Financial Services Bulletin February 2018

27 February 2018

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Capital Markets

SGX issues consultation paper seeking feedback on proposed amendments to Listing Rules for mineral, oil and gas companies

Malaysia and Singapore to set up stock market trading link

Competition

CCS clears proposed acquisition of shares relating to supply of instant coffee mixes and instant milk tea mixes for in-home sales in Singapore

CCS clears proposed joint venture to offer commercial flight training

CCS proposes guidance note for airline alliance agreements

Enterprise Singapore Board Bill passed in Parliament: Restructured competition authority CCS to also oversee consumer protection

Corporate / M&A

Singapore High Court holds that claim to sole beneficial ownership of shares in a company does not give rise to a caveatable interest over registered land owned by the company

Financial Regulatory

MAS encourages financial institutions to use technology to enhance customer on-boarding experience

Public Policy

Budget 2018: Key highlights from a Public Policy perspective

Five likely key themes in Public Policy developments in Singapore in 2018

Restructuring & Insolvency

Singapore Court of Appeal holds directors of insolvent family-owned shipping company stripped assets to evade creditors under guise of a fictitious “restructuring plan”

Tax

Budget 2018: Analysis of major tax changes

General

Parliament passes Cybersecurity Bill: Protecting critical information infrastructure against cybersecurity threats

PDPC responds to feedback received on proposals relating to (1) collection, use or disclosure of personal data where consent not practical or desirable, and (2) mandatory data breach notification

PDPC releases new Guide to Basic Data Anonymisation techniques

Regional News

Bank Negara Malaysia issues policy document on credit risk

Malaysian Inland Revenue Board issues updated Mutual Agreement Procedure Guidelines

Myanmar Directorate of Investment and Company Administration issues draft model constitution for private companies for public consultation

Myanmar Ministry of Commerce expands list of products foreign joint venture businesses allowed to export

Publications

IBA Financial Assistance Guide 2017: Singapore chapter

News

Ang Cheng Hock, SC of Allen & Gledhill to be appointed Judicial Commissioner of the Supreme Court of Singapore

Awards & Rankings

Allen & Gledhill named Singapore (Domestic) Law Firm of the Year 2018 by Chambers & Partners

Allen & Gledhill Intellectual Property practice ranked as a leading practice in World Trademark Review 1000 2018

Allen & Gledhill Intellectual Property practice maintains top tier rankings for trade mark work in Managing IP’s IP Stars 2018