Wrapping Up On The Joint Webinar On The Latest Guidelines Issued By Monetary Authority of Singapore

We have successfully concluded another online joint webinar hosted by the Singapore FinTech Association (SFA) and the Blockchain Association of Singapore (BAS) yesterday, on 22 October.

In this online webinar, our CEO and Co-founder, Chionh Chye Kit, alongside with other panelists, addressed the latest Guidelines issued by the Monetary Authority of Singapore (MAS) for Individual Accountability and Conduct (IAC), as well as the Information Paper on Culture and Conduct Practices of Financial Institutions. The webinar started off with the speakers addressing the importance of building the right regulatory outcomes in an organization as well as the different outcomes that Financial Institutions (FIs) should aim for.

In the panel session conducted in the latter half of the webinar, the panelists came together to discuss how these latest guidelines will have an impact on the smaller FIs and FinTechs in terms of their accountability and conduct regime. They also covered some strategies that firms can employ to comply with these new regulatory expectations.

One of the main topics discussed was the guidelines reflecting the need to implement whistleblowing approaches in organizations. The panelists shared their thoughts on the whistleblowing concept, the importance of proper whistleblowing procedures in each organization regardless of size, as well as some challenges faced as to who should wear the hat of a whistleblower - Compliance or the Human Resource Department. To end off the panel session and virtual event, the panelists answered some of the questions raised by the attendees.

We would like to thank the organizers for inviting us to speak at the very first joint webinar between the Singapore FinTech Association (SFA) and the Blockchain Association of Singapore (BAS). It was a fruitful experience, and we look forward to taking part in more similar webinars and in the future!

About Cynopsis Solutions

Founded in 2014 and headquartered in Singapore, Cynopsis Solutions offers RegTech solutions designed to digitise and automate Compliance and regulatory processes, in particular know-your-customer, anti-money laundering, and counter-terrorism financing. Cynopsis Solutions’ accolades include MAS FinTech Awards (2018), RegTech100 (2018, 2019) and Financial Times Top 50 High Growth Companies in Asia-Pacific.

Our end-to-end KYC/AML solutions are designed according to the global FATF recommendations, applicable to more than 180 jurisdictions and is already helping more than a thousand B2B customers in the Banking, Financial Services, FinTech and Cryptocurrency, Professional Services and Gaming sectors globally.

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