Legal Updates

On 9 September 2024, the Multinational Enterprise (Minimum Tax) Bill (“MNE Bill”) and the Income Tax (Amendment) Bill 2024 (“ITA Bill”) (collectively, the “Bills”) were first read in Parliament.

The Ministry of Sustainability and the Environment (“MSE“) and the Singapore Food Agency (“SFA“) will be introducing the Food Safety

Singapore has seen a rise in incidents of scams, particularly cases involving the voluntary transfer of monies by the victim to the scammer.

On 10 September 2024, the Platform Workers Bill was passed in Parliament, with the intention for it to come into

The Casino Control (Amendment) Bill (“CCA Bill“), introduced  by the Ministry of Home Affairs (“MHA“) for First Reading in Parliament

It has often been said that an unconditional on-demand bond is “as good as cash”, and that the bond issuer (usually a bank) must pay the specified sum to the beneficiary upon receipt of a compliant demand.

On 26 August 2024, the Accounting and Corporate Regulatory Authority (“ACRA“) announced that alternate addresses in ACRA’s public records will be

The Monetary Authority of Singapore has published an information paper on “Cyber Risks Associated with Generative AI”.

On 20 August 2024, the Building and Construction Authority (“BCA“) launched a public consultation titled “Raising Competencies and Enhancing Safety in

In December 2023, the Monetary Authority of Singapore (“MAS”) extended the scope of due diligence checks to a wider group of individuals and entities associated with family offices who are applying for tax incentives.

The updated national Operational Technology Cybersecurity Masterplan (“OT Masterplan 2024“) was launched by Mrs Josephine Teo, Minister for Digital Development

Artificial Intelligence (“AI”), while holding great potential for efficiency and innovation, also carries certain inherent threats such as vulnerability to cyber security risks.

On 26 July 2024, the Monetary Authority of Singapore announced that it will implement: (i) refinements to the tier structure requirements together with certain exclusions from the same; and (ii) remuneration prohibitions relating to volume-based incentives, for financial advisory firms.

From 15 August 2024 to 14 September 2024, the Monetary Authority of Singapore (“MAS“) conducted a public consultation on its

The Monetary Authority of Singapore issued a consultation paper seeking comments on its proposals to: (i) simplify the leverage requirements for real estate investment trusts (“REITs”); and (ii) require REITs to perform and disclose sensitivity analyses on the impact of changes in EBITDA and interest rates on their interest coverage ratio (ICR) in their interim financial results and annual reports

The Intellectual Property Office of Singapore (“IPOS“) has issued Circular No. 3/2024: Simplified Requests for Examination Reports and Other Legislative

On 26 July 2024, the Monetary Authority of Singapore issued the Circular titled “Establishing the Sources of Wealth of Customers” (Circular No.: AMLD 08/2024).

On 9 August 2024, the ASEAN Taxonomy Board (“ATB“) released the ASEAN Taxonomy for Sustainable Finance, Supplementary Document: Foundation Framework

When a principal engages an agent to bring about a transaction, many would reasonably assume that to claim their commission, the agent should have been the effective cause of, or minimally have done some work on, the transaction

The Guidelines on Licensing for Payment Service Providers (PG-G01) issued by the Monetary Authority of Singapore were revised recently to include new requirements for licence applications under the Payment Services Act 2019.

On 6 August 2024, the Building Control (Amendment) Bill (“Bill“) was introduced in Parliament. The Bill was subsequently passed by

On 20 August 2024, the Building and Construction Authority (“BCA“) issued a Consultation Paper titled “Proposed Enhancements to Regulatory Regime for

On 6 August 2024, the Energy Transition Measures and Other Amendments Bill (“Bill“) was introduced for First Reading in Parliament,

Food wastage and food insecurity are growing issues in Singapore. To provide a remedy to these twin problems, the Good

On 5 August 2024, the Monetary Authority of Singapore (“MAS“) published a Consultation Paper on Proposed Measures in Relation to the

On 31 July 2024, the Singapore Economic Development Board (EDB) and IETA (formerly the International Emissions Trading Association) announced the

Singapore and the United States (“US“) have announced the conclusion of a bilateral Digital Economic Cooperation Roadmap (“Roadmap“) on 31

On 1 August 2024, phase two of the Criminal Procedure (Miscellaneous Amendments) Act 2024 (“Amendment Act“) came into effect. The

On 31 July 2024, the Monetary Authority of Singapore (“MAS”) published the “Consultation Paper on Proposed Legislative Amendments to the Requirements for Enhancing Pre and Post-Transaction Safeguards for Retail Clients” (“Consultation Paper”).

The Personal Data Protection Commission (“PDPC”) has launched a Proposed Guide on Synthetic Data Generation (“Guide”) to help organisations understand Synthetic Data (“SD”) generation techniques and potential use cases. The Guide will be offered as a resource within the Privacy Enhancing Technology (“PET”) Sandbox.

On 1 July 2024, the Bank for International Settlements (“BIS”) and partners announced the completion of phase 3 of Project Nexus, which will allow ready participants to work towards the next stage of seamlessly connecting their instant payment systems (“IPS”).

In Foreland Singapore Pte. Ltd. & Anor v IG Asia Pte. Ltd. [2024] SGHC 179, the Court considered a claim for notional profits earned by the two plaintiffs (collectively, “Foreland”) on certain closing nickel contract-for-differences (CFD) trades (“FCTs”) done on 8 March 2022 following an extraordinary surge in nickel prices, which the defendant (“IGA”) had automatically put through to its central risk management entity (“IGM”) in London.

The Ministry of Trade and Industry (“MTI”) announced the conclusion of negotiations on the European Union (“EU”)-Singapore Digital Trade Agreement (“EUSDTA”) on 25 July 2024.

In Re: Xerxes J Medora [2024] SGHC 196, the Singapore Court considered a novel question on the administration of bankruptcy estates: is a claim against a bankrupt for breach of fiduciary duty a provable debt in bankruptcy?

In Banque de Commerce et de Placements SA, DIFC Branch & Anor v China Aviation Oil (Singapore) Corporation Ltd [2024] SGHC 145, the Singapore High Court considered a claim based on a letter of credit (“LC”), in which a branch of the bank issuing the LC sought to claim against the beneficiary of the LC for moneys paid out under the LC, alleging that the underlying transaction was a sham transaction.

On 31 May 2024, at the Asia Tech x Singapore (ATxSG) 2024, Singapore’s Minister for Communications and Information, Mrs Josephine Teo, launched the AI Verify Project Moonshot (“Project Moonshot”), an easy-to-use testing toolkit designed to address security and safety challenges often associated with the use of large language models (“LLMs”). It is one of the world’s first open-sourced tools to bring together red-teaming, benchmarking, and baseline testing in one platform.

From 1 January 2025, companies that import or export waste electrical and electronic equipment (“WEEE”) and its components (“e-waste”), or whose e-waste transits through Singapore, will be required to (i) carry out the Prior Informed Consent (“PIC”) procedure specified under the Basel Convention, and (ii) obtain a Basel Permit from the National Environment Agency’s (“NEA”) Chemical Control and Management Department (“CMCD”), which serves as the competent authority (“CA”) for Singapore under the Basel Convention.

On 24 June 2024, the Ministry of Trade and Industry (“MTI”) and the Energy Market Authority (“EMA”) issued their Consultation Outcome following a consultation exercise that ran from 8 May to 5 June 2024.

The Bioethics Advisory Committee (“BAC”) has launched a public consultation on the ethical, legal, and social issues arising from Human Nuclear Genome Editing (“HNGE”). The public consultation runs from 3 June 2024 to 13 August 2024.

On 12 June 2024, the Monetary Authority of Singapore (“MAS”) and the Bank for International Settlements (“BIS”) announced that through Project Viridis, they have developed a blueprint for a climate risk platform that financial authorities can use to draw nascent insights on climate-related financial risks faced by financial institutions as well as potential systemic stability.

On 20 June 2024, the Monetary Authority of Singapore (“MAS”), Ministry of Finance (“MOF”), and Ministry of Home Affairs (“MHA”) published the updated Money Laundering (“ML”) National Risk Assessment (“ML NRA 2024”).

With effect from 1 July 2024, couples can opt to cite divorce by mutual agreement (“DMA”) as a sixth fact of divorce as the relevant sections of the Women’s Charter (Amendment) Act 2022 (“Act”) have now come into force.

On 27 June 2024, the Monetary Authority of Singapore (“MAS”) announced that it is expanding its initiatives to scale asset tokenisation for financial services.

The Misuse of Drugs Act 1973 (“MDA”) and the Constitution of the Republic of Singapore (“Constitution”) were amended by the Misuse of Drugs (Amendment) Act 2023 (“MDA Amendment Act”) and the Constitution of the Republic of Singapore (Amendment) Act 2021 (“Constitution Amendment Act”), respectively (see the Misuse of Drugs (Amendment) Bill and the Constitution of the Republic of Singapore (Amendment) Bill).

On 15 July 2024, the Singapore Exchange Regulation (“SGX RegCo”) issued a Regulator’s Column titled “Potential scenarios when general offers lead to loss of public float” (“Column”).

In Kiri Industries Limited v Senda International Capital Limited & Anor [2024] SGHC(I) 15, the Singapore International Commercial Court (“SICC”) upheld the principle that when a Chinese national resident in the People’s Republic of China (“PRC”) is to be examined under an examination of judgment debtor order (“EJD Order”), the relevant treaty procedure should be followed, rather than by allowing the EJD Order to be served on him out of jurisdiction in the PRC.

As part of efforts to strengthen Singapore’s anti-money laundering regime, the Accounting and Corporate Regulatory Authority has introduced a number of legislative amendments to the corporate compliance framework, which were passed in Parliament on 2 July 2024.

On 12 July 2024, the Beverage Container Return Scheme (“Scheme”) under the new Part 4B of Resource Sustainability Act 2019, as introduced by the Resource Sustainability (Amendment) Act 2023, came into force.

On 19 June 2024, the Singapore Exchange Regulation issued the “Guidance Note on Change of Auditors” setting out its approach towards assessing an application by an issuer listed on SGX-ST (“issuer”) for a change of auditors (“Application”).

Mandatory climate reporting requirements are set to commence in a phased approach from financial year (“FY”) 2025, as announced by Second Minister for Finance, Mr Chee Hong Tat, at the Ministry of Finance Committee of Supply speech in February 2024.

Amendments to the licensed general builder and licensed specialist builder framework are set to come into operation on 15 June 2024.

On 2 August 2023, Parliament passed the Oaths, Declarations and Notarisations (Remote Methods) Act 2023 to, among other things, provide individuals, businesses, and service providers who are executing statutory declarations, with the option of remote witnessing (in place of an in-person meeting) and electronic signing (in place of wet-ink signing) as long as both the declarant and service provider are physically present in Singapore.

On 1 March 2024, the revised Free Trade Zones (“FTZ”) regime took effect. Singapore Customs has now issued Circular No: 03/2024 which provides updates and more information on the submission requirements of the Bill of Lading (“BL”) data for both containerised and non-containerised sea cargo, and clarifications to frequently asked questions pertaining to the submission of BL data.

On 6 August 2024, the Anti-Money Laundering and Other Matters Bill (“AML Bill”) was introduced for Second Reading in Parliament and was passed

On 6 August 2024, the Land Surveyors (Amendment) Bill 2024 (“Bill”) was passed in Parliament.

In February 2024, a suite of tax measures was announced in Singapore’s Budget 2024, including the upcoming implementation of Pillar Two of the Base Erosion and Profit Shifting 2.0 on 1 January 2025.

The Significant Investments Review Act 2024 (“Act”), which came into force on 28 March 2024, sets out a new investment management regime that applies to both local and foreign investors for entities that are critical to Singapore’s national security interests.

On the Cutting Edge of AI Governance – Singapore Launches Model AI Governance Framework for Generative AI, Develops Digital Forum of Small States AI Governance Playbook

On 30 May 2024, the Monetary Authority of Singapore updated the “Guidelines on Fair Dealing – Board and Senior Management Responsibilities for Delivering Fair Dealing Outcomes to Customers”.

On 30 May 2024, at the ATxSummit, Deputy Prime Minister Mr Heng Swee Keat launched the Green Data Centre (“DCs”) Roadmap to guide digital sustainability and to chart green growth pathways for DCs.

Amendments to the licensed general builder and licensed specialist builder framework are set to come into operation on 15 June 2024.

In Nicholas Eng Teng Cheng v Government of the City of Buenos Aires [2024] SGCA 15, the Singapore Court of Appeal considered the proper law to determine whether to lift the corporate veil of a Singapore-incorporated company that entered into a contract governed by foreign law – is it the law of incorporation or the governing law of the contract?

In this Sustainability Update, we explore briefly the issues surrounding a particular type of backsheet material, commonly used in solar panels, which has given rise to quality issues and purchasers’ potential legal recourses.

The Competition and Consumer Commission of Singapore is seeking public feedback on its proposed recommendation to renew the Competition (Block Exemption for Liner Shipping Agreements) Order for five years from 1 January 2025 to 31 December 2029.

On 7 May 2024, the Companies and Limited Liability Partnerships (Miscellaneous Amendments) Bill and the Corporate Service Providers Bill were introduced in Parliament for their first reading.

The Accounting and Corporate Regulatory Authority (Registry and Regulatory Enhancements) Bill was introduced in Parliament for its first reading on 7 May 2024.

When seeking to resolve a dispute, parties generally aim for a full and final resolution to the dispute. In arbitration, this takes the form of a final arbitral award.

On 10 May 2024, the provisions in the Financial Services and Markets Act 2022 (“FSMA”) which empower the Monetary Authority of Singapore (“MAS”) to impose harmonised technology and risk management (“TRM”) requirements on all financial institutions (“FIs”) took effect.

In Singapore, specified financial institutions which are licensed in Singapore and significant derivatives holders are subject to reporting obligations relating to over-the-counter derivatives contracts provided in Part 6A of the Securities and Futures Act 2001 (“OTC Derivatives Reporting Regime”), unless they are exempted. Details of the reporting obligations are set out in the Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013 (“SF(RDC)R”).

On 1 May 2024, the Prevention of Proliferation Financing and Other Matters Act 2024 (“Act”) came into operation.

Environmental crimes, such as illegal wildlife trafficking and illegal logging, disrupt and harm our environment and eco-system with far-reaching and long-term impact for future generations.

The Digital Enterprise Blueprint (“DEB”) was launched at Asia Tech x Singapore 2024 on 29 May 2024 by Mr Tan Kiat How, Senior Minister of State for Communications and Information.

On 8 May 2024, the Ministry of Trade and Industry (“MTI”) and Energy Market Authority (“EMA”) announced that they are seeking public feedback on the proposed legislative amendments to the Energy Market Authority of Singapore Act 2001, Electricity Act 2001 (“Electricity Act”), and Gas Act 2001 (“Gas Act”).

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

On 23 April 2024, the Singapore Exchange Regulation issued a Consultation Paper on “Facilitating Shareholder-Requisitioned Meetings” to seek feedback on its proposed changes to the SGX-ST Listing Rules (Mainboard) and SGX-ST Listing Rules (Catalist).

In DGE v DGF [2024] SGHC 107, the claimant DGE advanced eight grounds for setting aside an arbitral award in the defendant DGF’s favour, that the photovoltaic modules (solar panels) supplied by DGE were inherently defective. The High Court dismissed each of these grounds in declining to set aside the award.

Merger notifications in Singapore are necessary where thresholds are close to being or are crossed. A failure to notify can result in investigations and if a substantial lessening of competition (SLC) is found, penalties and remedies can be imposed.

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

The Free Trade Zones (Amendment) Act 2023 (“Amendment Act“) and related subsidiary legislation came into operation on 1 March 2024.

Charities and Institutions of a Public Character (IPCs) (collectively, “Charities“) must adapt to changing environments and manage risks amid global

The Ministry of Law (“MinLaw“) and the Intellectual Property Office of Singapore (“IPOS“) are seeking comments on situations in which

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

In a much-needed step to clarify the new normal, on 16 April 2024, the Ministry of Manpower launched the Tripartite Guidelines on Flexible Work Arrangement Requests (FWA Guidelines).

On 4 April 2024, the Payment Services (Amendment) Act 2021 came into effect, revising the Payment Services Act 2019 in these main areas: (i) broadening the definition of “digital payment token” (“DPT”) services; (ii) widening the definition of “cross-border money transfer” services; and (iii) empowering the Monetary Authority of Singapore to impose additional measures to regulate DPT service providers to enhance consumer protection and maintain financial stability.

The Cyber Security Agency of Singapore has introduced the Cybersecurity (Amendment) Bill to keep pace with emerging threat factors and operational practicalities.

On 1 April 2024, the Monetary Authority of Singapore launched COSMIC (Collaborative Sharing of Money Laundering / Terrorism Financing Information & Cases), the first centralised digital platform to facilitate the sharing of customer information among prescribed financial institutions to combat money laundering, terrorism financing, and proliferation financing globally.

Introduced in 2019, InvoiceNow is a nation-wide e-invoicing network which enables businesses to easily send and receive invoices in a

Many Singapore Exchange Securities Trading Limited (“SGX-ST”) listed issuers have their financial year-end in December, and the peak period in which issuers schedule their annual general meeting (“AGMs”) typically is the second half of April (two weeks preceding the deadline in April for holding of AGMs).

On 15 April 2024, Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations, Ms Grace Fu, announced that

On 28 March 2024, the Monetary Authority of Singapore issued its Response to feedback received on the Consultation Paper on the Repeal of Regulatory Regime for Registered Fund Management Companies (RFMCs).

In an age where commercial disputes frequently span multiple jurisdictions, litigants may find themselves seeking to obtain the participation of parties located abroad, or to obtain evidence from parties in foreign jurisdictions..

When a former employee leaves his erstwhile employer to join a rival company, should the erstwhile employer be allowed to maintain the interim injunctions it obtained against the former employee, on the basis of a non-compete clause and a confidentiality clause (in the employment contract between the former employee and the erstwhile employer)?

On 28 March 2024, the Significant Investments Review Act 2024 (“Act”) and subsidiary legislation under the Act, the Significant Investments Review Regulations 2024 and Significant Investments Review (Reviewing Tribunal) Rules 2024, came into force.

The Mental Capacity (Amendment) Bill (“Bill“) was introduced in Parliament on 6 March 2024, and had its second reading on

On 4 March 2024, the Ministry of Manpower (“MOM”) announced the next increment in the retirement and re-employment ages effective in 2026

On 4 March 2024, the Ministry of Manpower (“MOM”) announced updates to its foreign workforce policies.

Tax liability insurance products fully or partially indemnify the insured’s tax risks, offering coverage for scenarios such as tax liabilities imposed by tax authorities, defence costs against tax claims, and gross-up taxes on proceeds.

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

On 27 March 2024, the ASEAN Taxonomy Board (“ATB“) announced the release of the ASEAN Taxonomy for Sustainable Finance Version

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

Introduced in 2019, InvoiceNow is a nation-wide e-invoicing network which enables businesses to easily send and receive invoices in a

On 28 March 2024, the Significant Investments Review Act 2024 (“Act”) and subsidiary legislation under the Act, the Significant Investments Review Regulations 2024 and Significant Investments Review (Reviewing Tribunal) Rules 2024, came into force.

Many Singapore Exchange Securities Trading Limited (“SGX-ST”) listed issuers have their financial year-end in December, and the peak period in which issuers schedule their annual general meeting (“AGMs”) typically is the second half of April (two weeks preceding the deadline in April for holding of AGMs).

The Business Trusts (Amendment) Act 2022 contains changes to the Business Trusts Act 2004 which governs the registration and regulation of registered business trusts (BTs).

The AML/CFT Industry Partnership, led by the Association of Banks in Singapore (“ABS”), has published the Industry Perspectives on Best Practices – Leveraging on Data Analytics and Machine Learning Methods for AML/CFT (“Paper”).

In Alternative Advisors Investment Pte Ltd v Asidokona Mining Resources Pte Ltd & Anor [2024] SGCA 3, the Singapore Court of Appeal (comprising Sundaresh Menon CJ, Steven Chong JCA and Belinda Ang JCA) considered an “unusual” and “unique” case with “several layers of complexity” in relation to the doctrine of ratification.

Modern day commercial transactions are typically executed by agents (usually, directors) on behalf of their principals.

On 21 March 2023, the Misuse of Drugs (Amendment) Bill 2023 (“MDA Bill”) and the Constitution of the Republic of Singapore (Amendment) Bill (collectively, “Bills”) were passed.

On 22 March 2024, the Singapore Exchange Regulation Pte. Ltd. (“SGX RegCo”) issued a Consultation Paper on its proposals to revise existing limits on the liability of clearing members to meet default losses, particularly where losses arise from multiple events of default (“multiple defaults”).

On 20 March 2024, the Monetary Authority of Singapore (“MAS”) issued Circular No. ID 05/24 on its Response to feedback (“Response”) received on the Consultation Paper on Amendments to the Insurance Act 1966 (“IA”) and the Insurance (Intermediaries) Regulations (“IIR”) (“Consultation Paper”).

On 12 March 2024, the Ministry of Finance and the Accounting and Corporate Regulatory Authority jointly issued a consultation on: (i) the draft Companies and Limited Liability Partnerships (Miscellaneous Amendments) Bill; and (ii) the new draft Corporate Service Providers Bill

The Ministry of Sustainability and the Environment (“MSE”) and the Singapore Food Agency (“SFA”) will be introducing the Food Safety and Security Bill (“Bill”) which aims to enhance Singapore’s food safety and security regime and safeguard food supply resilience.

On 28 February 2024, the Accounting and Corporate Regulatory Authority and Singapore Exchange Regulation (“SGX RegCo”) announced details of mandatory climate-related disclosure for: (1) issuers listed on the SGX-ST (“listed issuers”) from financial year (“FY”) 2025; and (2) large non-listed companies limited by shares with annual revenue of at least S$1 billion and total assets of at least S$500 million (“Large NLCos”) (unless exempted) from FY 2027, as part of a finalised climate reporting and assurance implementation roadmap set out in the Response paper.

The Singapore Exchange Regulation is seeking comments on its proposed changes to the SGX Listing Rules (Mainboard) and SGX Listing Rules (Catalist) to clarify the obligations of issuers listed on SGX-ST undergoing the corporate restructuring process under Insolvency, Restructuring and Dissolution Act 2018 of Singapore, and to streamline the application process for trading resumption by suspended issuers.

The National Council of Social Service (“NCSS”) has launched a public consultation to seek feedback on the Sustainable Philanthropy Framework (“Framework”).

On 5 March 2024, the Ministry of Finance and the Accounting and Corporate Regulatory Authority jointly issued a Consultation Paper on “Proposed Legislative Amendments Relating to Digital Communications and Regulatory Enhancements” to seek comments on the draft ACRA (Registry and Regulatory Enhancements) Bill (“Bill”).

The case of Public Prosecutor v Gumede Sthembiso Joel [2024] SGHC 23 involved the illegal transport of rhinoceros horns by the Respondent, for which he was charged with assisting another to retain the benefits from criminal conduct under section 51(1)(a) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992.

On 2 April 2024, the Goods and Services Tax (Amendment) Bill (“Bill”) was passed in Parliament.

In general, only the parties to an arbitration may participate in proceedings to enforce the resulting arbitral award. Are there exceptions to this? If so, under what circumstances can a third party apply to be added to the enforcement proceedings?

On 4 March 2024, the Ministry of Manpower (“MOM”) announced the next increment in the retirement and re-employment ages effective in 2026.

On 4 March 2024, the Ministry of Manpower (“MOM”) announced updates to its foreign workforce policies.

The Singapore Geospatial Masterplan (2024-2033) (“Masterplan”) was launched on 6 March 2024 at the Geo Connect Asia 2024 opening ceremony by Mr Edwin Tong, Minister for Culture, Community and Youth, and Second Minister for Law.

The Mental Capacity (Amendment) Bill (“Bill”) was introduced in Parliament on 6 March 2024, and had its second reading on 2 April 2024.

Competition benefits consumers. However, there may be instances where business competitors need to collaborate for the greater, or greener, good.

On 1 March 2024, the Singapore Personal Data Protection Commission (“PDPC”) published the Advisory Guidelines on the Use of Personal Data in AI Recommendation and Decision Systems (“Guidelines”).

In Logistics Construction Pte Ltd [2024] SGHC 58, the Singapore High Court considered whether a company should be placed under judicial management and whether the judicial manager nominated by the company should be appointed.

The rapid growth of artificial intelligence (“AI”) has shone a light on the pressing need to manage its development and inherent risks.

On 29 February 2024, the Health Sciences Authority issued a public consultation on the proposed amendments to Regulation 23 of the Health Products (Therapeutic Products) Regulations on the registration of therapeutic products.

In the course of bankruptcy proceedings, the disposition of property by the bankrupt is subject to a degree of control and restriction, requiring the consent or ratification of the Court.

In Farzin Ratan Karma v Helen Campos & 2 Ors [2024] SGHC 41, which centred on issues of conflict in business relationships, the Singapore High Court had to determine a claim for commercially unfair and oppressive acts, as well as a counterclaim for breach of fiduciary duties owed as director

On 19 February 2024, the ASEAN Taxonomy Board shared the updated ASEAN Taxonomy for Sustainable Finance Version 2 (“ASEAN Taxonomy v2”), effective from even date.

On 16 February 2024, Deputy Prime Minister and Minister for Finance, Mr. Lawrence Wong, delivered the Budget speech in Parliament for the approval of the financial policy of the Government for the financial year 1 April 2024 to 31 March 2025. Several policies were introduced, including changes to the Additional Buyer’s Stamp Duty (“ABSD”) regime, and adjustments to the property tax (“PT”) rates.

The Financial Institutions (Miscellaneous Amendments) Bill 2024 was passed on 7 March 2024 to enhance and streamline the Monetary Authority of Singapore’s investigative, reprimand, supervisory and inspection powers across various MAS-administered Acts governing the financial industry.

The Budget Statement for Budget 2024 was delivered on 16 February 2024.

On 8 February 2024, the Ministry of Manpower announced that the compensation limits in the Work Injury Compensation Act will be increased from 1 November 2025.

The Computer Misuse (Amendment) Bill and the Corruption, Drug Trafficking and Other Serious Offences (Confiscation of Benefits) (Amendment) Bill were passed by Parliament on 9 May 2023.

On 7 February 2024, Enterprise Singapore (“EnterpriseSG”) and the Infocomm Media Development Authority (“IMDA”) launched the Generative Artificial Intelligence (“Gen AI”) Sandbox for small and medium-sized enterprises (“SMEs”).

On 6 February 2024, the Monetary Authority of Singapore issued the revised MAS Notice PSN05 Notice on Technology Risk Management to extend its application to include all holders of a payment services licence under the Payment Services Act 2019 that carry on a business of providing digital payment token services.

The Cyber Security Agency of Singapore (“CSA”) has provided an update on the development of an Association of Southeast Asian Nations (“ASEAN”) Regional Computer Emergency Response Team (“CERT”), which aims to enhance collective cybersecurity within the region.

The updated Joint Guide to ASEAN Model Contractual Clauses and EU Standard Contractual Clauses (“Joint Guide”) was unveiled at the 4th ASEAN Digital Ministers’ Meeting on 2 February 2024.

From 2 February 2024 to 15 March 2024, the Monetary Authority of Singapore is seeking comments on its proposals to reduce the information financial institutions need to collect when making recommendation of selected life or long-term (LT) accident and health insurance policies based on the Basic Financial Planning Guide,, subject to safeguards.

The Online Criminal Harms Act (“OCHA”), which was passed in Parliament on 5 July 2023, has partially come into force on 1 February 2024, with remaining measures slated to come into effect at a later stage.

When an experienced investor suffers losses after instructing his broker to sell his futures contracts, to what extent can the broker be held liable for his losses?

On 24 January 2024, the Infocomm Media Development Authority (“IMDA”) and the Government Technology Agency (“GovTech”) announced a set of digital sustainability initiatives aimed at greening the information and communications technology (“ICT”) sector, as well as utilising ICT to green the rest of the economy.

The Singapore Sustainable Finance Association (“SSFA”) was launched on 24 January 2024 to bring together the financial sector and industry to achieve Singapore’s transition to net zero.

When a company is being wound up, its liquidators have powers to investigate into the company’s affairs and dealings.

The AI Verify Foundation and the Infocomm Media Development Authority announced on 16 January 2024 that they have developed a draft Model AI Governance Framework for Generative AI (“Draft Framework”).

On 22 January 2024, the Ministry of Law (“MinLaw”) announced that it will extend the application period for the Simplified Insolvency Programme (“SIP”) by 24 months, from 29 January 2024 to 28 January 2026.

On 16 February 2024, the Inland Revenue Authority of Singapore (“IRAS”) (Amendment) Bill (“Bill”) was passed in Parliament to amend the IRAS Act.

On 5 February 2024, the Criminal Procedure (Miscellaneous Amendments) Bill (“Bill”) was passed in Parliament to introduce several significant amendments to the Criminal Procedure Code (“CPC”).

The Prevention of Proliferation Financing and Other Matters Bill (“Bill”), introduced in Parliament on 9 January 2024, was passed on 6 February 2024.

On 8 January 2024, the Ministry of Health (“MOH”) launched an industry consultation for a new not-for-profit private acute hospital model. Interested private healthcare operators who wished to participate in the consultation were given until 21 January 2024 to register.

On 9 January 2024, the Significant Investments Review Bill (“Bill”) was read for a second time and passed.

Does a parent’s absence from a child’s life warrant the making of a sole custody order? The case of WMR v WMQ examines the threshold for the making of sole custody orders, in particular, where parental absence is involved.

The Monetary Authority of Singapore (“MAS”) issued Notice 134 Recovery and Resolution Planning for Insurers (“Notice”) which will take effect on 1 January 2025.

The cybersecurity landscape is constantly shifting, with new threat factors emerging at an ever-accelerating rate. To keep Singapore’s legislative framework up to date, the Cybersecurity Agency of Singapore has introduced the draft Cybersecurity (Amendment) Bill.

On 19 December 2023, the Ministry of Sustainability and Environment (“MSE”) and the National Environment Agency (“NEA”) published the Eligibility List under the International Carbon Credit Framework (“ICC Framework”), which is effective from 1 January 2024.

On 15 December 2023, the Singapore Exchange Regulation (“SGX RegCo”) issued a regulator’s column titled “What SGX RegCo expects of listed issuers when allotting excess rights shares”, which set out SGX RegCo’s expectations of issuers when allotting excess rights shares in a rights issue.

Artificial intelligence has been widely employed to enhance productivity, services and products, and customer experiences by financial institutions (“FIs”), and FIs are no doubt familiar with the Monetary Authority of Singapore’s Fairness, Ethics, Accountability and Transparency (FEAT) Principles concerning the responsible use of Artificial Intelligence and Data Analytics (AIDA).

The finalised Code of Conduct for ESG Rating and Data Product Providers (“Code”) and an accompanying Checklist for providers to self-attest their compliance to the Code were published by the Monetary Authority of Singapore on 6 December 2023.

On 13 December 2023, the Ministry of Health (“MOH”) announced that the Tripartite Workgroup for the Prevention of Abuse and Harassment of Healthcare Workers (“Workgroup”) has launched the Tripartite Framework for the Prevention of Abuse and Harassment in Healthcare (“Framework”).

While the adoption of artificial intelligence (AI) technology by governments and businesses has been swift and widespread, there remain certain barriers to the implementation of AI solutions, particularly in the cross-border context.

At the COP28 Singapore Pavilion Finance Day on 3 December 2023, Monetary Authority of Singapore launched the first version of the Singapore-Asia Taxonomy for Sustainable Finance and a Transition Credits Coalition (TRACTION), among other transition financing initiatives.

The Foreign Interference (Countermeasures) Act (“FICA”) was passed in Parliament in October 2021 to enhance the Government’s ability to prevent foreign interference in domestic politics conducted through: (i) hostile information campaigns (“HICs”); and (ii) the use of local proxies.

From 11 December 2023 to 11 January 2024, the Ministry of Health (“MOH”) conducted a public consultation seeking views on the proposed Health Information Bill (“HIB”).

The Monetary Authority of Singapore (“MAS”) will be imposing requirements on financial institutions (“FIs”) to conduct and respond to reference checks on a minimum set of standardised information.

The Electric Vehicles Charging Bill 2022 was passed in Parliament on 30 November 2022 to regulate the safe charging of electric vehicles (“EVs”), ensure the provision of reliable EV charging services by requiring EV charging operators (“EVCOs”) to be licensed, and to expand the network of accessible charging infrastructure in Singapore.

The meteoric rise of artificial intelligence (“AI”) has been one of the loudest headlines of the past year, with the initial hype quickly translating into real-world impact. As governments and businesses race to fully explore and adopt AI solutions, industry stakeholders have begun looking further into the future of AI.

On 4 December 2023, the Infocomm Media Development Authority (“IMDA”) announced that it would be partnering with AI Singapore and the Agency for Science, Technology and Research to launch the National Multimodal Large Language Model Programme (“NMLP”).

Under the new online platform, Collaborative Sharing of Money Laundering/Terrorism Financing (ML/TF) Information & Cases (“COSMIC”), prescribed financial institutions (i.e. banks in Singapore or financial institutions (other than a bank) that are prescribed under subsidiary legislation) (“prescribed FIs”) can securely share with one another information on a “relevant party” who exhibits multiple “red flags” that may indicate potential financial crime concerns, if stipulated thresholds are met.

The Financial Services and Markets Act 2022 was amended earlier this year to, among other things, establish a new electronic

On 30 November 2023, the ASEAN Taxonomy Board (“ATB”), representing ASEAN finance sectoral bodies, announced the completion of targeted stakeholder consultation exercises for Version 2 of the ASEAN Taxonomy for Sustainable Finance (“ASEAN Taxonomy”).

The rules surrounding the service of documents aim to ensure that such documents come to the attention of the party

On 24 November 2023, the Ministry of Health (“MOH“) issued a circular announcing the commencement of Phase 3 of the

Disagreements as to the existence of contractual terms frequently occur between contracting parties. In Lim Siau Hing @ Lim Kim Hoe and another v Compass Consulting Pte Ltd and another appeal [2023] SGCA 39, the Court of Appeal was required to determine two related appeals concerning whether a specific term formed part of the agreement between the parties.

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

Most of us are familiar with “Champagne” or “Bordeaux” wines. These are known as Geographical Indications (“GI“), which are signs

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

Greenwashing has gained considerable prominence in recent times. This naturally followed the growth and importance of environmental sustainability in the

Trust is at the core of most, if not all, successful ventures, initiatives and relationships. This human concept extends to

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

At the Singapore FinTech Festival, Mr Ravi Menon, Managing Director of the Monetary Authority of Singapore (“MAS“), shared the key

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

As digital payments and transactions continue their rapid growth, so too has the risk posed by digitally-enabled scams. The Singapore regulators have sought to implement greater certainty in this regard by introducing relevant frameworks and guidelines. The Monetary Authority of Singapore and the Infocomm Media Development Authority are now looking to establish specific measures to address the responsibilities, duties and liability of the relevant parties – in particular, financial institutions and telecommunication operators.

The Singapore Quick Response Code (“SGQR“) is a single standardised quick response (“QR“) code for e-payments and combines multiple payment

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

Collective Management Organisations (“CMOs“) perform a vital role in Singapore’s creative sector by acting as a conduit between content rights

The UNCITRAL Model Law on Cross-Border Insolvency, which has been enacted in Singapore in an adapted form (“SG Model Law“),

On 3 April 2024, the Ministry of Transport (“MOT“) introduced the Transport Sector (Critical Firms) Bill (“Bill“) in Parliament. The

On 24 October 2023, the Monetary Authority of Singapore (“MAS“) published the Consultation Paper on Repeal of Regulatory Regime for

On 19 October 2023, the first live digital trade between China and Singapore was completed by Singapore’s Infocomm Media Development

On 17 October 2023, the Cyber Security Agency of Singapore (“CSA“) and the Cloud Security Alliance launched two Cloud Security

On 7 November 2023, the Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill (“Bill“) was passed in Parliament. The

On 24 October 2023, the initial findings from the first phase of the joint Feasibility Study on Regional Energy Connectivity (“Study”) were announced in a Joint Ministerial Statement by the Ministry of Trade and Industry (“MTI”), Energy Market Authority of Singapore (“EMA”), and the United States (“US”) Department of Energy (“DOE”).

On 30 October 2023, the Monetary Authority of Singapore (“MAS“) announced that it is collaborating with the Financial Services Agency

Since the outbreak of COVID-19, commercial parties in the shipping industry have increasingly incorporated clauses dealing with infectious diseases into

The 39th ASEAN Capital Markets Forum (“ACMF“) Meeting made several inroads in driving transition towards sustainable capital markets in the

On 4 October 2023, the Free Trade Zones (Amendment) Bill 2023 (“Bill“) was passed in Parliament. The Bill amends the

Representatives appointed by capital markets intermediaries and financial advisers to conduct regulated activities under the Securities and Futures Act (“SFA“)

On 4 October 2023, the Ministry of Sustainability and the Environment and the National Environment Agency shared a set of

On 13 October 2023, the Consumers Association of Singapore (“CASE“) launched the CaseTrust Accreditation Scheme for E-businesses (“e-CaseTrust scheme“) to

Over the years, Singapore’s investments in startups, research and innovation have transformed it into a technology and startup hub not

On 29 September 2023, the Monetary Authority of Singapore (“MAS”) issued a consultation paper to seek comments on the following key proposals to augment the resolution regime for the insurance sector.

On 21 September 2023, the Singapore Exchange Regulation (“SGX RegCo”) issued a Consultation Paper titled “Proposed changes to the Futures Trading Rules and other rulebooks”.

Under Singapore law, claimants are required to bring certain types of actions within six years of the accrual of their

The Singapore Exchange (“SGX Group“) identifies green, social and sustainability (“GSS“) bonds listed on the SGX-ST that meet recognised standards

In October last year, the Monetary Authority of Singapore (“MAS“) issued a Consultation Paper on its proposed framework for Domestic

In commercial contracts, it is not uncommon to find provisions allowing for contractual discretion on the part of one or more parties. While such provisions give a certain amount of decision-making power to the party that has been conferred the discretion, they are not without limit.

As the global economy becomes increasingly driven by innovation and intangibles, the value of an enterprise is no longer limited

On 22 September 2023, the Monetary Authority of Singapore (“MAS”) issued the first part of its Response to feedback received on the “Consultation Paper on Proposed Enhancements to the Deposit Insurance Scheme in Singapore”.

On 8 September 2023, the Singapore Exchange Regulation (“SGX RegCo“) issued the “Regulator’s Column: Developing and executing a credible climate

The Carbon Pricing Act 2018 (“CPA”) provides for, among other things, requirements relating to registration as registered persons and reportable facilities, as well as reporting and payment of tax in relation to greenhouse gas (“GHG”) emissions.

Since its establishment in 1991, the Singapore International Arbitration Centre (“SIAC“) has emerged as a leading global arbitration institution. Ranked

On 26 September 2023, the Monetary Authority of Singapore (“MAS”) and McKinsey & Company (“McKinsey”) jointly released a working paper titled “Accelerating the early retirement of coal-fired power plants through carbon credits” (“Working Paper”).

On 6 September 2023, the Ministry of Law (“MinLaw”) announced that Singapore has signed the United Nations (UN) Convention on the International Effects of Judicial Sales of Ships (“Convention”), making Singapore among the first signatories of the Convention.

The Securities and Futures (Clearing Facilities of Approved Exchanges or Recognised Market Operators) (Exemption) Regulations 2023 which came into effect on 7 September 2023, introduces an exemption from being regulated as a clearing facility under the Securities and Futures Act 2001 (“SFA”) for approved exchanges (“AEs”) and recognised market operators (“RMOs”) which provide certain clearing and settlement services in the form of limited post-trade services after the execution of a trade on its platform.

Previously, the Monetary Authority of Singapore (“MAS”) issued Circular PPD 08/2023 detailing the finalised implementation timeline for the final Basel III reforms for banks incorporated in Singapore (“Reporting Banks”).

On 7 September 2023, the Ministry of Manpower (“MOM”) announced that a new Tripartite Workgroup (“TWG”) had been formed to develop the Tripartite Guidelines on Flexible Work Arrangements (“Tripartite Guidelines”).

On 3 October 2023, the Income Tax (Amendment) Bill (“Bill”) was passed by Parliament.

Mr Jasmin Nisban, formerly the Honorary Treasurer and elected Council member of the Singapore Chess Federation, recently won a defamation

On 31 August 2023, the Singapore Exchange Regulation (“SGX RegCo“) issued the “Guidance Note on Financial Statements Disclosure” (“Guidance Note“)

On 31 August 2023, the Monetary Authority of Singapore (“MAS“) issued the “Circular on ensuring effective detection of sanctions-related risks”

Section 210 of the Companies Act 1967 provides a flexible tool for companies seeking to restructure their debts in Singapore by way of a scheme of arrangement.

On 24 August 2023, the Monetary Authority of Singapore (“MAS“) issued its Response to feedback received on the “Consultation Paper

On 15 August 2023, the Monetary Authority of Singapore (“MAS“) released the finalised regulatory framework for stablecoins regulated in Singapore

In Owner of the vessel “NAVIGATOR ARIES” v Owner of the vessel “LEO PERDANA” [2023] SGCA 20, the Singapore Court of Appeal

In ByBit Fintech Ltd v Ho Kai Xin and others [2023] SGHC 199, the Singapore High Court determined whether the crypto

The Monetary Authority of Singapore (“MAS“) has implemented the following two key changes to tax schemes related to single family

The Personal Data Protection Commission (“PDPC“) has launched a public consultation seeking views on the Proposed Advisory Guidelines on the

During the 8th UK-Singapore Financial Dialogue reported here, the United Kingdom (“UK“) and Singapore discussed, among others , working more

On 26 July 2023, the Monetary Authority of Singapore (“MAS“) announced that insurance policy owners will have online options to

On 18 October 2022, the Monetary Authority of Singapore (“MAS“) published a Consultation Paper to seek feedback on proposed changes

On 12 July 2023, the Ministry of Manpower (“MOM“) announced that the Government had accepted all eight recommendations by the

On 28 July 2023, the Monetary Authority of Singapore (“MAS“) announced that all corporate cheques will be eliminated by end-2025

On 11 July 2023, the Monetary Authority of Singapore (“MAS“) published a paper titled “Industry Perspectives on Best Practices –

On 10 August 2023, the Family Justice Courts (“FJC“) announced that it has been undertaking a comprehensive review and redesign

On 30 August 2023, Structured Certificates were listed and available for trading on the Singapore Exchange Securities Trading Limited (“SGX-ST“).

On 14 August 2023, the Ministry of Manpower (“MOM“) launched a public consultation from 14 August 2023 to 4 September

On 31 July 2023, the Monetary Authority of Singapore (“MAS“) launched a public consultation on a revised framework to manage money

Singapore laws recognise that an individual who is not formally appointed as a director of a company owes fiduciary duties

Recent years have seen the emergence of novel and complex fraudulent schemes that may not be captured by the existing

On 4 August 2023, the Ministry of Manpower announced that the Government has accepted the final set of recommendations by

The Infocomm Media Development Authority has issued the Code of Practice for Online Safety (“Code“), which took effect from 18

The Infocomm Media Development Authority has issued the Code of Practice for Online Safety (“Code“), which took effect from 18

The Personal Data Protection Commission has launched a public consultation seeking views on the Proposed Advisory Guidelines on Use of

On 17 July 2023, the Health Sciences Authority (“HSA“) announced a public consultation on new subsidiary legislation under the Health

Proposals for the Guidance Note on Business Collaborations Pursuing Environmental Sustainability Objectives (“Environmental Sustainability Collaboration GN“) have finally been introduced

On 6 July 2023, the Accounting and Corporate Regulatory Authority (“ACRA“) and Singapore Exchange Regulation (“SGX RegCo“) jointly released the

As an integral part of the Association of Southeast Asian Nations (“ASEAN“) Economic Community (AEC), the ASEAN Trade in Goods

On 19 July 2023, the Ministry of Law and the Singapore Land Authority jointly announced certain amendments to the Schedule

This development follows from the earlier “Consultation Paper on Proposed Regulatory Measures for Digital Payment Token Services” issued by MAS

Financial market participants have increasingly used Environmental, Social, and Governance (“ESG“) ratings and ESG data products for investment and capital

2023年7月5日，新加坡金融管理局宣布修改单一家族办公室基金实体根据《1947年所得税法》第13O和13U条申请免税的资格标准。这些变化旨在鼓励有意义的资本部署，促进新加坡资产和财富管理行业的发展和完善。本资讯为您整理总结了相关申请资格的主要变化。详细内容，请点击查看全文。 For more information, click here to read the full Legal Update.

On 3 July 2023, the Singapore Exchange Regulation (“SGX RegCo“) issued a set of “Guidelines on Independent Financial Advisers” (“Guide“)

The coal to green transition plays a vital role in reducing global greenhouse gas emissions. The transition will not be

As electronic transactions quickly become the new norm, Singapore’s legal system has continued to keep pace with developments in technology

On 4 July 2023, the Lease Agreements for Retail Premises Bill (“Bill“) had its first reading in Parliament. The Bill

On 5 July 2023, the Monetary Authority of Singapore announced changes to the qualifying criteria for single family office fund

On 23 June 2023, the Association of Banks in Singapore (“ABS”) launched the Trade Finance Registry (“TFR”), an industry utility that aims to securely maintain a centralised record of trade finance transactions in Singapore with data provided by participant banks.

On 27 June 2023, the Monetary Authority of Singapore (“MAS”) issued a public consultation on the proposed change11s to increase deposit insurance (“DI”) from S$75,000 to S$100,000 per depositor per DI scheme member from 1 April 2024, and improve the clarity and operational efficiency of the DI scheme. The consultation closes on 31 July 2023.

During the COVID-19 period, when in-person meetings could not be conducted, the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings) Orders

On 26 June 2023, the Healthcare Services Act 2020 (“HCSA”) was amended to implement the following key changes: Transitioning existing

A foreign company that is registered under the Companies Act 1967 (“CA“) is, unless exempted, subject to various disclosure requirements

In June 2023, the Monetary Authority of Singapore (“MAS”) announced several initiatives to support sustainable and credible transition financing solutions. We highlight some of those key initiatives below.

Earlier this year, the Singapore Parliament passed several key legislative changes to the Resource Sustainability Act 2019, one of which

The Monetary Authority of Singapore (“MAS“) reporting regime for over-the-counter (“OTC“) derivatives contracts started in 2013, and the enabling provisions

As a collaborative effort between the Association of Southeast Asian Nations (“ASEAN“) and the European Union (“EU“), the Joint Guide

In COSCO Shipping Specialized Carriers Co., Ltd. V PT OKI Pulp & Paper Mills & 2 Ors [2023] SGHC 149,

The Insolvency, Restructuring and Dissolution Act 2018 (2020 Rev Ed) allows companies intending to propose a scheme of arrangement to

On 16 May 2023, Singapore acceded to the Hague Convention of 15 November 1965 on the Service Abroad of Judicial

Amidst an increase in workplace fatalities, the Ministry of Manpower (“MOM“) announced the implementation of a Heightened Safety Period (“HSP“)

To allow various business entities to convene, hold, or conduct their general meetings despite various movement control orders during the

Preparatory to the commencement of Phase 2 of the Healthcare Services Act (“HCSA“) on 26 June 2023, the Ministry of

At the 145th International Trademark Association Annual Meeting on 17 May 2023, the Keynote Speech was delivered by Minister for

The Council for Estate Agencies (CEA) announced on 19 May 2023 that it will be implementing measures over the next

On 8 May 2023, the Monetary Authority of Singapore issued a consultation paper (“Consultation Paper“) on proposed amendments to the

The Financial Services and Markets Act (“FSMA“) was passed in Parliament on 5 April 2022. The FSMA is an omnibus

On 20 April 2023, the Family Justice Reform Bill (“Bill“) was tabled for First Reading in Parliament to amend various

On 4 April 2023, the Charity Council (“Council“) released the revised Code of Governance for Charities and Institutions of a

Under the Companies Act 1967 (“CA“) (for companies incorporated in Singapore) and the SGX-ST Listing Rules, issuers are required to

Section 176(1) of the Companies Act 1967 (“CA“) provides that directors of a company must, on the requisition of members

On 20 April 2023, Mr Lawrence Wong, Deputy Prime Minister and Minister for Finance, and Monetary Authority of Singapore (“MAS“)

The Infocomm Media Development Authority has proposed an automatic class licence for mixed distributors of video games and non-age restricted

On 17 April 2023, the Monetary Authority of Singapore (“MAS“) published an information paper titled “Corporate Finance Thematic Inspection: Good

To better protect retail investors in Singapore against inappropriate prospecting and marketing activities and tactics engaged by some financial institutions

作为中资企业热点投资地区之一的新加坡于 2017 年批准了《联合国国际贸易法委员会跨境破产示范法》（”示范法“）。该示范法代表了在破产程序中跨境承认和援助方面的一个重大进步，也为更有效的重组或跨地域的资产变现铺平了道路。 本文是对《示范法》以及有关外国破产程序的简要介绍。 如果您想进一步了解，请点击阅读更多。

On 9 May 2023, the Financial Services and Markets (Amendment) Bill (“Bill“) was passed in Parliament. The Bill amends the

Can an exclusive jurisdiction clause in one contract, as a matter of construction, apply to disputes arising out of another

On 8 May 2023, the Online Criminal Harms Bill (“Bill“) was introduced for First Reading in Parliament. To better protect

On 18 April 2023, the Companies, Business Trusts and Other Bodies (Miscellaneous Amendments) Bill 2023 (“Bill“) was tabled for first

To allow various business entities to convene, hold, or conduct their general meetings despite various movement control orders during the COVID-19 pandemic, the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts, Unit Trusts and Debenture Holders) Order 2020 (“Order”) came into effect on 27 March 2020 and was extended multiple times.

Singapore has taken a position as a regional leader in trade digitalisation, with numerous programmes and initiatives directed at achieving

On 26 April 2023, the Ministry of Finance, Ministry of National Development, and Monetary Authority of Singapore jointly announced in

On 1 March 2023, Singapore formally became a member of the International Institute for the Unification of Private Law (“UNIDROIT“)

The Monetary Authority of Singapore (“MAS”) has issued Circular No. AMLD 02/2003 (“Circular”) on 3 March 2023 to remind all financial institutions (“FIs”) to stay vigilant to the money laundering and terrorism financing (“ML/TF”) risks in wealth management.

In March 2022, the Ministry of Manpower (“MOM“) announced a slew of changes relating to Singapore’s foreign workforce. Key among

On 27 March 2023, the European Commission (“EC“) published a Communication and Annex, amending its 2008 Guidance on enforcement priorities

On 20 March 2023, the Ministry of Finance (“MOF“) announced that it is proposing legislative amendments to the Free Trade

On 27 March 2023, Climate Impact X (“CIX”), a global marketplace, auctions house and exchange for trusted carbon credits based in Singapore, announced that it is set to launch a nature-based standardised contract called CIX Nature X (“Nature X”). CIX was jointly established by DBS Bank, Singapore Exchange (SGX Group), Standard Chartered and Temasek.

Property developers can soon expect to be subject to new requirements regarding anti-money laundering and terrorism financing (“AML“) measures. Earlier

On 23 February 2023, the Monetary Authority of Singapore (“MAS“) issued a new Notice SFA-04-N21 on “Business Conduct Requirements for

On 15 March 2023, the Steering Committee for SOR & SIBOR Transition to SORA (“SC-STS”) published a consultation paper on its recommendations for the setting of adjustment spreads to convert legacy loans referencing the Singapore Interbank Offered Rate (“SIBOR”) to a Singapore Overnight Rate Average (“SORA”) reference.

Data breaches are a key concern for organisations, particularly in light of the increasing incidents of data leaks. As part

On 10 March 2023, the Accounting and Corporate Regulatory Authority (“ACRA”) announced that ACRA, the Singapore Accountancy Commission (“SAC”) and the Accounting Standards Council (“ASC”) will merge as one entity with effect from 1 April 2023. The merged entity will take on the name of ACRA.

When a company enters financial trouble, the Singapore restructuring and insolvency framework provides a number of avenues through which the

On 1 March 2023, Singapore and the United Kingdom (“UK”) entered a Memorandum of Understanding (“MOU”) on the UK-Singapore Green Economy Framework (“UKSGEF”).

The Healthcare Services (Amendment) Bill (“Bill“) was introduced in Parliament on 6 February 2023. This follows a public consultation conducted

On 28 February 2023, the Land Betterment Charge (Table of Rates and Valuation Method) (Amendment) Regulations 2023 was published in

On 15 February 2023, the Green Finance Industry Taskforce (“GFIT“) issued the third consultation paper (“2023 Consultation Paper“) on the

Singapore, as a regional hub for dispute resolution, has been developing its framework for the reciprocal enforcement of foreign judgments.

On 24 February 2023, the Misuse of Drugs (Amendment) Bill (“MDA Bill“) and the Constitution of the Republic of Singapore

In Milaha Explorer Pte. Ltd v Pengrui Leasing (Tianjin) Co. Ltd. [2023] SGCA 6, the Singapore Court of Appeal considered

Seeking to address how best to create a strong and robust system that will promote workplace fairness, the Tripartite Committee

On 9 February 2023, the Accounting and Corporate Regulatory Authority, Ministry of Finance and Monetary Authority of Singapore jointly announced

We are pleased to present you our Sustainability Update which shares insights from our Sustainability Partners and experts across sectors and domains on key environmental, social and governance (“ESG”) developments and trends.

On 6 February 2023, the Ministry of Finance (“MOF“) and the Accounting and Corporate Regulatory Authority (“ACRA“) published their responses

On 6 February 2023, the Resource Sustainability (Amendment) Bill (“Bill“) was tabled for First Reading in Parliament. The Bill seeks

On 14 February 2023, as part of the Budget Statement for Budget 2023, the Minister for Finance, Lawrence Wong, announced

The Budget Statement for Budget 2023 was delivered on 14 February 2023. Following the lowering of the Disease Outbreak Response

The Healthcare Services (Amendment) Bill (“Bill“), introduced in Parliament on 6 February 2023, was passed on 6 March 2023. The

On 10 February 2023, the Ministry of Manpower (“MOM“) announced an extension to the Heightened Safety Period and the implementation

When a party submits that a dispute is not arbitrable, an important threshold question arises: should the issue of arbitrability

Intangible assets such as intellectual property and goodwill are important sources of competitive advantage and economic value for any business.

On 3 February 2023, the Ministry of Manpower (“MOM“) announced that it has formed the Platform Workers Work Injury Compensation

On 2 February 2023, Sembcorp Industries (“Sembcorp“) and the Energy Market Authority (“EMA“) announced in a joint media release the

On 1 February 2023, the Energy Market Authority (“EMA“) issued a public consultation (“Consultation“) seeking feedback on proposed enhancements to

The Online Safety (Miscellaneous Amendments) Act 2022 (“Act“) has come into operation on 1 February 2023. The Act introduces new

In a joint statement released on 30 January 2023, tripartite partners Ministry of Manpower, National Trades Union Congress and Singapore

In Re: Kirkham International Pte Ltd [2023] SGHC 19, the Singapore High Court considered the issue of whether it has

A common method employed by scammers is to masquerade their SMS sent to Singapore mobile users using the same alphanumeric

The eighth meeting of the International Advisory Panel for Workplace Safety and Health (“IAP“) occurred from 17 to 19 January

In Singapore, subsidiary proprietors (“SP”) of strata titled developments are required to seek the management corporation’s (“MCST”) approval to effect improvements to their lot if it affects the appearance of the building, the overarching concern being that of uniformity.

The Appropriate Dispute Resolution: The Singapore Way launch event on 12 January 2023 saw the introduction of two new initiatives

As part of the reform of Singapore’s bankruptcy and insolvency laws, the personal bankruptcy regime has been moving towards administration

Construction contracts often contain detailed procedures for the various aspects of the working arrangement between the parties, including the agreed mechanisms for making payment claims or for variation and rectification works, as well as details such as notification periods or approval processes.

The National Environment Agency of Singapore (“NEA“) is proposing amendments to the energy efficiency requirements on regulated domestic goods under

On 11 January 2023, Singapore Exchange Regulation announced that the following new requirements will apply to issuers listed on the

The Monetary Authority of Singapore (“MAS“) and the Accounting and Corporate Regulatory Authority (ACRA) first launched the Variable Capital Companies

On 9 January 2023, the Environmental Public Health (Amendment) Act 2023 (“Bill“) was introduced in Parliament. The Bill was passed

On 6 January 2023, the Accounting and Corporate Regulatory Authority (“ACRA“) released its fourth report from its Financial Reporting Surveillance

On 8 December 2022, the Competition and Consumer Commission of Singapore (“CCCS“) issued a decision pursuant to an application by

2022 has seen various developments relating to consumer protection law. Not only have the authorities looked into strengthening dispute resolution

On 17 November 2022, the Competition and Consumer Commission of Singapore issued an Infringement Decision against four warehouse operators for engaging in anti-competitive agreements in violation of section 34 of the Competition Act 2004, and imposed a total financial penalty of close to S$3 million.

On 15 December 2022, the Ministry of Law announced that various COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings) Orders which

On 20 December 2022, Carbonplace and Climate Impact X (“CIX“) announced a successful series of proof-of-concept transactions that will dramatically

On 14 December 2022, the Monetary Authority of Singapore (“MAS“) issued the following revised MAS Notices on residential property loan

On 13 December 2022, the Ministry of Manpower and the Ministry of Trade and Industry jointly announced the launch of

On 14 December 2022, the Monetary Authority of Singapore issued a Consultation Paper on proposed revisions to “Guidelines on Fair

Since 2016, issuers listed on the Singapore Exchange Securities Trading Limited (“SGX-ST“) have been required to issue a sustainability report

If a claim would be time-barred in arbitration, but not in the court proceedings that had been commenced within time,

The questions of who has priority over a bankrupt’s assets and precisely when the priority arises are important ones in

On 24 November 2022, the Singapore Exchange Regulation (“SGX RegCo“), the Singapore Institute of Directors (SID), and the Chartered Secretaries

In Ok Tedi Fly River Development Foundation Ltd & Ors v PNG Sustainable Development Program Limited [2022] SGCA 76, a

In March 2020, the Infocomm Media Development Authority (“IMDA“) launched an Internet of Things (“IoT“) Cyber Security Guide (“Guide“) to

On 9 November 2022, the Online Safety (Miscellaneous Amendments) Bill (“Bill“) was passed in Parliament. The Bill seeks to enhance

We highlight in this Update some key merger control developments in the Southeast Asia region in Q4 2022, notably in

In October 2022, the Singapore Exchange Regulation (“SGX RegCo“) published the Cyber Incident Response Guide (“Guide“) to provide guidance on

On 4 November 2022, the Monetary Authority of Singapore (“MAS“) issued the “Consultation Paper on Amendments to the Insurance Act

The Ministry of Law and the Intellectual Property Office of Singapore are conducting a Public Consultation on the proposed draft

Non-fungible tokens (“NFTs“) are an increasingly ubiquitous digital asset. But as with all changes in technology, questions arise as to

When a company is being wound up or is in judicial management, the Court may order the production of documents

The Singapore Exchange Regulation (SGX RegCo) is conducting a public consultation on the following changes to institute better corporate governance

The Monetary Authority of Singapore (“MAS“) is seeking feedback on two consultation papers which set out proposed enhanced regulatory measures

If a claim would be time-barred in arbitration, but not in the court proceedings that had been commenced within time,

On 25 October 2022, the Monetary Authority of Singapore (“MAS“) issued a consultation paper containing its proposals for a Domestic

The Ministry of Law has announced that enhanced border enforcement measures relating to certain intellectual property rights will come into

In recent years, the consumer credit landscape has seen a rise in “Buy Now Pay Later” (“BNPL“) transactions. BNPL generally

In the course of corporate insolvency, in order to progress from initiating a winding up application to the actual winding