Wealthtech
MAS Proposes to Streamline Regulatory Framework for Fund Managers
The Monetary Authority of Singapore (MAS) is proposing to streamline the regulatory framework for fund managers by repealing the Registered Fund Management Companies (RFMCs) regime. Existing RFMCs will be approved as Licensed Fund Management Companies (LFMCs) upon application. The RFMC
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UBS Launches Digital Platform for Structured Products in Asia
UBS Global Wealth Management has gone live with a digital platform for structured products in Singapore and Hong Kong, providing customers in the two locations with access to a wide selection of products, the ability to customize these products, and
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Xiaomi-backed Tiger Brokers Singapore Names Ian Leong as CEO
Xiaomi-backed online brokerage Tiger Brokers Singapore named Ian Leong as its new CEO, effective 28 September 2023. He succeeds Eng Thiam Choon who stepped down in June this year. He has 13 years of experience in the financial industry and was
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Endowus Partners with EQT to Expand Investor Access
Singapore’s digital wealth management platform, Endowus, has joined forces with EQT, a global private equity firm. This collaboration grants Endowus Private Wealth (EPW) clients in Singapore and Hong Kong access to a diversified portfolio of EQT funds through the Endowus
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Grab Shuts Down Investment Business, Users Have Until 13 Oct to Withdraw Funds
Ride-hailing and food delivery superapp Grab announced that it will be shuttering its investment business in Singapore by discontinuing its AutoInvest and Earn+ products. Micro-investment platform AutoInvest is Grab’s first retail wealth management product was formed as a result of
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MAS Approves Digital Asset Exchange AsiaNext as Recognised Market Operator
AsiaNext, a digital asset exchange for institutional investors, announced that it has secured a license as a Recognised Market Operator (RMO) from the Monetary Authority of Singapore (MAS). The license allows AsiaNext to operate an organised market for securities and
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Investment Platform Navigator Rebrands as GROW with Singlife
Navigator Investment Services announced that it has rebranded as GROW with Singlife following its inception as an investment platform over 20 years ago in Singapore. The rebranded entity will be under a new management team and with significant focus placed
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Endowus Raises US$35M to Deepen Presence in Singapore and Hong Kong
Digital wealth management platform Endowus announced that it has raised US$35 million in its latest funding round to deepen its presence in the Singapore and Hong Kong markets. The fundraise was joined by new investors Citi Ventures and MUFG Innovation
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FOMO Group Acquires CapBridge, 1X Exchange to Expand into Capital Markets
FOMO Group, a financial holding company that owns FOMO Pay, has acquired CapBridge, a capital markets service and asset custody firm, and private securities exchange company 1X Exchange. CapBridge is a digital online investment syndication and distribution platform with Capital
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MAS: Risk of Artificial Intelligence “Herding” Traders Still Low in Singapore
The risk of “herding” in trading platforms due to the use of AI models is still low as financial institutions (FIs) in Singapore are still at a nascent stage of using AI models for decision-making, says the Monetary Authority of
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