Singapore Archives

In Environment

Singapore: Carbon Pricing (Amendment) Act 2022 comes into force on 7 March 2023

March 28, 2023 by Andy Leck, Ren Jun Lim, Ken Chia and Alex Toh 4 Mins Read

The Carbon Pricing (Amendment) Act 2022 (“Act”), which came into force on 7 March 2023 and amends the Carbon Pricing Act 2018, seeks to advance Singapore’s transition towards net-zero.
The Act aims to encourage emitters of greenhouse gases to proactively reduce emissions by:
(a) progressively increasing carbon tax rates;
(b) introducing an industry transition framework to provide transitory allowances to companies in Emissions-Intensive Trade-Exposed sectors;
(c) setting up an International Carbon Credits framework; and
(d) revising the list of greenhouse gases and their Global Warming Potential Values.

In Data Privacy

Singapore: In the matter of an investigation under Section 50(1) of the Personal Data Protection Act 2012 and RedMart Limited

March 21, 2023 by Ken Chia, Andy Leck and Alex Toh 5 Mins Read

On 31 May 2021, the Personal Data Protection Commission received a complaint that RedMart Limited was collecting images of the physical National Registration Identity Card and other identification documents of suppliers making deliveries to its warehouses.

In Cyber Security

Singapore: Implementation of the full SSIR regime

March 19, 2023 by Andy Leck, Ren Jun Lim and Ken Chia 4 Mins Read

From 31 January 2023, the Info-Communications Media Development Authority implemented the full SSIR regime. All organizations that use short message service (SMS) with sender identification are required to register their Sender IDs with the Singapore SMS Sender ID Registry. Non-registered SMSes have been labelled as “Likely-SCAM” and will be blocked from later this year. Organizations are encouraged to register their Sender IDs if they have not done so.

In AML & Financial Services Regulatory

Singapore: Additional Business Conduct Requirements for Corporate Finance Advisers

March 18, 2023 by Stephanie Magnus, Eunice Tan and Ying Yi Liew 2 Mins Read

The Monetary Authority of Singapore issued the Notice on Business Conduct Requirements for Corporate Finance Advisers on 23 February 2023. This comes around 14 months after the MAS issued the Consultation Paper P020-2021 which proposed to introduce regulatory requirements on the conduct of due diligence by corporate finance advisers, strengthen public confidence and promote informed decision making by investors through quality disclosures.

In Tax

Singapore Budget 2023: key tax updates

March 15, 2023 by Allen Tan, Dawn Quek, Shih Hui Lee and Jaclyn Ho 3 Mins Read

Budget 2023 focuses on building a more resilient and innovative Singapore. As the country emerges from the Covid-19 pandemic, the nation now contends with inflationary pressures in the midst of global uncertainty. Budget 2023 seeks to provide support to businesses and households to weather the challenges ahead while ensuring that Singapore continues to uphold fiscal prudence.

In Product Regulation & Liability

Singapore: HSA reports seizing over 737,000 units of illegal health products in 2022

March 15, 2023 by Andy Leck and Ren Jun Lim 3 Mins Read

On 20 February 2023, the Health Sciences Authority announced that it had seized over 737,000 units of illegal health products worth SGD 640,000 in 2022 through enforcement raids and covert purchases. Illegal health products include unregistered or counterfeit health products, as well as products with potent medicinal ingredients and/or banned substances illegally added to them.

In Cyber Security

Singapore: Industry consultation for cybersecurity labelling scheme for medical devices

March 15, 2023 by Ren Jun Lim 4 Mins Read

As part of the government’s efforts to improve the visibility of medical devices security, raise overall cyber hygiene levels and better secure Singapore’s cyberspace, the Cybersecurity Labelling Scheme for Medical Devices was announced in 2022.

In Product Regulation & Liability

Singapore: Extension of ‘Nutri-Grade’ labelling requirements

March 1, 2023 by Andy Leck and Ren Jun Lim 4 Mins Read

From end-2023, freshly prepared beverages with high sugar and saturated fat content will be required to display ‘Nutri-Grade’ labels. The ‘Nutri-Grade’ labelling requirements that presently apply to retail settings will also be extended to apply to non-retail settings such as workplaces, schools and healthcare institutions.

In Product Regulation & Liability

Singapore: Fines imposed on licensed food importer and wholesaler

March 1, 2023 by Andy Leck and Ren Jun Lim 3 Mins Read

On 13 February 2023, the Singapore Food Agency published a media release in relation to a licensed food importer’s failure to arrange for the inspection, examination and certification of its imported food consignments. The food importer proceeded to sell the imported food consignments prior to the inspections and was fined SGD 13,500 by the court.

In Employment

Singapore: The Tripartite Committee on Workplace Fairness – interim report

February 28, 2023 by Celeste Ang, Kelvin Poa, Zhao Yang Ng and Shu Ying Chua 3 Mins Read

The Tripartite Committee on Workplace Fairness has released its interim report on 13 February 2023 with its 20 recommendations for the proposed Workplace Fairness Legislation.
In 2021, the Singapore government announced that it will be taking steps to enshrine the Tripartite Guidelines on Fair Employment Practices (TGFEP) in law. The TGFEP, which is non-legally binding, sets out principles of workplace fairness and best practices for employers. While the TGFEP has improved standards of workplace fairness in Singapore, it does not have legal force. Enshrining the TGFEP in law is a significant step towards strengthening Singapore’s stand against workplace discrimination.