Published April 18, 2019
Singapore is well-reputed for its robust regulatory framework, but the 1MDB saga has brought the vigilance of financial institutions sharply into the spotlight. While the 1MDB graft trial continues, questions remain as to how gross breaches of our anti-money laundering rules occurred.
In this opinion piece published in The Business Times, RHTLaw Taylor Wessing’s Managing Partner, Tan Chong Huat and Practice Trainee Chan Yuet Ann argue that the public has not been kept meaningfully informed of the progress of investigations being undertaken and that the Monetary Authority of Singapore (MAS) should consider its disclosure framework regarding regulatory matters. They also highlight examples of European practices to argue that MAS should provide timely and apposite updates to the public on the 1MDB saga.
Source: Business Times
Opinion Piece Authors: Tan Chong Huat and Chan Yeut Ann
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