30 August 2017

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Banking

MAS consults on proposed amendments to capital requirements for Singapore-incorporated banks in MAS Notice 637

MAS consults on changes to enhance Deposit Insurance Scheme and Policy Owners’ Protection Scheme: Raise deposit insurance coverage to S$75,000

MAS Response to feedback received from consultation on review of mandatory audit firm rotation for local banks: MAS to discontinue mandatory audit firm rotation policy

Capital Markets

SGX secondary listing framework allows dual class share companies

SGX and Singapore Institute of Surveyors and Valuers to jointly review practices and reporting for valuations used by listed issuers

Competition

CAB upholds financial penalty imposed by CCS and dismisses appeal by financial adviser for pressurising competitor to withdraw offer from life insurance market

FinTech

FinTech FAQs

Recent developments in the regulation of initial coin offerings

Financial Regulatory

MAS consults on proposed amendments to Payment and Settlement Systems (Finality and Netting) Act

MAS establishes Payments Council

Restructuring & Insolvency

Singapore High Court finds maritime contractual liens to be a charge requiring registration

Tax

MOF issues Response to feedback from public consultation on proposed changes to Goods and Service Tax Act

General

PDPC conducts public consultation to enable collection, use or disclosure of personal data where consent is not practical or desirable, and introduce mandatory data breach notification regime

MOM enhances EntrePass scheme to attract global startup talent to build innovative businesses in Singapore

NCCS issues Response to feedback received from public consultation on Singapore’s climate change strategy and carbon tax

Singapore Court of Appeal holds specific terms override general terms where related contractual documents contain inconsistencies

In Brief

MOM, NTUC and SNEF launch Tripartite Standard on employment conditions for term contract employees

Regional News

Securities Commission Malaysia undertakes review of Guidelines on Due Diligence Conduct for Corporate Proposals

Malaysia’s first green sukuk issued under Securities Commission Malaysia’s Sustainable & Responsible Investment sukuk framework

New compulsory allowances and benefits scheme for terminated employees in Malaysia

Singapore and Myanmar commence negotiations on proposed investment promotion and protection agreement

Myanmar Directorate of Investment and Company Administration publishes new version of draft Myanmar Companies Bill

Myanmar Petroleum Products Law to govern import and distribution of fuel products issued

Law amending Myanmar Stamp Act increases duty rates for transfer of immovable property

Publications

A Practical Approach to Data Intermediaries

Singapore Academy of Law Annual Review: Intellectual Property Law

The International Investigations Review: Singapore chapter

Practical Law Acquisition Finance Global Guide 2017: Singapore chapter

Deals

Establishment of S$3 billion Euro medium term securities programme by Mapletree Logistics Trust

Establishment of S$1 billion multicurrency debt issuance programme and issue of S$300 million subordinated perpetual securities by ARA Asset Management Limited

Establishment of S$1 billion multicurrency medium term note programme and issue of S$200 million notes by Mercatus Co-operative Limited