MAS Consults on Capital Requirements for RMOs

The Monetary Authority of Singapore has proposed to revise the capital requirements for locally incorporated Recognised Market Operators (RMOs). The revisions focus on the liquidity of RMOs' assets to better assure their continued short-term operation. MAS also seeks to align its requirements for RMOs with the capital standards of jurisdictions such as the US and EU. MAS published its proposals in a consultation paper dated 23 October 2020.

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Payment Services Bill Proposes to Increase Regulation of Payment Service Providers in Singapore

The Payment Services (Amendment) Bill was introduced in the Singapore Parliament on 2 November 2020. The Bill proposes to amend the Payment Services Act to expand the regulatory coverage of digital payment token and money transfer services and to grant additional powers to the Monetary Authority of Singapore to impose user protection measures for customer assets.

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Singapore Extends Alternative Arrangements for Company Meetings to 30 June 2021

Singapore's Ministry of Law has extended the alternative arrangements for company meetings to 30 June 2021. The extension allows regulated companies to conduct meetings via electronic means. Likewise, MinLaw extended the deferral provisions for meetings of some organisations giving them a grace period to organise meetings physically or electronically to a date no later than 31 December 2020.

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Overview of PDPC Guide on Managing Data Intermediaries

The Personal Data Protection Commission's Guide on Managing Data Intermediaries highlights key obligations of, and considerations for, data controllers in outsourcing data processing activities to data intermediaries.

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Singapore Changes Its Strategic Goods Control List

The Singapore government has amended its list of strategic goods and technology that are controlled for export from or transit through Singapore. The amendments are implemented in the Strategic Goods (Control) Order 2020 (SGCO 2020) which came into effect from 16 November 2020. The amendments affect a range of military and dual-use goods but do not change the scope of the controls that apply to strategic goods and technology.

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