… Continue reading Jack Ma’s Ant Group files $30B IPO in Hong Kong and Shanghai

Bill Clinton receives neck massage from Jeffrey Epstein victim

The President and the Epstein victim: Bill Clinton leans back and smiles while receiving neck massage from Chauntae Davis, 22, in never-before-seen photos during trip on pedophile’s plane to Africa in 2002 Bill Clinton is seen enjoying a neck massage from a Jeffrey Epstein victim in never-before-seen photographs obtained exclusively by DailyMail.com The pictures emerged… Continue reading Bill Clinton receives neck massage from Jeffrey Epstein victim

Singapore GDP Expands More Than Estimated In Q3

The Singapore economy expanded more than estimated in the third quarter as the manufacturing sector contracted at a slower pace on the back of strong biomedical manufacturing. Gross domestic product grew 0.5 percent on a year-on-year basis in the third quarter, slightly faster than the 0.2 percent growth in the previous quarter and the advance… Continue reading Singapore GDP Expands More Than Estimated In Q3

Singapore’s MAS Collaborates with JP Morgan for Blockchain-Based Multi-Currency Payments

Singapore’s central bank – Monetary Authority of Singapore (MAS) – has recently joined hands with Wall Street giant JP Morgan and Temasek. The partnership aims to build a blockchain-based prototype for cross-border multi-currency payments. The announcement comes just a time when global banking institutions are exploring blockchain and digital currency payments. MAS also said that… Continue reading Singapore’s MAS Collaborates with JP Morgan for Blockchain-Based Multi-Currency Payments

Digital Securities Firm Propine Enters MAS Fintech Sandbox

The Monetary Authority of Singapore’s (MAS) on Friday has admitted digital securities startup Propine in its fintech regulatory sandbox and also granted a conditional license for operations, The Business Times reported. Under the regulatory sandbox, a faster option for eligible firms to test innovative financial products and services in the market for certain regulated activities… Continue reading Digital Securities Firm Propine Enters MAS Fintech Sandbox

Singapore chosen by Bank for International Settlements for innovation hub centre

SINGAPORE – The Bank for International Settlements (BIS), the global bank for central banks, will establish an innovation hub centre in Singapore in a move that Singapore’s central bank said reflects the Republic’s position as a leading international fintech centre. BIS’s Innovation Hub will span multiple locations. It will first set up centres in Basel,… Continue reading Singapore chosen by Bank for International Settlements for innovation hub centre

Regulations Round-Up: MAS Official Says Tokens Aren't Securities, SEC on Bookkeeping Obligations

In recent regulatory news, an official representing the Monetary Authority of Singapore (MAS) has stated that no existing crypto tokens meet the regulator’s definition of a security offering; the chief accountant of the United States Securities and Exchange Commission (SEC) has emphasized the “fundamental” bookkeeping responsibilities of firms operating with cryptocurrencies; and the head of… Continue reading Regulations Round-Up: MAS Official Says Tokens Aren't Securities, SEC on Bookkeeping Obligations

MAS, SGX & Partners to explore DvP Settlement Across Blockchain Platforms

The Monetary Authority of Singapore (MAS) and the Singapore Exchange (SGX) announced in a joint statement today that they will be collaborating with Anquan, Deloitte and Nasdaq to develop Delivery versus Payment (DvP) capabilities for the settlement of tokenised assets. DvP is a settlement procedure where securities and money are exchanged simultaneously only if the… Continue reading MAS, SGX & Partners to explore DvP Settlement Across Blockchain Platforms

India and Singapore Pen FinTech Cooperation Deal

The Indian and Singaporean governments announced today that the two countries have established a joint working group (JWG) to strengthen cooperation surrounding FinTech. The Indian Department of Economic Affairs (DEA) and the Monetary Authority of Singapore (MAS) signed a memorandum of understanding (MoU) yesterday that put the JWG into effect. Today’s announcement comes shortly after… Continue reading India and Singapore Pen FinTech Cooperation Deal

MAS to Develop Guidance on AI, Data Analytics Usage

Artificial intelligence (AI) has been seen as a double-edged sword for virtually all industries. This includes the financial services industry, prompting the Monetary Authority of Singapore (MAS) to develop guidance, governing responsible use of AI and data analytics. AI remains a divisive force given its limitless potential and departure from traditional mechanisms or the status… Continue reading MAS to Develop Guidance on AI, Data Analytics Usage