The Monetary Authority of Singapore (MAS) is taking aim. Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) are squarely in the regulator’s sights with three recent updates.
MAS’ latest enforcement report (January 2022 and June 2023) detailed $12.96m in civil penalties imposed and $7.88m in financial fines and compositions imposed - the highest since MAS Enforcement Reports began their publication in 2019.
The 2023 Singapore FinTech Festival (SFF2023) brought a hive of activity and excitement to the region. Financial and compliance leaders came in droves to connect, share ideas, and learn about the latest developments across the financial and regulatory landscapes.
It has been a lukewarm first quarter of 2023 for the global Initial Public Offering (IPO) market. Ernst & Young reports that 299 IPOs raised US$21.5b in Q1, representing 8% and 61% drops, respectively, year-over-year (YOY). Interest rate and inflation hikes, banking industry issues, and pessimism throughout the global stock market have made their mark this year.
