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

    EU Agencies Update LCR Rule and Macro-Prudential Policy Recommendation

    The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).

    May 23, 2022 WebPage Regulatory News
    News

    EBA Publishes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.

    May 23, 2022 WebPage Regulatory News
    News

    EIOPA Examines Physical Climate Risk Exposure, SII Non-Compliance

    The European Insurance and Occupational Pensions Authority (EIOPA) published a report assessing insurers' exposure to physical climate change risks

    May 20, 2022 WebPage Regulatory News
    News

    EC Publishes Results on Review of Web Accessibility Directive

    The European Commission (EC) published the results of a public consultation, held in October 2021, on the review of the Web Accessibility Directive.

    May 19, 2022 WebPage Regulatory News
    News

    NGFS Report Explores Quantification of Climate Risk Differentials

    The Network for Greening the Financial System (NGFS) published two reports to aid central banks and regulators in their oversight of the financial sector and in their central bank operations

    May 19, 2022 WebPage Regulatory News
    News

    MAS Consults on Adjustment Spreads for Conversion of SOR Contracts

    The Monetary Authority of Singapore (MAS) and the SC-STS are jointly consulting, until June 10, 2022, on setting adjustment spreads for the conversion of legacy SOR contracts to SORA reference rate.

    May 18, 2022 WebPage Regulatory News
    News

    OSFI Discusses Benchmark Rate Transition, Sets Out Work Priorities

    The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.

    May 17, 2022 WebPage Regulatory News
    News

    EBA Proposes Standards to Support Secondary NPL Markets

    The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.

    May 17, 2022 WebPage Regulatory News
    News

    EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution

    The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).

    May 13, 2022 WebPage Regulatory News
    News

    EBA Issues Standards for Crowdfunding Service Providers Under ECSPR

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.

    May 13, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8206