Singapore banks have increased their oversight in electronic - TopicsExpress

Singapore banks have increased their oversight in electronic communications. According to Bloomberg News, DBS has restricted access to chat rooms, while UOB and OCBC have increased scrutiny on electronic communications. The moves follow similar actions by global banks Goldman Sachs, RBS, UBS, JPMorgan Chase and Citigroup, which have banned or curtailed employees participation in chat rooms involving other banks. That is expected to curb conversations used by traders to agree on transactions, share gossip and exchange tips on business flows. Earlier in June, it was reported that dealers used chat rooms to pool information about their positions and manipulate benchmark rates. 938LIVE / tt

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