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Daily Debrief: What Happened Today
MAS Takes Action
The Monetary Authority of Singapore is withdrawing the merchant bank status of Switzerland-based Falcon Private Bank's Singapore branch for "serious failures in anti-money laundering (AML) controls and improper conduct by senior management at the head office in Switzerland as well as the Singapore branch", it said on Tuesday.
- Falcon Bank says will focus elsewhere after losing Singapore licence
- DBS says it 'should have taken more rigorous action'
- UBS 'disappointed' it did not do more to detect control lapses
- Swiss financial regulator raps Falcon Bank for breaches
Resale prices for non-landed private homes fell 0.9 per cent in Sept 2016 from August to their lowest level in 50 months since July 2012, data from SRX Property on Tuesday morning showed.
Singapore will launch a S$10 million Asean Cyber Capacity Programme (ACCP) to deepen cybersecurity cooperation and capabilities among Asean member states.
Singapore's iconic Raffles Hotel will embark on a 16-month restoration programme starting Jan 2017, the hotel announced on Tuesday.
Logistics facilities provider GLP has leased 32,000 square metres or 344,000 square feet of space to retailer Walmart in southern China, it said in a Singapore Exchange filing on Tuesday morning.
Catalist-listed Singapore Medical Group (SMG) has inked a deal to buy Astra Women's Specialists for S$60 million, it said in a press release Tuesday afternoon.
The STI Today
A slide in the Dow futures and 1.3 per cent loss in Hong Kong resulted in a weak session here in which bank stocks fell after news that the Monetary Authority of Singapore had taken action against UBS and DBS for anti-money laundering lapses.