Regulatory Watch – Asia Pacific Edition – March 2023

We are pleased to release this latest issue of Aurexia’s Asia Pacific RegWatch newsletter, covering some of the recent regulatory developments in Singapore:

• Guidelines on Business Continuity Management (BCM), issued by MAS
• Overview of the Insurance Act amendments proposed by MAS and direct impacts
• Fintech Opensee (recognized for the FRTB product of the year by Risk.net)

Financial Institutions should follow the updated MAS Business Continuity Management guidelines to ensure their BCM frame work meets the updated requirements and is relevant in the event of incidents.
Also, the MAS has published proposed amendments of the Insurance Act reflecting international developments and best practices and providing further clarifications.
Lastly, we are delighted to present the established French Fintech Opensee in our FinTech Corner: their solution provides self-service real-time analytics for financial institutions and was named “Fundamental Review of the Trading Book (FRTB) product of the year” by Risk.net.

This month, we are presenting:

• A synthesis of MAS’ Guidelines on Business Continuity Management;
• An overview of MAS’ amendments to the Insurance Act and its impacts; and
• A presentation of @Opensee, a FinTech providing self-service data analytics for financial institutions.