Tag: regulatory

  • MAS strengthens regulatory measures for digital payment token services

    The Monetary Authority of Singapore (MAS) today published its final tranche of responses to feedback received on its proposed regulations for Digital Payment Token (DPT) service providers in Singapore. The consulted proposals detail business conduct and consumer access measures to limit potential consumer harm. It also stipulates minimum technology and cyber risk management requirements for…

  • ZA Bank receives regulatory approval to prepare for US stock trading service launch

    Hong Kong virtual bank ZA Bank today announced that the Hong Kong Securities and Futures Commission (SFC) has lifted the previous conditions on the Bank’s licence registration of Type 1 (dealing in securities) regulated activity under which the Bank shall only carry on business of dealing in collective investment schemes. The Bank plans to roll…

  • HK watchdog fines Lion Futures Limited $2.8M for regulatory breaches

    Hong Kong’s Securities and Futures Commission (SFC) has reprimanded and fined Lion Futures Limited (LFL) $2.8 million for failures in complying with anti-money laundering and counter-terrorist financing (AML/CFT) and other regulatory requirements between May 2017 and July 2019. The SFC’s investigation found that LFL did not conduct any due diligence on the customer supplied systems…