Singapore’s insurance regulator (the Monetary Authority of Singapore (“MAS”)) has, in a circular of 22 February 2023 (“MAS Circular ID 03/23”), issued its revised expectations for licensed insurers regarding notification of data breaches to the MAS. MAS Circular ID 03/23 supersedes MAS Circular No. ID 10/14 in which the latter relates to a licensed insurer’s […]
A Practice Note outlining the Chinese courts’ practices in relation to foreign-related litigation and arbitration matters and the clarifications issued by the Supreme People’s Court on 31 December 2021 in a judicial paper titled “Meeting Minutes of the National Court’s Symposium on Foreign-Related Commercial and Maritime Trials”. On 31 December 2021, the Supreme People’s Court (SPC) of China […]
Year on year, the emphasis on climate-related issues increases, and as COP27 came to an end, emphasis has been placed on who can make the most substantial change. In the UK a positive burden is placed on large corporate entities and financial institutions to report on how the company is managing issues such as environmental […]
Cryptocurrency regulation in Singapore has seen significant developments in the last 10 years Since June 2013, the Monetary Authority of Singapore (“MAS”) has been cautioning consumers and businesses of the significant risks associated with virtual currency transactions. Following the boom in initial coin offerings (“ICO”) in 2016, the MAS clarified in August 2017 that ICOs must […]
Lawyers often assume that correspondence with their advisory experts is protected by legal professional privilege, but that is not always the case. In a recent decision concerning multiple disputes, the Commercial Court has emphasised the need to consider carefully when an advisory expert was engaged, and in relation to which precise dispute, before asserting privilege […]
In the recent case of Twarit Consultancy Services Pte Ltd and anor v GPE (India) ltd and ors [2021] SGHC(I) 17, the Singapore International Commercial Court dismissed an application to set aside an arbitral award made in consolidated arbitrations conducted under the rules of the Singapore International Arbitration Centre (the “Award”), reinforcing the Singapore Courts’ […]
In Shanghai Shipyard v Reignwood International Investment (Group) Company Ltd [2021], the Court of Appeal construed a guarantee provided to a shipyard for payment of the final instalment of a drillship as an “on demand” guarantee. The Court of Appeal’s judgment has significant implications for companies involved in shipbuilding and offshore construction, as well as other […]
We are pleased to share with you the new issue of our Quarterly Update on decisions published by the Personal Data Protection Commission (“PDPC”). This is a publication that provides a snapshot of the PDPC decisions published in Singapore. The decisions provide valuable insights and lessons so that organisations can implement measures to prevent similar […]
On 6 July 2021, the Copyright Bill (the “Bill”) was tabled in Parliament. The Bill seeks to repeal and replace the current Copyright Act. Further, the Bill aims to strengthen the Singapore copyright regime and will introduce several new rights and exceptions. We have set out below a high-level summary of some of the proposed […]
Does an insurer’s right of subrogation extend to the right to call upon a performance bond issued to the insured? In Sompo Insurance Singapore Pte Ltd v Royal & Sun Alliance Insurance plc [2021] SGGC 152, the High Court of Singapore confirmed that it does. The case provides a concise summary of the law of subrogation in […]