The Legal 500 Banking & Finance Yearbook 2023, Singapore Q&A by Drew & Napier

28 Dec 2023

Directors Pauline Chong, Renu Menon, Benedict Teo and Benjamin Gaw co-authored the Singapore Q&A chapter in the inaugural The Legal 500 Banking & Finance Yearbook 2023. The team was supported by Directors Ron Cheng, FDs Priscilla Wang, and May Ng and Associate Director Yap En Li. The annual publication is intended to provide insights into the issues facing banks and financial services companies around the world, interviews with leading industry figures, as well as data from The Legal 500.
 
The Singapore chapter provides an overview of the licensing and registration requirements imposed by the Monetary Authority of Singapore (MAS) for foreign financial institutions seeking to establish a presence in Singapore, potential legal challenges for UK companies engaging in cross-border financial transactions, and mechanisms available in Singapore for resolving banking and finance-related disputes.
 
The chapter also discusses legal considerations UK companies should note when collaborating with Singaporean fintech partners or establishing digital banking services in Singapore, MAS guidelines relating to anti-money laundering and counter-terrorism financing requirements for financial institutions, and ESG-related regulations and expectations that UK companies in Singapore’s financial sector should be aware of, among other points of discussion.
 
You may read the full chapter on pg. 44-49 here.