Banking Act changes on enhanced safeguards, corporate governance and risk management controls for banks

This article highlights the key changes which came into force on 30 Nov 2018.

New resolution regime for FIs in Singapore

The MAS Act has been amended with effect from 29 Oct  to strengthen and enhance the powers of the MAS to resolve distressed FIs in an orderly manner.

Income Tax Act amended with effect from various dates to implement tax changes in Budget Statement 2018 and other changes

The Income Tax (Amendment) Act 2018 was gazetted on 12 Nov 18 and has come into force from various dates.

Tags: Tax

Strides towards improved borrower protection and increased regulation in the moneylending industry

This article will discuss the main changes introduced by the Moneylenders Amendment Act 2018.

Amendments to the Building Maintenance and Strata Management Act and Regulations to come into operation on 14 December 2018 and 1 February 2019

BMSMA 2017 was passed in Parliament on 11 September 2017 and received the President’s Assent on 3 October 2017.

MAS proposes revisions to the exemption framework for cross-border business arrangements of capital markets intermediaries

MAS is now proposing to switch the exemption regime from a case-by-case approval to a post-fact notification approach.

Payment Services Bill 2018

The Bill, once passed, represents a significant milestone in consolidating, streamlining and modernising existing payments legislation as part of Singapore's payments roadmap to 2020.

Singapore finalises statutory bail-in regime for banks

This alert will provide an overview of the application and timing of the statutory bail-in regime for banks, and a summary of the rules on temporary stays on termination rights.

SFA revised to keep pace with market developments and align with international standards and best practices

This article highlights the key provisions of the 2017 Amendment Act which came into effect on 8 October 2018.

Bill tabled to introduce legislative changes to strengthen anti-money laundering and counter-terrorism financing frameworks

The Bill seeks to amend the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act and the Terrorism (Suppression of Financing) Act.

Bill to amend Goods and Services Tax Act tabled to extend GST to overseas services

On 1 Oct 2018, the Goods and Services Tax (Amendment) Bill was tabled in Parliament for first reading. 

Tags: Tax

Stamp Duties Act amended from 4 October 2018 to levy stamp duty on electronic records

Other changes include recovering interest from taxpayer who fails to comply with remission conditions; relief from stamp duty for corporate restructuring…

Tags: Tax

Developers (Anti-Money Laundering and Terrorism Financing) Bill tabled to implement AML/CFT measures on developers

The Bill seeks to amend the Housing Developers (Control and Licensing) Act and the Sale of Commercial Properties Act to give effect to some recommendations of the FATF regarding AML/CFT.

Significant amendments to the Securities and Futures Act (Cap. 289) take effect – what are the implications for your business?

The SF(A)A introduces changes to rules in connection with licensing, prospectus requirements, conduct of business and market misconduct.

Journals Online: 2018 Changes to the Evidence Act and Criminal Procedure Code: The Criminal Justice Reform Bill and Evidence (Amendment) Bill [Comment]

This comment briefly analyses some of the most substantive changes brought about by the 2018 amendments.

Journals Online: Enforcing Town Councils’ duties of financial prudence: Problems addressed by the Town Councils (Amendment) Act 2017

This article discusses the means by which a Town Council’s statutory duties, particularly its duties of financial prudence, may be enforced. 

MAS publishes response to feedback received on draft Securities and Futures Regulations - Part 3

In this update, we will consider certain aspects of the second MAS Response in relation to the 2018 Prospectus Regulations.

MAS publishes response to feedback received on draft Securities and Futures Regulations - Part 2

As the 2nd MAS Response is fairly wide ranging, this update will focus on certain sections relating to the SFLCBR.

MinLaw conducts public consultation on recommendations for reform of Penal Code: Key changes impacting corporations

The PCRC introduces new types of offences to tackle crimes facilitated by technological developments, emerging crime trends, and crimes against vulnerable victims.

IPOS consults on proposed Geographical Indications Rules

The GI Rules will be issued under the Geographical Indications Act 2014 to govern the operational aspects of a new Registry of Geographical Indications.

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