Financial & markets regulation

INSIGHTS FROM CFA SOCIETY SINGAPORE

Private credit needs a secondary market

Such markets address illiquidity fears known to plague investors in Singapore and the Asia-Pacific

At the IPS-Nathan Lecture on Nov 3, 2025, Piyush Gupta argued that the shift to a digital economy necessitates a reconfiguration of the current framework, processes and mindset. The structural shift will involve the entire ecosystem.

Scams, exclusion: Piyush Gupta on risks of digital finance

The price of progress demands a whole-of-society response

A Polymarket billboard in Times Square in New York. Polymarket is blocked in Singapore, since it is considered to be a provider of illegal gambling.
THINKING ALOUD

No one can stop the next form of legalised gambling

Prediction markets are becoming too big to be illegal; you can bet on it

MAS noted feedback that retail investors face friction in commencing civil action, such as difficulty in self-organising, and finding sufficient funds for legal advice.

MAS proposes more measures for investors to seek civil compensation from market misconduct

Proposals aim to facilitate self-organisation, provide access to funding and reduce legal barriers to civil action

Governments are not the only ones interested in stablecoins, with major private players also taking notice.

Stablecoins and the global crypto regulatory arms race: What’s at stake for Singapore?

The race to become a leading hub of digital assets will increasingly involve cities strengthening their regulatory frameworks to favour stability over fast profits

Recent history shows the deeper consequences of lax supervision: after Enron's collapse, and the US and global corporate scandals uncovered in its wake, came the financial crisis of 2008.

The pitfalls of overhasty business deregulation

Republicans should think twice before rushing to scrap the US audit watchdog

Singapore Exchange Regulation issues its “Trade with Caution” notices sparingly, given the seriousness of the intended signal.
THINKING ALOUD

Fewer SGX queries are a step in the right direction

IN HIS commentary “Referee kayu? Like in football, focus in the market should be on the ‘play’, not the refereeing” (BT, Jan 27), Tan Boon Gin, CEO of Singapore Exchange Regulation (SGX RegCo), said t...

The FDIC took over Silicon Valley Bank in March 2023 when the bank suffered a sudden run on its deposits after reporting that it needed to raise more capital to offset losses on its portfolio.

US bank regulator considering legal action against former SVB executives

THE chairman of a leading US banking regulator said on Tuesday his agency is considering legal action against six former officers and eleven former directors of Silicon Valley Bank.

Macquarie Group was fined millions for allowing a rogue trader, Travis Klein, to book 426 fictitious trades to hide his losses.
THE BOTTOM LINE

The original rogue trader’s comment: Compliance is still an afterthought

THIS February marks 30 years since my rogue trading rocked the financial system and cratered Barings, Britain’s oldest and most venerable bank. I racked up US$1 billion in losses right under the noses...

SGX RegCo found that the company had failed to put in place adequate risk management systems and internal controls.

SGX RegCo reprimands former Sunrise Shares directors, CEO for breaches of listing rules

Among the lapses are overstating the company’s financial performance and failing to put in place an adequately resourced finance function