Twitter Logo Youtube Circle Icon LinkedIn Icon

Singapore > Legal Developments > Finance > Law firm and leading lawyer rankings

Editorial

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

MAS consults on liquidity coverage ratio disclosure requirements

October 2015 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

13 Oct 2015

This update discusses the Monetary Authority of Singapore’s (“MAS”) consultation paper on its proposals on liquidity coverage ratio disclosure requirements. In November 2014, MAS updated its liquidity regulations for banks. In particular, the liquidity coverage ratio (“LCR”) requirement was introduced for domestic systemically important banks in Singapore. MAS is now consulting on a set of proposed disclosure requirements to complement the LCR requirement.

PDPA related amendments to MAS AML/CFT notices and MAS’ response to feedback received

September 2014 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

In light of the Personal Data Protection Act coming into force, the Monetary Authority of Singapore ("MAS") published a consultation paper proposing amendments ("Personal Data Amendment") to MAS notices on prevention of money laundering and countering the financing of terrorism ("ML/CFT Notices"). The Personal Data Amendment aimed to clarify that for the purposes of meeting anti-money laundering / countering the financing of terrorism requirements, financial institutions may collect, use and disclose personal data without customer consent, as per existing practice. Following the receipt of feedback, MAS made further amendments to the Personal Data Amendment and published its response discussing the further amendments in light of feedback received. This update is a follow up to our earlier update on the Personal Data Amendment and discusses MAS' response.

To read the above article, please click on the link below.

11_jul_14_pdpa_related_amendments_to_mas

Proposed framework for systemically important banks in Singapore

September 2014 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Monetary Authority of Singapore ("MAS") recently published a consultation paper proposing a regulatory framework for systemically important banks in Singapore. This update discusses MAS' proposals, including, an overview of the proposed regulatory framework, the assessment methodology for identifying systemically important banks in Singapore, the policy measures to be applied toward such banks and the implementation timeline for the proposed regulatory framework.
29_july14_proposed_framework_for_systemically_important_banks_in_singapore

PDPA related amendments to MAS AML/CFT notices and MAS’ response to feedback received

July 2014 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

In light of the Personal Data Protection Act coming into force, the Monetary Authority of Singapore ("MAS") published a consultation paper proposing amendments ("Personal Data Amendment") to MAS notices on prevention of money laundering and countering the financing of terrorism ("ML/CFT Notices"). The Personal Data Amendment aimed to clarify that for the purposes of meeting anti-money laundering / countering the financing of terrorism requirements, financial institutions may collect, use and disclose personal data without customer consent, as per existing practice. Following the receipt of feedback, MAS made further amendments to the Personal Data Amendment and published its response discussing the further amendments in light of feedback received. This update is a follow up to our earlier update on the Personal Data Amendment and discusses MAS' response.

To read the above article, please click on the link below.

11_jul_14_pdpa_related_amendments_to_mas

Proposed framework for systemically important banks in Singapore

July 2014 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Monetary Authority of Singapore ("MAS") recently published a consultation paper proposing a regulatory framework for systemically important banks in Singapore. This update discusses MAS' proposals, including, an overview of the proposed regulatory framework, the assessment methodology for identifying systemically important banks in Singapore, the policy measures to be applied toward such banks and the implementation timeline for the proposed regulatory framework.
29_july14_proposed_framework_for_systemically_important_banks_in_singapore

Consultation on the recommendations of the Financial Advisory Industry Review

April 2013 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

On 26 March 2012, the Monetary Authority of Singapore ("MAS") announced the launch of the Financial Advisory Industry Review ("FAIR"), with the aim of raising standards of practice in the financial advisory ("FA") industry and improving efficiency in the distribution of life insurance and investment products in Singapore. Subsequently, a panel, chaired by MAS and comprising representatives from industry associations, consumer and investor bodies, academia, media, and other stakeholders ("FAIR Panel"), was formed on 2 April 2012 to conduct the review.

Consultation on Securities and Futures Act and Financial Advisers Act Regulations

January 2013 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

This update discusses a recent consultation paper (“Consultation Paper”) released by the Monetary Authority of Singapore pertaining to proposed amendments to the regulations pursuant to the Securities and Futures Act and the Financial Advisers Act. The closing date for this Consultation Paper is 4 January 2013.

To read the above article, please click on the link below.

FUND MANAGEMENT IN SINGAPORE UNDER THE NEW REGULATORY FRAMEWORK

December 2012 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

The asset management industry has been facing tighter regulations globally. Singapore's much-anticipated enhanced regulatory framework for fund management companies (FMCs) was finally implemented by the Monetary Authority of Singapore (MAS) in August. This move will help to align Singapore's fund management regulatory framework more closely with those adopted in other international financial hubs.

IMPORTANCE OF RECORDINGS IN BANKING DISPUTES

May 2012 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

Crédit Industriel et Commercial v Teo Wai Cheong [2012] SGHC 94

The Singapore High Court has granted judgment to Crédit Industriel et Commercial (“CIC”) for its claim against Teo Wai Cheong (“Teo”) for payment for shares that were acquired under certain “accumulator” transactions carried out in 2007. 

A RELOOK AT “CREDITORS”

March 2012 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

SAAG Oilfield Engineering (S) Pte Ltd (formerly known as Derrick Services Singapore Pte Ltd) v Shaik Abu Bakar bin Abdul Sukol and another and another appeal [2012] SGCA 7

Tighter leash on Singapore credit rating agencies

February 2012 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

The future of credit rating agencies (CRAs) in Singapore took a twist on January 17 2012 when the Monetary Authority of Singapore (MAS) released a new regulatory framework for credit rating agencies.

ASSET-BASED LENDING IN SINGAPORE

January 2012 - Finance. Legal Developments by Joyce A. Tan & Partners.

More articles by this firm.

To what extent are asset-based lending structures used (e.g., revolving and term loan facilities secured by present and future accounts and inventory, with the amount of loans available at any time based on the value of such assets)?

NEW REGULATORY FRAMEWORK FOR CREDIT RATING AGENCIES

January 2012 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Monetary Authority of Singapore (“MAS”) has issued a set of subsidiary legislation and regulations creating a new regulatory framework for credit rating agencies (“CRAs”).

Proposed Implementation of Circuit Breakers for Securities Market

November 2011 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

On 7 July 2011, SGX Group proposed to implement Circuit Breakers on the Singapore Stock Exchange (“SGX”) in order to control volatility in its equity market and attract global investors to the local bourse.

Public Consultation on the Review of the Companies Act

November 2011 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

The Ministry of Finance (MOF) and the Accounting and Corporate Regulatory Authority (ACRA) have jointly invited the public to provide feedback on (i) the Report of the Steering Committee for Review of the Companies Act; and (ii) the Consultation on the Regulatory Framework for Foreign Entities in Singapore.

SECOND CONSULTATION ON REGULATORY REGIME FOR FUND MANAGEMENT COMPANIES

October 2011 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

INTRODUCTION
The Monetary Authority of Singapore (“MAS”) has issued a consultation paper (“CP”) containing several regulatory enhancements and the draft legislative amendments which will give effect to the new regulatory regime for fund management companies (“FMCs”).

MAS ROLLS OUT SAFEGUARDS FOR RETAIL INVESTORS

August 2011 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

1. Financial Advisers (Amendment) Regulations 2011
2. Notice on the Sale of Investment Products (Notice SFA 04-N12)
3. Notice on Recommendation of Investment Products (Notice FAA-N16)

CHANGE IN TRADING HOURS AT SGX

August 2011 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

From 1 August 2011, market prices and data will be generated continuously throughout the day including the period from 12.30pm to 2.00pm, and disseminated through existing data-feed channels, where investors normally obtain such information.

Proposed Implementation of Circuit Breakers for Securities Market

August 2011 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

On 7 July 2011, SGX Group proposed to implement Circuit Breakers on the Singapore Stock Exchange (“SGX”) in order to control volatility in its equity market and attract global investors to the local bourse.

The Right Approach In Developing Islamic Finance In Singapore

August 2011 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

Singapore has established a strong reputation as an international financial hub which offers a full suite of financial services.

SGX ISSUES SUSTAINABILITY REPORTING GUIDE

July 2011 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Singapore Exchange Limited (“SGX”) has issued a policy statement (“Policy Statement”) and an accompanying guide (“Guide”) on sustainability reporting.

Singapore Proposes Regulation Of Credit Rating Agencies

July 2011 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

Credit rating agencies (“CRAs”) play an important role in the capital markets. CRAs provide credit ratings on entities and securities that are widely relied on by participants in the securities markets and the banking industry, thus creating a significant impact on the operation of the markets and on investor confidence.

The Future Of Corporate Governance For Financial Institutions In Singapore

July 2011 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

In a bid to strengthen the corporate governance regime for financial institutions (“FIs), the Monetary Authority of Singapore (MAS), on 9 December 2010, published changes to the Banking (Corporate Governance) Regulations 2005, the Insurance (Corporate Governance) Regulations 2005 (collectively, the “Regulations”) and MAS Guidelines on Corporate Governance for Banks, Financial Holding Companies and Direct Insurers (“Guidelines”).

Revised Code on Collective Investment Schemes (CIS)

July 2011 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

The Code on Collective Investment Schemes (“Code”) is issued by the Monetary Authority of Singapore (“MAS”) on 23 May 2002 pursuant to section 321 of the Securities and Futures Act (Cap. 289) (“SFA”). The Code prescribes best practices in the management, operation and marketing of collective investment schemes.

Launch of Private Banking Code of Conduct

July 2011 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

On 5 April 2011, the Monetary Authority of Singapore welcomes the launch of a Code of Conduct for the private banking industry in Singapore (the “PB Code”).

RECENT ANNOUNCEMENTS FROM SGX

July 2011 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Singapore Exchange Limited (“SGX”) recently made the following announcements which will improve its competitiveness and facilitate trading.

SGX Updates

May 2011 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

1. SGX shortens time-to-market for secondary fund raising

On 9 December 2010, the Singapore Exchange Limited (“SGX”) announced measures to shorten time-to-market for secondary fund raising exercises. The measures formalise certain temporary measures on fund raising implemented in early 2009 to facilitate the raising of capital by companies under tight credit conditions during the global financial crisis.

 

MAS REVISES CODE ON COLLECTIVE INVESTMENT SCHEMES

May 2011 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Monetary Authority of Singapore (“MAS”) has issued a revised Code on Collective Investment Schemes (“Code”). The revised Code strengthens the core investment requirements for collective investment schemes (“schemes”), introduces new guidelines for specialised fund categories such as index funds and money market funds, and puts in place other safeguards which enhance investor protection.

A New Year with New SGX Rules

May 2011 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

The Singapore Exchange Limited (“SGX”)
is wrapping up the year 2010 with good
news for all Singapore listed companies.
Singapore listed companies will soon find
it easier to raise secondary funding

LEGISLATION UPDATE

February 2011 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

MAS PROPOSES ENHANCED POWERS FOR INSURANCE RESOLUTION

Banking and Finanace Q&A

February 2011 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

Moving past the 'year of fear': Loon Choon discusses

Recent Changes to the Securities and Futures Act (Cap 289) (“the Act”)

February 2011 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

The Securities and Futures (Amendment) Act 2009 (“SF(A)A”)was passed by the Parliament on 19 February 2009. Since then, the SF(A)A had been implemented in stages. The following outlines several amendments which took effect on 29 March 2010:-

Islamic Finance in Singapore

February 2011 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

The global economic crisis brought attention to Islamic banking and finance as a more ethical alternative to the western approach of the conventional interest-based finance system. It was perceived that the risk and profit-sharing feature inherent in Islamic finance transactions promotes better financial stability given that such transactions are likely to be less speculative, more prudent and carries less leverage.

Implementation of ASEAN and Plus Standards Scheme for Offer of Investments in Singapore

February 2011 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

The ASEAN and Plus Standard (the “Scheme”) for multi-jurisdiction offerings of securities in ASEAN has been effectively implemented on 19 June 2009 in Singapore. The Scheme is implemented via the Securities and Futures (Offers of Investments) (Shares and Debentures) Amendment Regulation 2009 (the “Amendment Regulations”).

STRICTER REGULATORY MEASURES FOR SALE OF INVESTMENT PRODUCTS TO RETAIL CUSTOMERS

November 2010 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

In March 2009, not long after the bankruptcy of Lehman Brothers Holdings Inc. (“Lehman”), the Monetary Authority of Singapore (“MAS”) issued a consultation paper containing proposals to revise MAS’ regulatory framework for unlisted investment products, such as the credit-linked structured notes which underwent drastic devaluation following Lehman’s collapse.

CREDITORS OF LARGER LOANS DO NOT AUTOMATICALLY HAVE GREATER RIGHTS THAN CREDITORS OF SMALLER LOANS

October 2010 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

In April 2010, the Singapore High Court found Silverlink Holdings Limited (“Silverlink”), the parent holding company of luxury resort chain, Amanresorts, liable for breach of contract for failing to issue convertible loan notes to the Plaintiffs, two companies owned by the Schroder Asian Properties (“SAP”) Fund.  

MAS Consults on Proposed Amendments to the Insurance Act

September 2010 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

On 8 September 2010, the Monetary Authority of Singapore (the “MAS”) issued a consultation paper with proposed amendments to the Insurance Act (the “IA”). The aim of these amendments is to improve the MAS’ regulatory framework for persons engaged in insurance business and who act as insurance intermediaries in Singapore.

Joint Effort Of Sgx And Acra In Providing Guidance To Audit Committees

September 2010 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

The effective interaction between Audit Committees (“AC”) and external auditors plays a critical role in preserving the quality of audit outcome as well as promoting the effectiveness of corporate governance framework.

The Borrower is the Slave of the Lender?

July 2010 - Finance. Legal Developments by Eversheds Harry Elias.

More articles by this firm.

This article highlights the Singapore High Court’s recent decision relating to the Moneylenders Act 2008 (No. 31 of 2008)

MAS REVISES GUIDELINES ON CAPITAL MARKETS SERVICES LICENCE

June 2010 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Monetary Authority of Singapore (the “MAS”) recently revised its Guidelines on Criteria for the Grant of a Capital Markets Services Licence and Representative’s Licence (the “Guidelines”).

REGULATION UPDATE

May 2010 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

MAS REVIEWS REGULATORY REGIME FOR FUND MANAGERS AND EXEMPT FINANCIAL INTERMEDIARIE

Islamic Finance in Singapore

May 2010 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

The global economic crisis brought attention to Islamic banking and finance as a more ethical alternative to the western approach of the conventional interest-based finance system. It was perceived that the risk and profit-sharing feature inherent in Islamic finance transactions promotes better financial stability given that such transactions are likely to be less speculative, more prudent and carries less leverage.

GUIDELINES ON FAIR DEALING FOR FINANCIAL INSTITUTIONS

January 2010 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

Monetary Authority of Singapore (“MAS”) advocates that Islamic finance products shall receive similar regulatory treatments as the conventional finance products. However, MAS has not opted to have a separate Islamic finance regulatory regime that exists in parallel with the conventional framework. MAS accordingly serves as the driving force behind the change in the laws and regulations pertaining to the governance, validation and enhancement of Islamic finance transactions.

BANKS FACE CONSEQUENCES OF NON-COMPLIANCE WITH INTERNAL PRACTICES AND ACCEPTED BANKING PROCEDURES

September 2009 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Singapore High Court has criticised the conduct of the Singapore branches of two foreign banks in failing to adhere to internal control mechanisms and accepted banking procedures in the verification of signatures on certified extracts of board resolutions. The court also provided valuable guidance on the steps banks could take to ensure the bona fides of such certified extracts.

GUIDELINES ON FAIR DEALING FOR FINANCIAL INSTITUTIONS

June 2009 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

On 3 April 2009, the Monetary Authority of Singapore (“MAS”) issued the Guidelines on Fair Dealing – Board and Senior Management Responsibilities for Delivering Fair Dealing Outcomes to Customers (the “Guidelines”) to promote fair dealing by financial institutions when they conduct business with their customers.

PROPOSED AMENDMENTS TO DEFINITION OF “CARRYING ON INSURANCE BUSINESS” IN INSURANCE ACT

May 2009 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Monetary Authority of Singapore (the “MAS”) has issued a consultation paper (the “Consultation Paper”) on its proposal to amend the definition of “carrying on insurance business” in the Insurance Act. The consultation is open for public feedback until 12 June 2009.

MAS: Banks and Financial Institutions to Deliver Fair Dealing Outcomes

May 2009 - Finance. Legal Developments by WongPartnership.

More articles by this firm.

On 3 April 2009, the Monetary Authority of Singapore ("MAS") issued the Guidelines on Fair Dealing - Board and Senior Management Responsibilities for Delivering Fair Dealing Outcomes to Customers (the "Guidelines") to promote fair dealing by financial institutions when they conduct business with their customers.

GUIDELINES ISSUED ON ISLAMIC BANKING REGULATIONS

May 2009 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

MAS provides summary of banking regulations and directives relating to Islamic financing; also explains treatment of various Islamic banking structures

NEW SECURITIES LISTING RULES TO HEIGHTEN MARKET EFFICIENCY

April 2009 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

In July 2008, Singapore Exchange Limited (“SGX”) invited public comment on its proposed changes to securities listing rules. The proposed new rules, inter alia, introducing the listings of Life Science Companies (“LSC”) with no financial track record and revision of IPO distribution requirements, will allow for more alternatives that will widen the range of companies and product types listed on SGX. Following the public consultation, SGX had finalised the new listing rules and changes to securities listing rules. These changes will take effect on 24 March 2009.

Growth of Islamic Finance

April 2009 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

With the efforts of the Monetary Authority of Singapore (“MAS”), Singapore is moving closer to its well-published desire of becoming an Islamic finance centre in Asia. Singapore has been chosen as the first Asian country to host the 6th annual summit of Islamic Financial Services Board in May 2009. The hosting of the scheduled event underscores Singapore’s role as an international financial centre.

SGX SEEKS PUBLIC COMMENTS ON PROPOSED PENALTY FRAMEWORK FOR NON-DELIVERY OF SECURITIES

April 2009 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

Singapore Exchange (“SGX”) has issued a consultation paper seeking public feedback on the proposed permanent penalty framework for non-delivery of securities. For readers who are keen to read more on the proposed framework, the same may be accessed from SGX’s website at www.sgx.com.sg. This is preceded by the implementations of SGX on 22 September 2008 to prevent settlement failures of securities and abusive naked short-selling. Short-selling is the sale of securities or commodity futures not owned by the seller (who hopes to buy them back later at a lower price).

MAS ISSUES PUBLIC CONSULTATION ON UNLISTED INVESTMENT PRODUCTS

March 2009 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

As part of its major review on investment products, the Monetary Authority of Singapore (the “MAS”) has issued a consultation paper (the “Consultation Paper”) containing its proposals to curb mis-selling and improve disclosure in relation to three product groups (referred to collectively as “unlisted investment products”): debentures and collective investment schemes (“CIS”) which are not traded on any approved exchange, and life policies (including investment-linked life insurance policies (“ILPs”)).

SGX AND “WATCH-LIST”

March 2009 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

On 6th December 2007, the SGX has amended its Listing Manual and introduced a “Watch-list” for companies listed on the Mainboard (“Mainboard companies”).

UNIQUE ENTITY NUMBER (“UEN”) BRINGS CONVENIENCE TO ENTITIES

March 2009 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

The Ministry of Finance (the “MOF”) issued a press statement announcing that from 1 January 2009, all entities that are registered in Singapore, such as businesses, local companies, limited liability partnerships (LLPs), societies, representative offices, healthcare institutions and trade unions, will have a Unique Entity Number (UEN) as its identification number. This shall be used for correspondence and interaction with government agencies.

SGX SEEKS PUBLIC COMMENTS ON PROPOSED PENALTY FRAMEWORK FOR NON-DELIVERY OF SECURITIES

March 2009 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

Singapore Exchange (“SGX”) has issued a consultation paper seeking public feedback on the proposed permanent penalty framework for non-delivery of securities.

Growth of Islamic Finance

March 2009 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

With the efforts of the Monetary Authority of Singapore (“MAS”), Singapore is moving closer to its well-published desire of becoming an Islamic finance centre in Asia. Singapore has been chosen as the first Asian country to host the 6th annual summit of Islamic Financial Services Board in May 2009. The hosting of the scheduled event underscores Singapore’s role as an international financial centre.

NEW SECURITIES LISTING RULES AND RULE REVISIONS

March 2009 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Singapore Exchange Limited (the “SGX”) has announced the issuance of new securities listing rules and changes to existing rules which will take effect from 24 March 2009. The new rules and rule amendments were finalised following a public consultation carried out by the SGX in July 2008. Please click here to view that consultation document.

FURTHER MEASURES TO FACILITATE FUND RAISING

February 2009 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Singapore Exchange Limited (the “SGX”), in consultation with the Monetary Authority of Singapore (the “MAS”), has introduced several new measures to facilitate listed companies’ fund raising efforts in the current challenging market conditions. These measures are in addition to those already announced by the SGX on 12 January 2009 (click here to refer to our summary of the earlier measures).

SGX CONSULTATION PAPER: LISTING OF LIFE SCIENCE COMPANIES ON CATALIST

February 2009 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Singapore Exchange Limited (the “SGX”) has launched a public consultation on new listing rules (the “Proposed Rules”) for non-commercialised life science companies to list on Catalist. A “non-commercialised life science company” (“NLSC”) is defined as “a life science company that has not commenced revenue-yielding commercial activities in its primary line of business”, where revenue that is incidental to the primary business is excluded.

NEW REGULATORY REGIME FOR REPRESENTATIVES OF CMS LICENSEES AND FAA LICENSEES

February 2009 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Securities and Futures (Amendment) Bill and the Financial Advisers (Amendment) Bill of 2009 were passed by Parliament on 19 January 2009. They will effect a very significant change to the regulatory regime for representatives employed by holders of capital markets services (“CMS”) licences and financial advisers (“FA”) licences under the Securities and Futures Act (the “SFA”) and Financial Advisers Act (the “FAA”) respectively.

BANKING REGULATIONS PERMIT WIDER RANGE OF ISLAMIC FINANCIAL INSTRUMENTS

January 2009 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

The Banking (Amendment) Regulations 2009 (the “Regulations”) came into operation on 19 January 2009. The amendments present financial institutions offering Islamic finance a wider range of instruments with which to manage their liquidity and to match assets with liabilities. They comprise: (i) an amendment to Regulation 23; (ii) a new Regulation 23A; and (iii) a new Regulation 23B.

SGX INTRODUCES MEASURES TO FACILITATE RIGHTS ISSUES

January 2009 - Finance. Legal Developments by Drew & Napier LLC .

More articles by this firm.

In a news release dated 12 January 2009, the Singapore Exchange Limited (the “SGX”) in consultation with the Monetary Authority of Singapore (the “MAS”) announced new measures to make it easier for listed issuers to carry out secondary fund-raising through rights issues. The proposed changes aim to assist listed issuers seeking equity funding from their shareholders in the current economic climate of reduced credit availability.

Lehman Brothers: Current Progress of Insolvency Proceedings

January 2009 - Finance. Legal Developments by WongPartnership.

More articles by this firm.

In the earlier updates, it was reported that Lehman Brothers Holdings Inc. ("Lehman") had filed for protection under Chapter 11 of the United States Bankruptcy Code. In the UK, administrators to Lehman Brothers International (Europe) ("Lehman Europe") had been appointed. The update had also looked at the insolvency procedures for both the US and the UK. This update on Lehman Brothers looks at the current progress of insolvency proceedings in these jurisdictions.

CATALIST, A SPONSOR-SUPERVISED LISTING PLATFORM ON SGX

November 2008 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

In 2006, the Monetary Authority of Singapore (“MAS”) and the Ministry of Law launched a joint public consultation on the proposed changes to the unsecured credit rules and the proposed application of these rules to moneylenders with appropriate modifications.

Proposed Exemption from Section 31 Banking Act for Stabilising Activities

November 2008 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

On 5 May 2008, the Monetary Authority of Singapore (“MAS”) released a Consultation Paper on Proposed Exemption from Section 31 Banking Act for Stabilising Activities for public comments.

SGX AMENDS CDP RULES TO ADMIT BANKS AS CLEARING MEMBERS OF ITS SECURITIES MARKET

November 2008 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

On 10 June 2008, Singapore Exchange Limited (SGX) announced that it will admit banks in Singapore as Clearing Members of its securities market with effect from 1 July 2008. The membership will allow them to offer clearing services to SGX Trading Members and their customers.

SPH, SGX AND FTSE LAUNCH NEW FTSE ST CHINA TOP INDEX

November 2008 - Finance. Legal Developments by Loo & Partners.

More articles by this firm.

On 7 July 2008, Singapore Press Holdings (SPH), Singapore Exchange (SGX) and FTSE Group (FTSE) are pleased to announce the launch of a new index within the new China index. The new China index called FTSE ST Index series that currently track the top 20 Chinese stocks listed on the Singapore Exchange.

Lehman Brother: Potential Impact and Implications

October 2008 - Finance. Legal Developments by WongPartnership.

More articles by this firm.

On 15 September 2008, Lehman Brothers Holding Inc. ("Lehman") field for protection under chapter 11 of the US Bankruptcy Code in the US. Various other Lehman group entities in the UK entered into administration proceedings under the UK Insolvency Act.

Interview with...

Law firm partners and practice heads explain how their firms are adapting to clients' changing needs

Interview with...

Law firm partners and practice heads explain how their firms are adapting to clients' changing needs

GC Powerlist -
Southeast Asia Teams