Changes to Healthcare Regulation in Singapore

Reading Time: 4 minutesOur local healthcare industry has adapted to meet modern competition and population needs, and in step with this, the Ministry of Health in Singapore (Ministry) is looking to stay ahead of the curve by issuing a consultation paper inviting feedback on the draft Healthcare Services Bill (HCS Bill). The HCS Bill addresses key changes taking […]

MAS Consultation Paper on Proposed Requirements on Execution of Customers’ Orders

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 […]

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MAS Consultation Paper on Draft Notices and Guidelines Pursuant to the Securities and Futures Act

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) […]

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New Regulatory Regime in Singapore for Venture Capital Fund Managers

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

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

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 […]

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Singapore Smart Nation – How the law is changing with big plans for Big Data

Reading Time: 4 minutesSingapore has set course towards building a Smart Nation that is driven by big data, and changes in the law and regulations are pertinent to that end. Singapore’s Prime Minister first announced the government’s vision to become the world’s first Smart Nation in November 2014. Since then, Singapore has been revising its legal and regulatory […]

Managing the Risks of Using Robo-Advisors

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 […]

What are Senior Counsel in Singapore?

Reading Time: 6 minutesIntroduction to Senior Counsel What is a Senior Counsel? Senior Counsel (often referred to as “SCs”) have always been a fascinating class of the legal profession. When a lawyer is appointed a senior counsel (this is also known as taking the silk, he or she is symbolically recognized as being one of the best and […]

Receiving payments from a company when winding-up proceedings have been commenced against it

Reading Time: 4 minutesCentaurea International Pte Ltd (in liquidation) v Citus Trading Pte Ltd [2016] SGHC 264 We examine the first local reported decision on the issue of validating payments under Section 259 of the Companies Act. Essentially, while any payment made by a company after the commencement of its winding is prima facie void, Section 259 provides […]

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

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 […]