The Monetary Authority of Singapore announced a support package for the financial and FinTech sectors to deal with the immediate challenges brought by the Coronavirus Disease 2019 (COVID-19) pandemic and to prepare for recovery and future growth. The initiatives address manpower costs, operational costs and access to business opportunities.
Apr 08 2020 - OrionW
The COVID-19 (Temporary Measures) Act became law on 7 April 2020. Bill in Parliament on the second week of April. The Act offers temporary relief to businesses and individuals who are unable to perform their contracts because of the COVID-19 pandemic. The Act also provides temporary measures for certain matters related to bankruptcy, in-person business meetings, court proceedings, property tax relief and movement of individuals.
Singapore has announced a range of programmes and measures in response to the Coronavirus Disease 2019 (COVID-19) pandemic. This article summarises the key announcements as of 7 April 2020.
Mar 23 2020 - OrionW
On 19 March 2020, the Monetary Authority of Singapore imposed a composition penalty of S$400,000 on a trust company for non-compliance with anti-money laundering and countering the financing of terrorism requirements under the Monetary Authority of Singapore Act.