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Financial Services Bulletin January 2012

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At a glance


Banking

Merchant banks to comply with higher paid-up capital requirements and new minimum capital adequacy ratios

MAS issues revised MAS Notice 637 incorporating Basel disclosure requirements on remuneration

MAS issues consultation paper on “Proposed Amendments to MAS Notice 637 to Implement Basel III Capital Standards in Singapore”


Corporate

ACRA issues guidance for directors regarding financial statements during uncertain economic environment


Tax

Income Tax Act amended with effect from various dates to implement Budget 2011 changes

Goods and Services Tax Act amended with effect from 1 January 2012 to implement Budget 2011 changes


General

Parliament introduces Evidence (Amendment) Bill 2012: Legal professional privilege for in-house counsel, opinion evidence, computer output, hearsay

English Court of Appeal orders rectification of contract for common mistake


News

­ Allen & Gledhill LLP announces admission of new Partners

 


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