January 11, 2023 | Finance
As per the Direction No.1 of 2023 dated 27th February 2023 issued by the Department of Foreign Exchange, Sri Lanka, Authorized Dealers are issued with directions in respect of Special Foreign Currency Accounts for investees to facilitate Current Transactions (SFCA...
November 15, 2022 | Finance
Background On 26 October 2002, the Monetary Authority of Singapore (“MAS”), Singapore’s Financial Services Regulator and Central Bank, issued a Consultation Paper on “Proposed Regulatory Measures for Digital Payment Token Services” (“Consultation Paper”). MAS is of...
November 14, 2022 | Finance
Background The Cybersecurity Agency of Singapore (“the Agency”), which is the government entity charged with protecting Singapore’s Cyberspace environment, has put in place a licensing framework for Cybersecurity Service Providers (“CSPs”) which came into effect on 11...
August 18, 2021 | Finance, Regulatory Updates
Cryptocurrencies and ESG values As the cryptocurrency industry rises in prominence (with Bitcoin and increasingly, Ethereum being 2 of the most popular cryptocurrencies by market value), many Financial Institutions (“FIs”) worldwide have shown interest in virtual...
May 11, 2021 | Finance, Regulatory Updates
On 21 July 2020, the Monetary Authority of Singapore (“MAS”) published a Consultation Paper on a proposed new omnibus Act for the financial sector (the “Omnibus Act”). The consultation period has closed on 20 August 2020. The Omnibus Act will be a standalone...
