29 November 2017

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Financial Regulatory

MAS seeks comments on proposed liquidity risk management framework for fund management companies

Parliament introduces Bill to amend Payment and Settlement Systems (Finality and Netting) Act to improve protection of payment transactions

MAS releases industry transformation map for financial services in Singapore

MAS launches insurance-linked securities grant scheme

MAS (Sanctions and Freezing of Assets of Persons - Democratic People’s Republic of Korea) Regulations 2016 amended with effect from 4 November 2017

FinTech

MAS FinTech initiatives announced in the course of the Singapore FinTech Festival

Restructuring & Insolvency

Singapore Court of Appeal provides guidance on related creditors and considers whether creditors assigned debts to circumvent headcount test for scheme of arrangement 

Tax

Changes to Goods and Services Tax Act to ease business compliance and improve tax administration in force

White Collar & Investigations

White collar and investigations: Overview and important developments

General

Mediation Act introducing mediation framework takes effect on 1 November 2017

MCI and CSA respond to feedback received on proposed Cybersecurity Bill

PDPC consults on revised advisory guidelines relating to NRIC numbers

PDPC releases Guide to Developing a Data Protection Management Programme and Guide to Data Protection Impact Assessments

Cross-Border Railways Bill read for the second time in Parliament

Ministry of the Environment and Water Resources seeks feedback on draft Carbon Pricing Bill

Singapore Court of Appeal holds that an interim prohibitory injunction may be granted to restrain a breach of a contractual negative covenant

Regional News

Bank Negara Malaysia to finalise standards for electronic Know-Your-Customer

Myanmar DICA issues announcement setting out timeline and procedure for application by companies on stay permits and visa extensions

Publications

Practical Law Lending and Taking Security Global Guide: Singapore chapter

The Mergers & Acquisitions Review: Singapore chapter

Deals

S$2.1 billion acquisition of Asia Square Tower 2 by CapitaLand Commercial Trust Management Limited

US$742 million sale of shareholding interest in Myanmar Supply Chain and Service Co., Ltd. and Myanmar Distillery Co., Ltd. to International Beverage Holdings (Singapore) Pte. Ltd.

US$553.1 million initial public offering and listing of Keppel-KBS US REIT

Issue of S$640 million notes by Housing and Development Board

Issue of S$500 million notes by CapitaLand Treasury Limited

News

Allen & Gledhill sponsors S$50,000 in legal credits for the first Allen & Gledhill FinTech prize

Allen & Gledhill’s Corporate Social Responsibility Review 2016/2017

Awards & Rankings

Allen & Gledhill FinTech practice rated as a thought leader

Allen & Gledhill wins Singapore Firm of the Year at Asialaw Asia-Pacific Legal Practice Awards 2017