Financial Services

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INTRODUCTION 

Singapore has established itself as a leading global financial centre ranking 2nd in PriceWaterHouseCooper’s City of Opportunity index and 6thlargest wealth management centre in the world by Deloitte, as well as being also the third largest FX centre globally. As of 2016, Singapore hosts a total of 126 commercial banks, of which 5 are local banks and 121 are foreign banks, with extremely vibrant sectors in capital markets, asset management, insurance, and FinTech as well.

 

OBJECTIVES

The EuroCham Financial Services committee represents European Financial Institutions (FIs) operating in Singapore and seeks to advocate on behalf of its members for an open and competitive regulatory environment. The committee serves as an effective platform between industry and regulators in Singapore, the region, as well as the European Commission. The committee comprises major FIs in the banking, insurance, and asset management sectors, as well as professional consultants.

 

CHAIRMEN

Mr Philippe van Hoof, Managing Director & Head of FIs Asia, ING Bank N.V. (Chairman)
Mr Boon-Hiong Chan, Director & Head of Market Advocacy APAC & MENA (Vice Chairman)

 

HIGHLIGHTS

– EuroCham banking position paper on enhancing the EU-Singapore regulatory dialogue

– Roundtable and submission to the EU High Level Expert Group on sustainable finance

– Briefing by Mr Bruno Gencarelli, Head of Data Flows and Protection Unit at the European Commission (DG Justice and Consumers)

– Climate Change Finance event: How can green projects be better financed today in Asia?

– Biennial briefing on financial landscape with MAS

– Dialogue with Mr Olivier Guersent, Director General of DG-FISMA, European Commission

– Closed door dialogues with regulators on banking and insurance regulations (RBC2)

– Annual cyber security panel debate with multilateral stakeholders

 

TOPICS

– Banking and insurance regulations (MiFID II, EMIR, Benchmarks, Basel, RBC2, IFRC)

– Green and sustainable finance

– Data protection and privacy & cyber security

– Digital payments innovation and FinTech

 

STAKEHOLDERS INCLUDE

– Singapore authorities (MAS)

– European Commission (DG-FISMA, DG-JUSTICE)

 

HOW TO JOIN

For more information about the Financial Services Committee, please contact the Corporate Affairs Manager, Mr. Elgin Seah at elgin.seah@eurocham.org.sg.