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 2024 Surveillance Benchmarking Survey & Report from 1LoD, co-sponsored by MCO, contains insights from thousands of conversations with surveillance leaders across the financial services industry.
As the report points out, compliance surveillance is a never-ending story. Surveillance for market abuse and employee misconduct will never be done. It’s an iterative and ongoing process.
Managing a financial trading control room involves balancing a wide variety of tasks. To comply with stringent rules and regulations, all deals must be carefully reviewed, the flow of information strictly managed, and an overarching focus on preventing conflicts of interest must be a constant. Without effective processes, a single deal can move slowly through the pipeline—and those delays aren’t beneficial for the firm’s bottom line.
The Financial Institutions (Miscellaneous Amendments) Bill, or FIMA Bill, aims to enhance the abilities of the Monetary Authority of Singapore (MAS) to enforce its regulatory regime and supervise capital markets Financial Institutions (FIs).
The 2024 U.S. Presidential election is grabbing the headlines right now. However, 469 other federal elections, 13 gubernatorial elections, and countless contests at the state and local levels will be decided in November. With so many candidates and campaigns, the risk of pay-to-play and political donation rule violations, even unintentional ones, is high.
