Enhancing Powers of Investigation – Protecting Singapore’s Reputation as a Key Finance Hub July 27, 2021 Singapore: MAS has issued a proposal for a series of amendments as part of the Financial Institutions (Miscellaneous Amendments) Bill. These proposed amendments seek to (i) enhance MAS’ investigative powers, and (ii) clarify and expand MAS’ reprimand powers. This article summarises the proposed changes that may be of interest to companies in the finance and fintech sectors who can then appreciate the reach and depth of MAS’ proposed enhancements to its investigative powers.
Competition Law’s Role in the Green Agenda July 16, 2021 Singapore: Reducing the global carbon footprint is an insurmountable challenge that is most effective with collective effort. Without explicit or robust guidance from competition authorities in many jurisdictions as to competition law’s recognition, treatment and assessment of sustainability objectives, businesses continue to face competition law risks. To help businesses navigate such risks, this article will explore the potential treatment of sustainability initiatives under Singapore’s existing framework as well as the approach adopted overseas.
Proposed amendments to Singapore’s gambling laws July 13, 2021 Singapore: As part of its ongoing efforts to ensure that Singapore's laws and regulations remain effective in the face of evolving gambling products and business models, the Ministry of Home Affairs (MHA) announced on 12 July 2021 that it is proposing amendments to gambling laws (expected to come into force later this year 2021).
シンガポールの第三者による費用負担（Third-party Litigation Funding）における展開 July 7, 2021 「第三者による費用負担（Third-party Litigation Funding）」は、これまでもシンガポールの紛争解決における一つの特色でしたが、国際仲裁にのみ許容されるものでした。しかし、この度2021年6月28日にCivil Law (Third-Party Funding) (Amendment) Regulations 2021が新しく施行され、第三者による費用負担の利用範囲が広がりました。その拡張範囲の１つにSICCにおける手続きも含まれており、これは特に現在のパンデミック下において、多くの企業にとっての助け舟となることでしょう。この動きに関連し、本稿では第三者による費用負担の利点や懸念点を克服するシンガポールの取り組みについて解説しています。
The Rise and Rise of Ransomware July 5, 2021 Singapore: More organisations have shifted their operations online and have their staff work from home because of the COVID-19 pandemic. From a cybersecurity perspective, this broadens the potential attack surface by nefarious hackers through an increase in the number of devices used to facilitate business operations. The larger attack surface, coupled with more sophisticated methods adopted by hackers, increase the risk of organisations falling prey to ransomware – a type of malware used by hackers to encrypt and block access to the victim’s data until the demanded ransom is paid.
Guidance on removal of alleged misbehaving liquidators: A case comment on Liquidators of Ace Class Precision Engineering Pte Ltd (in members’ voluntary liquidation) v Tan Boon Hwa [2021] SGHC 134 July 2, 2021 Singapore: In Singapore, applications to remove liquidators are relatively uncommon and cases which have succeeded are even rarer. In this case update, we take the opportunity to discuss these applications in Ace Class Precision Engineering Pte Ltd (in members’ voluntary liquidation) v Tan Boon Hwa and ors and other matters [2021] SGHC 134 (ACP).