7 Temasek Boulevard, Suntec Tower One, #20-06, Singapore 038987
Investment Fund Compliance
The legal framework in which the investment management industry operates is subject to rapid changes, especially in the present climate, presenting a number of different challenges for the industry. Legislation In recent times, such changes are motivated by international tax treaties, efforts to step up against money laundering and terrorism financing, and the effect of new technology on the finance industry including the advent of cryptocurrency, personal data protection, and the evolving ecosystem of the internet. Recent...
read moreLaw Reform: Violence in the Home
Singapore (27 February 2019) – Amendments are proposed to the Protection from Harrassment Act (“POHA”). These are in addition to the review of the Singapore Penal Code. The focus is on violence against a person in an intimate or close relationship with the perpetrator. Says Mr Lee Terk Yang, Director of Flint & Battery LLC, “The amendments criminalises harassment, stalking and other anti-social behaviour.” “It is reported that these amendments will make it easier for victims of intimate...
read moreCPF Retirement Sum
15 October 2018, PAYOUTS UNDER CPF RETIREMENT SUM SCHEME – In the 2018 Budget Debate, the topic of CPF contributions for older workers were raised for debate. It was reported that the current rates for such older workers were set in 1988 and were never reviewed. During the debate: It was suggested that the progressively decreasing contribution rates allow private companies to remain competitive. It was further suggested in the debate that workers are paid on job value rather than on the basis of seniority. There was a suggestion that...
read moreEconomic Substance Law
1 February 2019 – ECONOMIC SUBSTANCE LAW As at 1 January 2019, certain legal entities carrying on relevant activities are required by the newly effective Economic Substance Law to demonstrate adequate economic substance in the Cayman Islands. Any company, LLC or LLP registered or incorporated in the Cayman Islands should be aware of this legislation and consider how it may be affected. The laws require further detail and will be progressively added over the coming months by the Cayman Islands Tax Information Authority (TIA). We expect...
read moreDivorce, separation, etc.
21 November 2018 (Singapore) – Mr Lee Terk Yang, Director of Flint & Battery LLC, answers some common but often misunderstood questions regarding a difficult area of family life: divorce and separation. Q1: What is the difference between separation and divorce? A separation is not the same as a divorce. The key difference between separation and divorce is that when you are separated, you are still legally married to your spouse even though you are living apart. For separation, you need to subsequently go through...
read moreGeneral Data Protection Regulation
1 September 2018 (Singapore) – QUICK NOTES ON THE EU GDPR The European Union General Data Protection Regulation (“EU GDPR”) is the EU’s strong response to “new challenges for the protection of personal data”. This response is based on the principle that natural persons should have control of their own personal data and that there should be strong enforcement for the protection of this fundamental right. The EU GDPR will replace the EU Directive 95/46/EC and will enter into force from 25 May 2018. This does not only affect...
read moreGeneral Data Protection Regulation
16 May 2018 (Singapore) – UPCOMING EUROPEAN UNION (EU) GENERAL DATA PROTECTION REGULATION (GDPR) On 27 April 2016, the European Council and Parliament on 27 April 2016 adopted GDPR, the successor to Directive 95/46EC. The GDPR applies directly in all EU Member States from its effective date, 25 May 2018. It repeals and replaces Directive 95/46EC and Member State implementing legislation. Significantly, he GDPR expands its territorial reach to data controllers and processors outside the EU in respect of the offering of goods or services to EU...
read moreCryptocurrency regulation
14 February 2018 (Singapore) – UPCOMING SINGAPORE PAYMENT SERVICES BILL Written by Winston Wong and Misa Mitsugi, Flint & Battery LLC At present, the Monetary Authority of Singapore (“MAS”) regulates various types of payment services under two pieces of legislation – the Payment Systems (Oversight) Act (Cap. 222A) (“PS(O)A”) and the Money-Changing and Remittance Businesses Act (Cap. 187) (“MCRBA”). However, new payment methods and services are emerging, for instance payments and money transfers can now be done using...
read moreIP Mediation in Singapore and India
22 January 2018 (Singapore, India) – INTELLECTUAL PROPERTY MEDIATION IN SINGAPORE AND INDIA (by Francois Vieillescazes, Flint & Battery LLC, co-written with Dr. Sheetal Vohra, Managing Director of Vohra & Vohra, New Delhi) INTRODUCTION Mediation is a dispute resolution mechanism whereby a neutral third party, the Mediator, will help the parties to the dispute to reach an amicable settlement. Mediation proceedings are not binding. They require the agreement of the parties and may be interrupted at any time. With regards to...
read moreDhaka, Bangladesh
2 November 2016 (Dhaka, Bangladesh) – Flint & Battery International Law Practice (www.flintbattery.com) announced on 2 November 2016 the addition of SLB, Shipping Lawyers Bangladesh, a Law Firm located in Dhaka, Bangladesh (http://shiplawbd.com/). With its addition,Flint & Battery comprises 7 international offices in Bangkok, Bangladesh, Jakarta, London, Paris, Perth and Singapore. SLB comprises a group of highly experienced shipping lawyers. SLB works through the Marine Courts, Admiralty Court, Commercial Courts and the Appellate...
read more