The MAS issued a Notice on Business Conduct Requirements for Corporate Finance Advisers on 21 June 2023 that, among other things, imposes a requirement on relevant persons advising on corporate finance to apply enhanced due...more
10/2/2023
/ Capital Markets ,
Corporate Finance ,
Debt Market ,
Due Diligence ,
EU ,
Financial Services Industry ,
Investment ,
Investors ,
Securities and Exchange Commission (SEC) ,
Securities and Futures Act (SFA) ,
Singapore ,
UK
The Variable Capital Company (VCC) is a new corporate entity structure under which several collective investment schemes (whether open-end or closed-end) may be gathered under the umbrella of a single corporate entity and yet...more
With effect from 7 February 2020, companies listed on the Mainboard or Catalist of the Singapore Exchange (SGX) need only carry out semi-annual financial reporting unless specific circumstances apply that warrant quarterly...more
The Singapore Exchange (SGX) has amended the Listing Rules to enhance disclosures in relation to various transactions. The transactions affected include the provision of loans, guarantees and other forms of financial...more
The Singapore Exchange (SGX) has amended the Listing Rules with effect from 7 February 2020 to enhance the continuing disclosure requirements. The amendments highlight the need to consider whether information is...more
Singapore Exchange Regulation (SGX RegCo) issued a Consultation Paper on Enhancements to the Regulatory Regime for Property Valuation and Auditors on 16 January 2020....more
In a recent case, the High Court had to consider whether to apply a moratorium to the enforcement of a share charge taken over the shares in a Singapore company where that company was subject to insolvency proceedings in the...more
The Monetary Authority of Singapore (MAS) has issued three new consultations each dealing with different aspects of the regulation of digital payment tokens (DPTs) under the Payment Services Act (PSA). It has also recently...more
In Heince Tombak Simanjuntak & Ors v Paulus Tannos & Ors (2019), the Singapore High Court granted recognition of Indonesian bankruptcy orders made against the four respondents, each of whom is an Indonesian citizen. This...more
In The Enterprise Fund III Ltd & Ors v OUE Lippo Healthcare Ltd (2019), the Singapore Court of Appeal held that where a company that had been given a standby credit facility in order to buy shares in itself, the entire...more
The Variable Capital Company (VCC) is a new corporate entity structure under which several collective investment schemes (whether open-end or closed-end) may be gathered under the umbrella of a single corporate entity and yet...more
The SGX has amended the voluntary delisting regime. Among other things, exit offers must be both fair and reasonable and the offeror and parties acting in concert with it may not vote. The changes are intended to afford...more
The MAS recently issued Guidelines on Provision of Financial Advisory Services, which set out the approach of the MAS to determining whether a person is providing financial advisory services in Singapore. In a separate...more
Organisations will need to start planning for how to deal with data portability requests. A number of other jurisdictions already require organisations to transmit personal data held by that organisation to another if so...more
Ensuring compliance with the MAS’s proposed Guidelines on Individual Accountability and Conduct will be a non-trivial exercise. While non-prescriptive in nature, FIs will need to conduct a proper and systematic analysis of...more
In Asplenium Land v Lam Chye Shing (2019), the Singapore High Court had to consider whether emails to and from a person acting as a company’s legal counsel were protected by legal advice privilege where that person had been...more
In Re Zetta Jet Pte Ltd (2019), the Singapore High Court held that the Centre of Main Interest (COMI) of a Singapore-incorporated company was the US. It noted that a company’s jurisdiction of incorporation could be displaced...more
The MAS is proposing changes to requirements for outsourcing arrangements by banks and merchant banks. The proposals will extend requirements on outsourcing to a wider range of outsourcing arrangements as well as enhance the...more
The Variable Capital Companies Act 2018 is expected to come into force in the second half of 2019. The MOF is currently consulting on the GST and stamp duty treatment of sub-funds in a VCC. It is proposed that for these...more
Financial advisers from Singapore, Malaysia, the Philippines and Thailand can apply to provide financial advisory services in each others’ jurisdictions pursuant to the ACMF Pass. In a separate development, the MAS is...more
The Takeover Code has been amended to provide that where changes in the number of votes of multiple vote shares in a dual class shares company results in a shareholder coming under an obligation to make a general offer for...more
A new Payment Services Bill tabled in Parliament sets out the MAS’s proposed licensing framework for providers of payment service activities. The three categories are: Money-Changing Licensee, Standard Payment Institution and...more
The SGX is proposing various amendments to the voluntary delisting regime. In a separate consultation, it is also proposing removing the power of the Listings Advisory Committee to look into applications not referred to it....more
Re IM Skaugen SE [2018] SGHC 259 (27 November 2018) is an important first decision on the moratorium provisions of the new scheme of arrangement sections of the Companies Act. The High Court had a practical commercial...more
Banks will need to include bail-in recognition provisions in certain regulatory capital instruments not governed by Singapore law. New approval and notification requirements also applied to banks as from 30 November 2018....more