Financial Services Regulation
Our Financial Services Regulation practice covers the full range of laws and regulations relating to Singapore’s financial services market. Our lawyers regularly advise financial institutions on various aspects of financial services regulation and compliance, including authorization and licensing issues, business conduct requirements, anti-money laundering and sanctions compliance. We also advise and assist clients in applying for the requisite regulatory authorisations and licenses for conduct of activities in Singapore, as well as in developing and implementing appropriate regulatory compliance policies and procedures.
Our lawyers work closely with our Banking & Finance Practice Group colleagues to provide a full suite of services to banks and financial institutions, and we also support the Mergers & Acquisitions team in transactions involving financial institutions where regulatory issues (such as obtaining approvals or clearances) might be involved.
Our clients comprise banks, insurance companies, insurance brokerages, capital markets intermediaries, fund managers, investment advisers and market operators.
Our team comprises experienced individuals who have spent several years working and interacting with the financial regulators on regulatory compliance matters, whether as external counsel and as in-house legal compliance professionals. The team includes an experienced director who spent seven years in legal as well as policy development roles within the Monetary Authority of Singapore, and practices in this area on a full-time basis.
We pride ourselves in having an excellent working relationship with the Monetary Authority of Singapore as well as other government agencies active in this field. We seek to advise from our knowledge of the regulatory intent and the underlying policy behind a statute rather than from a literal reading of it.
What we can do for you
- We help financial institutions who are new to the Singapore market to understand the local regulatory framework, and work with them to obtain the requisite regulatory licences or exemptions to conduct their business or offer their services in Singapore.
- We advise on the impact of regulatory laws on financial institutions and other businesses operating in the financial sector, offering both stand-alone advice as well as advice integrated with complex transactional work.
- We advise financial institutions in their interactions with local regulatory agencies, particularly the Monetary Authority of Singapore, and also assist them in developing internal compliance and control policies and procedures that accord with prevailing local requirements and international best practices.
Banking and Financial Services 2022 - Highly Recommended practice for 4 consecutive years
Banking and Finance 2022 - Recommended practice for 3 consecutive years
Corporate and M&A 2022 – Recommended practice
“The firm satisfactorily review and made various recommendations and amendments. The firm has done its requested works in an excellent and responsible manner.”
“Very prompt reply, client-oriented, responsible and reliable.”
'Drew... should be viewed as among the top experts in the field,' says another client."
Chambers Asia Pacific and Global
Banking & Finance 2022 – Leading firm for 17 consecutive years
Corporate/M&A 2022 - Band 3 firm
A source values Drew & Napier's "flexible and creative advice, and willingness to consider novel approaches."
“Clients praise the [banking] team's 'diligent and responsive approach – you know they’ll have everything covered'.”
"It's a formidable firm with a strong resource base," a client says, adding: "The lawyers are responsive, diligent and detailed." Another praises the lawyers, calling them "very professional, reliable and target-oriented."
“Very responsive and quick to deliver. Always ready to attend to questions and a pleasure to deal with. Solution oriented and practical in approach. Extremely reliable in terms of the research that is done to back up advice.”
“Offers all-round expertise in both the transactional and financing aspects of acquisitions. Enjoys a strong standing amongst private and public companies, multinational corporates and financial institutions, which it advises on a wide range of M&A deals”
The Legal 500 Asia Pacific
Banking & Finance 2022 – Leading firm for 11 consecutive years
Corporate/M&A 2022- Tier 3 firm for 5 consecutive years
“Drew & Napier LLC’s banking team is rated for its ‘very commercial’ approach and the ‘accessibility’ of lead partners.”
The diversity of skills and knowledge of the legal eagles at Drew Napier is astounding and exudes confidence. They have the resources at hand to afford excellent service”
“Smart individuals, proactive in identifying problems and solutions before they arise and commercially focused.”
"The ‘highly competent’ team at Drew & Napier LLC has ‘the right balance of commercial sense and up-to-date legal knowledge’"
“‘A highly professional’ corporate team, which provides advice with ‘quick turnaround times’”
IFLR 1000: The Guide to the World’s Leading Financial Law Firms
Banking & Finance 2022/23 – Leading firm for 10 consecutive years
Corporate/M&A 2022/2023 – Tier 2 firm for 18 consecutive years
Understood the legal regulatory framework well and provided timely advice. Also helped us navigate the sale and purchase agreement and negotiated favourable terms for us."
“We have been using Drew & Napier as our main legal counsel for more than 10 years now and have always found the firm to be thoroughly professional and the staff members assigned to us knowledgeable both in the legal aspects as well as able to advise on the commercial impact and ramifications”
"Align with the interest of the client, responsive and responsible, professional. Thorough and detailed outcome-driven advice with pros and cons analysis."