On 1 September 2021, the Health Sciences Authority published an advisory warning stakeholders of a new suite of cybersecurity vulnerabilities, known as “BrakTooth”, affecting medical devices that utilize certain Bluetooth Link Manager Protocols.
The Singapore High Court refused a consumer’s attempt to re-file a failed claim after the lower court issued a final and unappealable decision. The consumer first brought a claim against e-commerce platform Lazada at the Small Claims Tribunal. After a decision was made, the consumer applied to the District Court for leave to appeal against the decision. The District Court refused to grant leave to appeal, which, under law, is considered as final. However, the consumer still brought a claim before the High Court, arguing that she was filing a fresh claim in respect of the damages that were not granted. The claim was refused.
Singapore’s Prime Minister Lee Hsien Loong, at his recent National Day Rally speech, acknowledged the anxiety felt by middle income Singaporeans over foreign work pass holders, especially with the economic uncertainty heightened by COVID-19.
Addressing what he described as personal and emotional arguments by Singaporeans over perceived foreign competition for jobs and opportunities, the prime minister signaled that the government will introduce new anti-discrimination laws with a range of penalties extending beyond the current administrative penalties, such as restrictions on an employer from hiring foreign workers.
The Inland Revenue Authority of Singapore (‘IRAS’) updated its transfer pricing guidelines on 10 August 2021, with the release of the IRAS e-Tax Guide: Transfer Pricing Guidelines (Sixth Edition).. IRAS has provided additional guidance and clarification with respect to TP documentation compliance, surcharges on TP adjustments, advanced pricing arrangements and mutual agreement procedure requests.
In an earlier article Making it Mandatory to be Vaccinated Against COVID-19: A Framework for Employers, Baker McKenzie associates considered the issue of whether employers can require employees to be vaccinated against COVID-19 based on the existing legal framework at the time. Since then, the Ministry of Manpower, National Trades Union Congress and Singapore National Employers Federation released two advisories on 2 July 2021 and 23 August 2021 to clarify the Singapore government’s policy on this issue and to provide guidance to employers regarding COVID-19 vaccination in the employment context.
Regulators around the world are seeking to strengthen governance frameworks to deter and prevent the perpetuation of employee misconduct and to stem the “rolling of bad apples.”
In this webinar recording, Eunice Tan and Grace Fung from our financial services regulatory team, and Zhao Yang Ng and Sonia Wong from our employment and compensation team discuss and analyze regulatory developments proposed by the Monetary Authority of Singapore and the Hong Kong Monetary Authority in meeting these objectives.
A series of briefings that take a “bite-size” look at international trends in different jurisdictions, drawing on Baker McKenzie’s expert financial services practitioners.
On 15 July 2021, the Health Sciences Authority (HSA) fined Riway (Singapore) Pte Ltd SGD 3,000 for making false claims that its health supplement product, Purtier Placenta, is able to treat diseases and conditions such as cancer and diabetes.
Explore our key resources and stay abreast of market developments and trends in the corporate power purchase agreement space.
In July of 2017, Andrew Bailey, the chief executive of the UK Financial Conduct Authority (FCA), announced in a speech that after 2021 the FCA would no longer use its power to compel panel banks to submit rate information used to determine the London Interbank Offered Rate (LIBOR). Mr. Bailey encouraged the market to develop robust alternative reference rates to replace LIBOR.