Contents

 

 

1. Upcoming Amendments to The Employment Act 
    

2. Venture Capital Investment Model Agreements 
    

3. The Monetary Authority of Singapore launches grant to enhance Capital Raising and Enterprise Financing in Singapore 
    

4. Fine of $1,000,000 imposed on SingHealth and IHiS for breach of Personal Data Protection Act 
    

5. Security Token Offerings Regulation in Singapore 
    

6. SGX Requirements for Listed Companies Conducting an Initial Coin Offering 
    

7. The State of Global Cryptocurrency Regulation: Southeast Asia 
    

 

 

Upcoming Amendments to The Employment Act

 

In our CNPupdate of 9 May 2018, we highlighted that the proposed changes to the Employment Act ("EA") likely to be implemented by 1 April 2019.

 

Venture Capital Investment Model Agreements

 

Entrepreneurs and investors of companies in the early stages of funding, namely pre-Series A and Series A rounds of funding, can now refer to the Venture Capital Investment Model Agreements ("VIMA"), which has been launched by the Singapore Academy of Law ("SAL") and the Singapore Venture Capital and Private Equity Association ("SVCA") on 23 October 2018.

Please click here to find out more.

 

The Monetary Authority of Singapore launches grant to enhance Capital Raising and Enterprise Financing in Singapore

 

On 14 January 2019, the Monetary Authority of Singapore ("MAS") announced that it would be launching a new three (3)-year initiative, the S$75 million Grant for Equity Market Singapore ("GEMS"), in February 2019. GEMS aims to improve Singapore's position as the choice venue in Asia for enterprises seeking growth financing.

Please click here to find out more.

 

Fine of $1,000,000 imposed on SingHealth and IHiS for breach of Personal Data Protection Act

 

In a Grounds of Decision ("SingHealth-IHiS Decision") released on 15 January 2019, the Personal Data Protection Commission ("PDPC") meted out its largest fines to date to Singapore Health Services Pte. Ltd. ("SingHealth") and Integrated Health Information Systems Pte. Ltd. ("IHiS"), in the amounts of $250,000 and $750,000 respectively for their involvement in the largest data breach incident since the Personal Data Protection Act ("PDPA") came into force in 2014.

Please click here to find out more.

 

Security Token Offerings Regulation in Singapore

 

The offer for sale of digital tokens, also known as initial coin offerings ("ICOs"), has been a popular means for blockchain companies and technology companies to access capital by, basically, crowdfunding.

On 30 November 2018, the Monetary Authority of Singapore ("MAS") released an updated version of "A Guide to Digital Token Offerings" (the "Guide").

Please click here to find out more.

 

SGX Requirements for Listed Companies Conducting an Initial Coin Offering

 

On 15 November 2018, Singapore Exchange Regulation ("SGX RegCo") announced requirements for listed companies planning to conduct an Initial Coin Offering ("ICO") on the Regulator's Column. Singapore Exchange ("SGX") clarified that even if an SGX-listed company is the issuer of digital tokens, those tokens are not listed on SGX. Therefore, SGX's rules cover only the SGX listed company. Neither the tokens nor token-holders are covered by SGX's rules.

Please click here to find out more.

 

The State of Global Cryptocurrency Regulation: Southeast Asia

 

Following or in spite of the general downward plunge in cryptocurrency value from the first quarter of 2018, termed by some as the "Great Crypto Crash", many governments and regulators in various countries around the world have published guidelines or established their respective regulatory frameworks for cryptocurrencies and initial coin offerings ("ICOs").

Please click here to find out more.