As Singapore's banking sector undergoes significant transformation, regulatory changes are playing a pivotal role in shaping its future. The rise of digital banks, alongside increasingly stringent compliance measures, is reshaping the landscape, presenting both opportunities and challenges for financial institutions.
Our Co-Head of Financial Services Regulatory Elaine Chan and Partner Chan Jia Hui contributed to the Singapore chapter of Lexology Panoramic – Banking Regulation 2025, offering valuable insights into these developments.
The chapter provides a comprehensive overview of Singapore’s legal and regulatory framework, detailing the Monetary Authority of Singapore's (MAS) role as the primary regulator overseeing compliance with the Banking Act, Securities and Futures Act, and other financial laws. It also examines critical policies, including enhanced capital requirements for local banks, the liberalisation of the sector to encourage foreign competition, and the introduction of digital banking licences.
Click below to read the full article.