Eric Chan
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Eric Chan’s practice focus is in financial services regulation. His work includes advising and helping banks and other financial institutions to understand and comply with Singapore financial regulatory rules and regulations. Eric is also extensively involved in advising various financial institutions as well as corporate clients on privacy and personal data protection issues.

MAS Consultation Paper on Proposed Requirements on Execution of Customers’ Orders
Business,Legal Updates

Reading Time: 2 minutesOn 20 November 2017, the Monetary Authority of Singapore (“MAS”) issued a consultation paper inviting comments on its proposal to formalise its expectations of execution of customers’ orders by capital markets services licence holders, banks, merchant banks, and finance companies that conduct the regulated activities of dealing in securities, trading in futures contracts, leveraged foreign […]

MAS Consultation Paper on Draft Notices and Guidelines Pursuant to the Securities and Futures Act
Business,Legal Updates

Reading Time: 5 minutesThe Monetary Authority of Singapore (the “MAS“) has issued a consultation paper on 6 October 2017, inviting comments on proposed new notices and guidelines that elaborate on and set out the requirements of key changes to the regulatory framework of the Securities and Futures Act (“SFA“) following the enactment of the Securities and Futures (Amendment) […]

New Regulatory Regime in Singapore for Venture Capital Fund Managers
Business,Legal Updates

Reading Time: 3 minutesFollowing a consultation initiated in February 2017, the Monetary Authority of Singapore (“MAS”) has late last week moved quickly to introduce into Singapore law a new regulatory regime for fund managers who manage only venture capital funds. This note discusses the key elements of the new regime. Simplified Authorisation and Regulatory Regime Venture capital fund […]

MAS Consultation Paper on Changes to the Notification Requirement in relation to Representatives Serving Only Non-Retail Customers
Business,Legal Updates

Reading Time: 4 minutesOn 25 September 2017, the Monetary Authority of Singapore (“MAS”) issued a consultation paper proposing certain changes to streamline the Representative Notification Framework (“RNF”) for financial institutions (“FIs”) whose representatives serve only non-retail customers. For the purposes of this present consultation, a non-retail customer would be a customer who falls within the statutory definitions of […]

Accounting and Corporate Regulatory Authority (ACRA) Updates Guidance Notes on Setting up a Register of Controllers
Business,Business Advice,Legal Updates

Reading Time: 4 minutesOn 18 September 2017, the Accounting and Corporate Regulatory Authority (“ACRA”) issued revised versions of its written guidance in relation to the requirements on the register of controllers for Singapore companies, foreign companies registered in Singapore and limited liability partnerships (collectively known as “Corporate Entities”, and each a “Corporate Entity”) under Part XIA of the […]

Managing the Risks of Using Robo-Advisors
Legal Updates

Reading Time: 7 minutesAfter assessing the unique characteristics and risks posed by digital advisers, the Monetary Authority of Singapore (MAS) has set out several specific expectations that the board and senior management of the digital adviser must address. This article details the key aspects of the MAS proposal. This article is written by Eric Chan  from Shook Lin […]

MAS Proposes Revisions to the Competency Requirements for Representatives Conducting Regulated Activities under the Securities and Futures Act and Financial Advisers Act
Legal Updates

Reading Time: 5 minutesOn 12 December 2016, the Monetary Authority of Singapore (“MAS”) issued a consultation paper inviting comments on proposed amendments to the competency requirements for appointed representatives under the Securities and Futures Act (Chapter 289) (the “SFA”) and the Financial Advisers Act (Chapter 110) (the “FAA”). The amendments relate to the Capital Markets and Financial Advisory […]

MAS Issues Regulatory Guidelines for FinTech Solutions Sandbox
Fintech,Legal Updates,Startups

Reading Time: 7 minutesOn 16 November 2016, the Monetary Authority of Singapore (“MAS”) issued new Fintech Regulatory Sandbox Guidelines (the “Guidelines”), along with a set of Frequently Asked Questions on the same (“FAQs”). These set out the objectives and principles behind a regulatory sandbox approach (“Sandbox”) for the development and implementation of financial technology (“FinTech”) solutions, and are […]

MAS Proposes Changes to Payments Regulatory Framework and Establishment of a National Payments Council
Legal Updates

Reading Time: 7 minutesMAS Proposes Changes to Payments Regulatory Framework and Establishment of a National Payments Council This article comes courtesy of Shook Lin & Bok LLP. One of the leading and full-service commercial law firms in Singapore with a strong Asian presence and global reach. They have close to a century of rich legal heritage with a […]

MAS Issues New Guidelines on Outsourcing Risk Management with Guidance on Cloud Services
Legal Updates

Reading Time: 12 minutesMAS Issues New Guidelines on Outsourcing Risk Management with Guidance on Cloud Services This article comes courtesy of Shook Lin & Bok LLP. One of the leading and full-service commercial law firms in Singapore with a strong Asian presence and global reach. They have close to a century of rich legal heritage with a number […]

MAS Proposes Enhanced Requirements for Protection of Client Moneys and Assets held by Capital Markets Intermediaries
Legal Updates

Reading Time: 9 minutesMAS Proposes Enhanced Requirements for Protection of Client Moneys and Assets held by Capital Markets Intermediaries This article comes courtesy of Shook Lin & Bok LLP. One of the leading and full-service commercial law firms in Singapore with a strong Asian presence and global reach. They have close to a century of rich legal heritage […]