Featured Product

    MAS Lifts Dividend Restrictions for Banks, to Hold Fintech Festival

    August 04, 2021

    The Monetary Authority of Singapore (MAS) announced that dividend restrictions on locally incorporated banks and finance companies headquartered in Singapore will not be extended, owing to the improved global economic outlook. Also, MAS and the Singapore Fintech Association (SFA) jointly announced the launch of the 2021 Singapore FinTech Festival Global FinTech Awards as well as the dates when the Singapore FinTech Festival will be held. The theme for this year's Festival is "Web 3.0" and the Festival will take place from November 08, 2021 to November 12, 2021.

    The Singapore Fintech Festival 2021, which has been organized in partnership with the Association of Banks in Singapore (ABS) and in collaboration with Constellar Exhibitions, will bring together global experts to discuss how Web 3.0 and key technological advances will power the future of financial services. This platform will examine three key structural drivers that could reshape financial services in the coming decade:

    • Reconfiguration of the delivery of financial products and services through embedded finance, decentralized finance, and digital currencies
    • Integration of environment, social, and governance (ESG) factors into the core design of financial services
    • Pervasive adoption of foundational digital infrastructure (Digital Identity, Trusted Data Exchange, Interoperable Payment Systems and Consent Systems)

    MAS also announced the incorporation of Elevandi, a company limited by guarantee to spearhead future growth of the Festival and lead a series of new initiatives to provide year-round engagement with the global fintech community. Elevandi will build a global knowledge and collaboration platform to bring together the global financial and fintech community to address pain points in the workings of the financial system and harness technology and innovation in finance. Elevandi will have an international Board of Directors to oversee its mission and work; the Board will comprise members from the public sector, financial services sector, and experienced global industry leaders. To drive the next phase of growth, Elevandi will expand its program of activities beyond the Festival to a broader range of engagement platforms to drive greater collaboration with the global fintech community. Elevandi’s activities will continue to be run in partnership with ABS and in collaboration with Constellar Exhibitions.

     

    Keywords: Asia Pacific, Singapore, Banking, Fintech, Singapore Fintech Festival, Elevandi, Dividend Distribution, ESG, Web 3.0, API, Regtech, MAS

    Related Articles
    News

    APRA Issues Interim Update to Policy Priorities for 2021 and Beyond

    In a letter addressed to the industry, the Australian Prudential Regulation Authority (APRA) set out an updated schedule of policy priorities for the banking, insurance, and superannuation industries.

    September 24, 2021 WebPage Regulatory News
    News

    EC Adopts Solvency II and Resolution Rules Package for Insurers

    The European Commission (EC) adopted a comprehensive review package of Solvency II rules in the European Union.

    September 22, 2021 WebPage Regulatory News
    News

    OCC Issues Booklets on Regulatory Reporting and Earnings

    The Office of the Comptroller of the Currency (OCC) issued Versions 1.0 of the "Earnings" and "Regulatory Reporting" booklets of the Comptroller's Handbook.

    September 22, 2021 WebPage Regulatory News
    News

    ECB Sets Out Results of Economy-Wide Climate Stress Tests

    The European Central Bank (ECB) published results of its economy-wide climate stress test, which aimed to assess the resilience of non-financial corporates and euro area banks to climate risks.

    September 22, 2021 WebPage Regulatory News
    News

    EBA Examines Implications of Increasing Use of Digital Platforms in EU

    The European Banking Authority (EBA) published a report on the use of digital platforms in the banking and payments sector in European Union.

    September 21, 2021 WebPage Regulatory News
    News

    HKMA Issues Updates on Policy Measures Intended to Ease COVID Impact

    The Hong Kong Monetary Authority (HKMA) published updates on the policy measures that were announced in context of the ongoing pandemic.

    September 21, 2021 WebPage Regulatory News
    News

    ISDA Responds to BCBS Proposal on Treatment of Cryptoasset Exposures

    The International Swaps and Derivatives Association (ISDA), along with several other associations, submitted a joint response to the Basel Committee on Banking Supervision (BCBS) consultation on preliminary proposals for the prudential treatment of cryptoasset exposures.

    September 21, 2021 WebPage Regulatory News
    News

    BIS Quarterly Review Discusses Developments in Fintech and ESG Space

    BIS published the September issue of the Quarterly Review, which contains special features that analyze the rapid rise in equity funding for financial technology firms, the effectiveness of policy measures in response to pandemic, and the evolution of international banking.

    September 20, 2021 WebPage Regulatory News
    News

    BCBS to Consult on Supervisory Practices for Climate Risks by Year-End

    The Basel Committee for Banking Supervision (BCBS) met in September 2021 and reviewed climate-related financial risks, discussed impact of digitalization, and welcomed efforts by the International Financial Reporting Standards (IFRS) Foundation to develop a common set of sustainability reporting standards

    September 20, 2021 WebPage Regulatory News
    News

    OCC Identifies Operational Risk Deficiencies in MUFG Union Bank

    The Office of the Comptroller of the Currency (OCC) issued a Cease and Desist Order against MUFG Union Bank for deficiencies in technology and operational risk governance.

    September 20, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7494