News & Analysis as of

Monetary Authority of Singapore

Monetary Authority of Singapore Release Guidelines on Digital Token Offerings

by Jones Day on

The Situation: Guidelines on Digital Token Offerings introduced by the Monetary Authority of Singapore address initial coin offerings and also how current laws will be applied to intermediaries. The Result: Whether a...more

Singapore Legal Update - November 2017

by Allen & Overy LLP on

MAS Consults on Draft Digital Payments Bill - A new draft Payment Services Bill sets out the MAS’s proposed licensing framework for providers of payment service activities. The three categories are: Money-Changing...more

Singapore Simplifies Rules for Managers of Venture Capital Funds

by Jones Day on

The Situation: The Monetary Authority of Singapore ("MAS") has introduced a new simplified regulatory regime for managers ("VC Managers") of venture capital funds ("VC Funds"). The Impact: The new regime has simplified and...more

Preparing a Performance Reference for an Employee – What is Expected of an Employer?

by K&L Gates LLP on

It is not uncommon for employers to require potential employees to provide references from their former employers. Indeed, such references may have a significant bearing on their chances of obtaining employment with a new...more

Initial Coin Offerings—A Singapore Perspective

by Jones Day on

As interest continues to grow in virtual currencies, blockchain technology and initial coin offerings, governments are evaluating the benefits and potential risks of these innovations, while considering numerous regulatory...more

The MAS’s New Regulatory Regime for Venture Capital Fund Managers Comes into Force

by K&L Gates LLP on

As part of the Singapore government’s drive to attract more venture capital fund managers (“VCFM”) and venture capital (“VC”) funding into Singapore to boost the growth of startups and growth-stage enterprises, following a...more

Venture Capital fund managers may begin operations in record time in Singapore - New MAS regulations reduce the qualifying...

by Dentons on

Although a venture capital fund may be prepared to invest in a new country, lengthy requirements to set up operations may risk the loss of valuable business opportunities. In Singapore, however, the criteria for operating a...more

Singapore Legal Update - October 2017

by Allen & Overy LLP on

New Inward Redomiciliation Regime Takes Effect - The inward redomiciliation procedure for foreign companies wishing to transfer their registration to the Singapore registry of companies came into force on 11 October 2017....more

New Regulatory Regime for VC Fund Managers Takes Effect

by Morgan Lewis on

The Monetary Authority of Singapore simplifies and reduces the regulatory compliance burden for venture capital fund managers in Singapore....more

Financial Services Quarterly Report - Third Quarter 2017: Global Update: Regulators Focus on Initial Coin Offerings

by Dechert LLP on

Since January 2017, more than $2 billion has been raised through the rapidly growing market for so-called “token sales” or “initial coin offerings” (ICOs). The U.S. Securities and Exchange Commission (SEC) announced on July...more

MAS Clarifies Regulatory Position on Digital Token Offerings in Singapore

by Morgan Lewis on

The Monetary Authority of Singapore indicates that various forms of crowdfunding involving the use of digital tokens likely will be regulated if the digital tokens constitute products regulated under the Securities and...more

Financial Regulatory Observer - September 2017: Regulators put their heads in the cloud

by White & Case LLP on

A new wave of IT outsourcing by banks raises some important questions for regulators. Financial Regulatory Observer (FRO): Why is outsourcing back at the top of the agenda for banks and supervisory authorities? ...more

Singapore as a Funds Destination

by Morgan Lewis on

Assets under management in Singapore continue to grow. The Monetary Authority of Singapore (MAS) reported in its annual industry survey that assets under management (AUM) managed by Singapore-based managers grew 7% to...more

Busy Summer for Distributed Ledger Technology

by Reed Smith on

Distributed Ledger Technology (DLT) and cryptocurrency have been a hot topic this summer. DLT has begun its transition from a proof-of-concept phase, to a real world deployment. ...more

Coining it in: ICOs as the New Fundraising Paradigm?

by Latham & Watkins LLP on

Initial Coin Offerings (ICOs) involve issuers offering virtual coins or tokens that are created and disseminated using distributed ledger or blockchain technology. The capital raised from the offer will fund the development...more

Canadian Securities Administrators provide new guidance on cryptocurrency offerings and approve exemptive relief for Canadian ICO ...

by DLA Piper on

On August 24, 2017, Staff of the Canadian Securities Administrators (the “CSA”) released CSA Staff Notice 46-307 - Cryptocurrency Offerings1 (“Staff Notice 46-307”). Staff Notice 46-307 follows the report of the Securities...more

Blockchain Week in Review – August 2017 #6

by Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Announcement Clarifies Regulatory Position on Digital Token Offerings in Singapore

by Jones Day on

In the wake of a recent increase in the number of initial coin (or token) offerings ("ICOs") in Singapore as a means of raising funds, as well as announcements from other concerned regulators, including in the United States,...more

The Financial Report, Volume 6, Number 14

by DLA Piper on

Sometimes it’s easy to criticize the regulators we deal with - for example, when a particular rule or course of action makes things more difficult or complicated and the benefit is not necessarily apparent. It can cause us to...more

Initial coin offerings – something new under the regulatory sun?

by DLA Piper on

FinTech Regulation - In our financial services updates at the beginning of the year (see here), we outlined a few regulatory pointers for FinTech coming out of a speech by the Chair of the Financial Stability Board (FSB)....more

The Monetary Authority of Singapore Clarifies Its Treatment of Token Offerings - To Regulate or Not to Regulate? – That Is No...

by Morrison & Foerster LLP on

In a press release issued on Tuesday, August 1, the Monetary Authority of Singapore (“MAS”) provided its most direct guidance yet on how it intends to treat “token offerings.” For those looking for concrete rules,...more

Singapore Legal Update - June 2017

by Allen & Overy LLP on

Foreign Companies May Restructure under the New Singapore Insolvency Provision - The insolvency provisions of the Companies (Amendment) Act 2017 came into force on 23 May 2017. They set up a new restructuring framework...more

Extension and Refinement of the Aircraft Leasing Scheme in Singapore

by Morgan Lewis on

The Aircraft Leasing Scheme in Singapore is to be extended for another five years with refinements to encourage the growth of the aircraft leasing sector. On 20 February 2017, the Minister of Finance, Mr. Heng Swee Keat,...more

Singapore Legal Update - May 2017

by Allen & Overy LLP on

MAS Consults on Operationalising the Changes to the Securities and Futures Act - The MAS has suggested that an entity that operates a facility to match trades in respect of products that are not exchange traded...more

Variation Margin Requirements Relief

by White & Case LLP on

According to the original timetable, the first implementation date in various G20 countries for uncleared over-the-counter ("OTC") derivative variation margin requirements was 1 September 2016 for the largest market...more

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