The Global Financial Institutions Industry Podcast includes 13 episodes on the following topics: Operational Risk, Risk Management Guidelines, Fintech, Financial Institutions, Insurtech, Insurance and Financial Sponsors.

In brief CCCS flagship conference spotlights competition issues in the digital sector The five-part webinar series explores the implications of the digital economy issues on competition law and policy in Singapore and Southeast Asia. This update was published on 13 April 2021, as part of our quarterly newsletter, Asia Pacific Competition…

Recent political developments in Myanmar have led to the imposition of targeted sanctions by the US, UK and EU in the past month. As a result of the measures imposed, businesses may face immediate challenges in doing business in, or with, the state. Join our speakers as they provide insights…

On 1 February 2021, certain sections of the Personal Data Protection (Amendment) Act 2020 came into effect as part of a phased implementation.

We had previously summarised in our earlier client alerts the changes proposed during the public consultation (“Consultation Paper”) on the Personal Data Protection (Amendment) Bill (“Bill”), as well as the salient differences between the Consultation Paper and the Bill that was introduced and read in the Singapore Parliament on 5 October 2020. The Bill has since been passed by Parliament on 2 November 2020 (“Act”) and the accompanying guidelines issued in draft form by the Personal Data Protection Commission (PDPC) on 20 November 2020, which we have summarised in another client alert, has since been integrated into the other guidelines issued by the PDPC.

In this client alert, we will further elaborate on some provisions of the Act that came into effect on 1 February 2021.

Episode 9: Financial Institutions in Post-COVID Africa This episode puts the spotlight on Africa, with a focus on South Africa, Kenya, Nigeria, and Ethiopia. Wildu du Plessis, a partner in our Johannesburg office and head of Africa, talks about the situation in Africa, in the context of the current pandemic…

In brief The Monetary Authority of Singapore (MAS) has recently revised its Technology Risk Management Guidelines 2021 (“TRM Guidelines”)1 after feedback from a 2019 public consultation2 and engaging with cyber security experts. While there is some overlap between the TRM Guidelines and the previous 2013 edition of the TRM Guidelines (2013 edition),…

Insurtech (Part 2) Taking off from the recent publication, Insurtech: Opportunities and Legal Challenges for the Insurance Industry, Chris Murrer and Iris Barsan walk through observations in the market, as well as key developments that define the current insurtech landscape. In this second installment, they take a deeper look into regulations…

Insurtech (Part 2) Taking off from the recent publication, Insurtech: Opportunities and Legal Challenges for the Insurance Industry, Chris Murrer and Iris Barsan walk through observations in the market, as well as key developments that define the current insurtech landscape. In this second installment, they take a deeper look into regulations…

The Fast Track Procedure (FTP) introduced in December 2016 by the Competition and Consumer Commission of Singapore (CCCS) has been applied for the first time in a bid-rigging decision involving three water features maintenance businesses (CU Water Services, Crystalene Product (S) and Crystal Clear Contractor) (“Infringement Decision”). In exchange for admission of liability and cooperation with the CCCS in respect of their infringement of the prohibition against anti-competitive agreements under section 34 of the Competition Act (Cap. 50B), Crystalene Product (S) and Crystal Clear Contractor benefitted from a 10% reduction on their respective penalties under the FTP. This is in addition to discounts made available to them under the CCCS’s leniency regime by virtue of their leniency applications.  

The Competition and Consumer Commission of Singapore (CCCS) has issued an infringement decision (“Infringement Decision”) against three businesses engaged in the provision of maintenance services for water features. CU Water Services , Crystalene Product (S) and Crystal Clear Contractor (“Parties”) were directed to pay financial penalties totalling approximately S$420,000 for infringing section 34 of the Competition Act (Cap. 50B) and for participating in bid-rigging conduct relating to tenders called for the provision of maintenance services for pools, ponds, etc.