The Payment Services Bill was introduced in Parliament on 19 November 2018 and passed on 14 January 2019. Under the Payment Services Act 2019, the Monetary Authority of Singapore will regulate significant payment systems and the provision of payment services in Singapore.
On 1 April 2019, a number of amendments to the employment law landscape in Singapore came into force. With the transfer of the dispute resolution process for wrongful dismissal claims to the Employment Claims Tribunals and the expanded definition of "dismissal" in the Employment Act (EA), the risk of wrongful dismissal claims by employees is coming more into focus in the minds of employers.
This article provides a summary of the changes to the available tax incentives for Qualifying Funds, and their implications for fund managers and family offices in Singapore.
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The Singapore Exchange's listing decision on the use of a business/ownership structure to comply with foreign ownership restrictions
In certain jurisdictions, there may be restrictions on foreign ownership of domestic companies or in respect of certain industries. Foreign companies wishing to do business in these countries frequently use a variety of business/ownership structures in the principal places of operations of their businesses in order to comply with the foreign ownership restrictions.
Crypto firm AriseBank was recently reported to have made false claims, that it was operating a fraudulent Initial Coin Offering. Like the victims of AriseBank, you too may find that you are dissatisfied with the digital tokens that you have purchased. You may not have received the tokens in useable form or obtained the promised features of the cryptocurrency.
What are ETFs?
Exchange Traded Funds ("ETFs") are listed funds that track an underlying basket of assets that typically share a similar investment profile, which can be a stock index, commodity, bonds, or any basket of assets. As the name suggests, they are exchange traded, which means that investors can purchase a share in the ETF in the same way that regular listed company shares are purchased. ETFs allow investors to diversify their portfolios without needing to buy individual stocks or building a portfolio similar to the benchmark index. They also enjoy lower fees as they are not typically actively managed.
MAS halts Security Token Offering in Singapore, Issues Warning on Websites Soliciting "Cryptocurrency" Investments
On 24 January 2019, the Monetary Authority of Singapore warned a digital token issuer not to proceed with its securities token offering in Singapore.
Family offices are legal entities that carry out the administration and management of assets and investments of ultra-high net worth individuals or families for the purposes of capital preservation, succession planning and managing investments.