Financial institutions to provide prescribed fact sheet when marketing residential property loans from 1 March 2012

Corporate Governance Council releases final recommendations on proposed revisions to Code of Corporate Governance

Singapore Court of Appeal clarifies discovery obligations of company subject to derivative action under section 216A of Companies Act

Singapore Income Tax Board of Review considers the carrying forward of loss after restructuring of holding company’s shareholding

English Supreme Court prefers construction of a contractual term that is consistent with business common sense

2011 year in review: Key legal and regulatory developments

Allen & Gledhill LLP Partner Vivian Ang named Best Lawyer in Shipping

Allen & Gledhill LLP reinforces its top tier rankings in The Legal 500 Asia Pacific

English Court of Appeal dismisses appeal by director against finding of breach of duty and upholds refusal of relief from breach

MAS responds to feedback from consultation paper on review of section 21 of the Insurance Act: Maintenance of assets in Singapore

Singapore Court of Appeal declines ordering specific performance as remedy for breach of sale and purchase agreement of land

SFA and FAA Notices updated to set out exam details for representatives dealing/trading in/advising on Specified Investment Products

MICA consults on proposed framework for national Do-Not-Call registry in Singapore

MinLaw issues public consultation seeking significant amendments to the IAA and proposing new Foreign Limitation Periods Act

Singapore High Court delivers instructive decision on “reliance loss” damages in contract

Allen & Gledhill wins 2011 Asia IP Singapore Trademark Firm of the Year Award

SIC conducts public consultation on proposed changes to Singapore Code on Take-overs and Mergers

New MAS Notice 307 on investment-linked insurance policies with effect 1 October 2011

MAS’ response to feedback on public consultation on “Proposed Revisions to the Regulatory Framework for Trade Credit Insurance, Political Risk Insurance and Mortgage Insurance”

Singapore Court of Appeal finds trades amounted to price manipulation

Revised regime for fund management companies: Draft legislation and further proposed enhancements

Parliament introduces Income Tax (Amendment) Bill 2011: Implementing Budget 2011 changes

Parliament introduces Stamp Duties (Amendment) Act 2011: Implementing Budget 2011 changes

MinLaw conducts public consultation on proposed changes to Evidence Act: Legal professional privilege for in-house counsel, opinion evidence, computer output, hearsay

MAS guidelines for financial institutions to safeguard the integrity of Singapore’s financial system

Singapore Court of Appeal explains bank’s duty of care towards customer

Singapore High Court grants leave for commencement of derivative action under section 216A of Companies Act

Key changes to SGX listing rules to strengthen corporate governance with effect from 29 September 2011

SGX clarifies position on dual-class voting shares

SGX proposes to revise error trade policy on securities market to promote greater trade certainty

SGX consults on enhancements to SGX-DC default management framework

SGX implements changes to the SGX-ST opening and closing routines from 26 September 2011 to enhance market transparency

MICA consults on proposed consumer data protection regime for Singapore

Singapore Court of Appeal considers whether binding contract arose between parties

MAS issues consultation paper on proposed changes to MAS Notice 637 to incorporate Basel disclosure requirements on remuneration

Singapore Court of Appeal holds director retains directorship and entitled to inspect accounts

MAS issues regulations for implementation details of Policy Owners’ Protection Scheme

MAS implements changes to securities lending rules from 31 August 2011

MAS requires intermediaries to assess investment knowledge and experience of retail customers from 1 January 2012

MAS requires financial advisers to carry out product due diligence prior to launch of new products and prohibition on teller referrals from 28 July 2011

Singapore High Court examines Securities and Futures Act provisions relating to exemptions from holding capital markets services licence

MOF consults on proposed changes to Stamp Duties Act: Implementing Budget 2011 changes

Singapore Court of Appeal overturns High Court finding that claim was in substance enforcement of UK revenue law in Singapore

MAS strengthens capital requirements for Singapore banks

MAS consults on proposed residential property loans fact sheet

Revisions to MAS Notice 637 on capital requirements and disclosures for market risk and securitisations to be implemented on 31 December 2011

Singapore High Court considers scope of conclusive evidence clause in banking documentation

MOF and ACRA invite comments on wide-ranging changes to Companies Act and revised regulatory framework for foreign entities

SGX issues guide on sustainability reporting for listed companies

Singapore High Court judge considers right of access to company documents in the context of a derivative action

IRAS issues e-Tax Guide on “Income Tax & Stamp Duty: Mergers and Acquisitions Scheme&rqduo;

Allen & Gledhill New Partners 2011

Allen & Gledhill wins Who’s Who Legal Country Award 2011 for Singapore

Corporate Governance Council proposes revisions to Code of Corporate Governance on directors, remuneration, risk management and shareholder rights and role

SGX proposes rule changes on place of general meetings, poll voting and disclosure of voting outcomes

Singapore High Court considers claims of breach of fiduciary duties against managing director of company

Singapore High Court judge considers principles and restrictions relating to director's right of inspection of company accounts

New SGX key terms sheet templates for structured warrants, debentures and funds from 1 August 2011

SGX announces initiatives to reduce bid size and cut trading cost

SGX consults on proposed changes to the SGX-ST opening and closing routines

SGX offers trading of Singapore government bonds

English Court of Appeal finds entire agreement clause not effective to exclude claims for misrepresentation

Allen & Gledhill LLP wins coveted Singapore Deal Firm of the Year at ALB SE Asia Law Awards

Singapore Court of Appeal holds section 47(1) of Banking Act does not prohibit disclosure of “customer information” where customer cannot be identified

Singapore High Court enhances period of disqualification order against director for failing to exercise reasonable diligence in discharging duties

Deposit Insurance and Policy Owners’ Protection Schemes Act 2011 in force from 1 May 2011: Strengthening protection of depositors and policy owners

Insurance Act amended with effect from 1 May 2011: Dealing with distressed insurers

MAS conducts third public consultation on Policy Owners’ Protection Fund

MAS issues new SFA and FAA Notices on cancellation period for unlisted debentures

UK Supreme Court abolishes immunity from suit for negligent expert witnesses

Singapore High Court orders specific discovery in electronic format

MAS welcomes launch of private banking code of conduct

English Court of Appeal considers extent of a creditor’s duty of disclosure to surety

English High Court holds arguable that e-mail exchange could be guarantee in writing

Possible reforms to Companies Act by Steering Committee for Reviewing Companies Act

Singapore High Court holds director in breach of duties through diversion of business was also oppressed as minority shareholder

Parliament passes Deposit Insurance and Policy Owners’ Protection Schemes Bill 2011: Strengthening protection of depositors and policy owners

MAS proposes to regulate credit rating agencies under the SFA

Revised Code on Collective Investment Schemes in effect on 1 October 2011

Allen & Gledhill named Singapore National Law Firm of the Year at Chambers Asia Pacific Awards

Singapore High Court finds ouster of minority shareholder as director constitutes oppression but not majority shareholder’s other ‘personal fiefdom’ acts

Parliament introduces Deposit Insurance and Policy Owners’ Protection Schemes Bill 2011: Strengthening protection of depositors and policy owners

English High Court considers effect of section 2(a)(iii) of ISDA Master Agreement

SGX requires directors proposing restructuring and spin-offs to show detriment to shareholders if status quo is maintained

Enhancement to CDP Clearing Fund structure to take effect from 3 May 2011: Risk-based approach and new large exposure collateralisation framework

Allen & Gledhill wins IFLR Law Firm of the Year for Singapore award

Allen & Gledhill wins four Islamic Finance news Deals of the Year 2010 awards

Allen & Gledhill wins Asian-MENA Counsel’s Deals of the Year 2010 awards

Allen & Gledhill extends its lead in Chambers Asia 2011

UK Supreme Court holds sale of company allegedly at undervalue was genuine commercial sale and did not constitute unlawful distribution of capital

English Court of Appeal holds company fined for breach of competition law cannot recover from employees and directors

MAS issues guidance on fit and proper criteria for appointment of representatives under Representative Notification Frame

New SFA regulations exempting offers of REIT Bonds from prospectus requirements

SGX enhances market access with continuous all-day trading

Listing of early stage mineral, oil and gas companies (MOG) on Catalist from 1 February 2011

Budget 2011 - Analysis of major tax changes

Singapore Court of Appeal rules that Indonesian sand ban within scope of force majeure clause

Allen & Gledhill LLP announces admission of two new Partners

Further measures to maintain stable and sustainable residential property market from 14 January 2011: Lower loan-to-value limits for housing loans, higher seller’s stamp duty

Singapore Court of Appeal expounds on principles for determining nature of a performance bond and making a call under it

Singapore Court of Appeal holds that an agent has the burden of explaining and justifying receipt and retention of payments received on behalf of principal

MAS conducts public consultation on draft Deposit Insurance and Policy Owners’ Protection Schemes Bill: Strengthening protection of depositors and policy owners

SGX proposes admission of foreign brokers as Remote Trading Members

IRAS issues response to feedback from public consultation on proposed Mergers and Acquisitions Scheme

Singapore Court of Appeal holds prefabricated dormitories constituted “plant” under Income Tax Act

Allen & Gledhill New Partners 2011