GUIDANCE
INTERPOL ASIA AND SOUTH PACIFIC 2025/26 REPORT
AI and THE INDUSTRIALISATION OF CYBERCRIME Background On 17 June 2026, INTERPOL released its 2025/2026 Asia and South Pacific Cyber Threat Assessment Report, exposing a dramatic escalation in transnational digital crime. The landmark report highlights a critical shift in the regional threat matrix: cybercriminal networks are transitioning from localized, isolated fraud setups into industrial-scale syndicates…
MAS PROPOSES AMENDMENTS TO TECHNOLOGY RISK MANAGEMENT NOTICE
Background On 10 June 2026, MAS issued a Consultation Paper proposing updates to its Notices on Technology Risk Management (“TRMN”). The primary objectives of the proposed enhancements to the TRMN are to reinforce technology resilience, address emerging AI-enabled threats, and eliminate ambiguities in system downtime reporting, against the backdrop of significant IT service disruptions at…
TECH ADVISORY: AGENTIC AI AND TOKEN-BASED SUBSCRIPTION CHANGES COULD CAUSE MASSIVE RISE IN USAGE BILLS
Background The recent case reported by media outlet Axios on 28 May 2026—where an unnamed corporate entity reportedly received a staggering US$500 million bill for AI usage in a single month. The fiscal catastrophe materialized after the organization introduced Anthropic’s Claude to its workforce without implementing mandatory, pre-configured consumption caps on business applications. Lacking structural…
MAS GUIDES ON MARKET CONDUCT CONTROLS FOR FINANCIAL ADVISORY INDUSTRY
Background On 26 May 2026, MAS published an information paper highlighting critical observations and good practices for overall fair dealing with customers, following a survey of financial institutions (“FIs”). FIs are required to maintain robust internal controls to safeguard consumer interests and ensure fair dealing outcomes. This paper covers 4 broad areas: prospecting and advertising…
MAS PROVIDES GUIDANCE ON RISK MANAGEMENT BEST PRACTICES FOR FUND MANAGEMENT COMPANIES
Background On 29 May 2026, MAS published an information paper on risk management practices of Fund Management Companies (“FMCs”) arising from MAS’s thematic inspections concerning how FMCs manage their overall investment and operational risks. This paper provides supervisory guidance and best practices regarding 5 broad areas: governance frameworks, policy and procedures (“P&Ps”), new fund launches and changes to existing funds, investment due diligence and ongoing monitoring of investment. Identified Gaps…
CHINA REGULATORS CRACK DOWN ON TIGER BROKERS, FUTU AND LONGBRIDGE FOR CROSS-BORDER BROKERAGE BUSINESS FOR MAINLAND CLIENTS
Background On 25 May 2026, Chinese regulatory authorities, led by the China Securities Regulatory Commission (CSRC), intensified their crackdown on unlicensed cross-border brokerage services. The enforcement targets Chinese online platforms facilitating offshore stock trading for domestic mainland residents without localized licenses. This regulatory tightening severely impacts capital outflow channels and reshapes the operational landscape for…
MAS ISSUED RESPONSE TO CONSULTATION PAPER ON ENHANCEMENTS TO PRODUCT HIGHLIGHTS SHEET (PHS) REQUIREMENTS AND COMPLEX PRODUCTS FRAMEWORK
Background On 15 May 2026, MAS issued its response to the public consultation paper on proposed enhancements to Product Highlights Sheet (“PHS”) and related product disclosure regimes to ensure retail investors can better understand key investment product features and their risks. The upcoming MAS updates affect issuers of Collective Investment Schemes and other investment products,…
MAS ISSUE GUIDANCE ON BEST PRACTICE IN AUM VALUATION FOR FUND MANAGEMENT COMPANIES
Background On 29 May 2026, MAS published an information paper on valuation practices for assets under management for Fund Management Companies (“FMCs”). FMCs are required to subject assets under its management to independent valuation and ensure fair dealing with customers. This paper provides supervisory guidance and best practices regarding 4 broad areas: establishing effective governance…
Financial Action Task Force Mutual Evaluation Report 2025 on Singapore highlights areas for further government action
Background On 6 May 2026, the Financial Action Task Force (FATF) and Asia/Pacific Group (APG) published Singapore’s Fifth Round Mutual Evaluation Report following an assessment visit in July 2025. The assessment found that Singapore maintains a highly competent and coordinated regime, placing it on “Regular Follow-up”—the highest monitoring status., with a number of gaps. This…
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