Landmark Court of Appeal decision: Tort of malicious prosecution not extended to civil proceedings and tort of abuse of process not recognised in Singapore

In Lee Tat Development Pte Ltd v Management Corporation Strata Title Plan No 301 [2018] SGCA 50, the Court departed from the English position and settled a previously inconclusive area of law in Singapore.

Tags: Tort

MAS announces that Singapore will undergo IMF Financial Sector Assessment Program (FSAP)

The IMF FSAP delegation will visit Singapore in November 2018 and February 2019 to perform the assessment.

Ministry of Law consults on proposed anti-money laundering regime for dealers in precious stones and precious metals

Under the new regime, PSMDs will be required to, among other things, put in place internal policies, procedures and controls and register with MinLaw.

Singapore and Indonesia enters into cross-border competition enforcement agreement

CCCS has entered into its first ever MOU on competition enforcement with Indonesia's KPPU on 30 Aug 18.

MAS issues Response to feedback on Parts 3 and 4 of consultation paper on changes to SFA, FAA and TCA

The paper proposed changes to enhance MAS’ supervisory powers and strengthen business conduct requirements for financial institutions regulated under these Acts.

13 chicken distributors roasted with a S$26.9 million fine

On 12 Sep 2018, the CCCS issued an infringement decision against the 13 chicken distributors for agreeing not to compete by coordinating the amount and timing of price increases of fresh chicken products.

Singapore and Chinese courts agree on reciprocal enforcement of commercial judgments

Under the MOG signed by both Supreme Courts, money judgments heard and obtained in Singapore could be brought before Chinese courts to be recognized and enforced, and vice versa.

MAS issues Guidelines on Liquidity Risk Management Practices for Fund Management Companies and revised CIS Code with changes for money market funds

FMCs have a transition period of six months to enhance their systems and set up processes for ongoing LRM and stress testing. 

Tags: Funds

IPOS Case Summary: Monster Energy Company v NBA Properties, Inc [2018] SGIPOS 16

A mere similarity in the subject matter of the competing marks was not sufficient to establish visual similarity to oppose the registration of a trade mark.

[GBR] Litigation privilege where criminal proceedings are reasonably contemplated

In The Director of the Serious Fraud Office v Eurasian Natural Resources Corporation Ltd [2018] EWCA Civ 2006, the UKCA inter alia questioned the correctness of the Three Rivers case.

SGX issues consultation paper on proposed enhancements to default management capabilities of SGX-DC and CDP

The consultation closed on 16 Aug 2018. Subject to regulatory approval, SGX expects to implement the proposed amendments in the fourth quarter of 2018.

Stamp Duties (Amendment) Bill introduced in Parliament: Application of Stamp Duties Act to electronic records

The Bill was introduced for first reading in Parliament on 6 Aug 2018, which seeks to apply the Act to an electronic record that wholly or partly effects a transaction or evidences a matter.

Tags: Tax

Singapore High Court holds imposition of attorney-eyes-only order did not amount to breach of natural justice warranting setting aside of arbitral award

In China Machine New Energy Corporation v Jaguar Energy Guatemala LLC, the SHC declined to set aside an arbitral award, finding that an attorney-eyes-only (“AEO”) order did not amount to a breach of natural justice.

SGX amends Listing Rules for MOG companies, with effect from 23 August 2018

The amendments facilitate the listing of MOG companies that are at an earlier stage of development.

Categories: Commentaries

Bill introduced to consolidate and update insolvency and bankruptcy laws

In this Update, we take a look at the key elements of the Bill and the implications of the upcoming changes.

Journals Online: Law and legitimacy in the Supreme Court [Book review]

Richard H Fallon explores whether the SCOTUS Justices take their purely normative obligations seriously, or whether they are simply strategic political actors and legal realists.

CCCS issues Guidance Note for Airline Alliance Agreements

This Update provides a summary of the Guidance Note and highlights the differences from the draft guidance note.

[CHN] China amends its individual income tax law

This Update sets out a short summary of the key differences between the 2011 IITL and the 2018 IITL.

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