新加坡国会已通过付款服务(修正)法案 防范洗黑钱与恐怖融资行为以及加强对数码支付代币供应商的管制

新加坡国会于2021年1月4号通过《付款服务(修正)法案》

修正案在2019年的法案基础上,在 “反洗黑钱与反恐怖融资”,“加强对数码支付代币供应商监管”等方面作出了改善。它不仅仅完善了新加坡的支付服务监管框架,与全球接轨。金管局也能够灵活地从多方面对应种种风险。

Continue reading “新加坡国会已通过付款服务(修正)法案 防范洗黑钱与恐怖融资行为以及加强对数码支付代币供应商的管制”

COVID-19 Updates for Singapore Employers: Cost Reduction, Mandatory Notifications, and Government Support from the Fortitude Budget

Download a PDF of this Alert

Following the end of the circuit breaker period on 1 June 2020, Singapore is implementing a gradual resumption of business. During this period, employers are likely to continue to have concerns over cost-saving and business continuity measures and the government support available to them.

 

Since our previous article, there have been a number of updates and advisories from the Ministry of Manpower (MOM) providing additional guidance to employers during the circuit breaker period and beyond. Shortly before the end of the circuit breaker period, the Singapore government had also presented the Fortitude Budget on 26 May 2020, which includes, among other things, additional support for employers.

Continue reading “COVID-19 Updates for Singapore Employers: Cost Reduction, Mandatory Notifications, and Government Support from the Fortitude Budget”

COVID-19 Updates for Singapore Employers: Safe Distancing, Cost Reduction and Government Support

Download a PDF of this Alert

This article was originally published on 3 April 2020 and last updated on 27 April.

As of 27 April 2020, Singapore has reported more than 13,000 cases and 12 deaths due to the COVID-19 pandemic. While the number of new cases in the local communities have started to level off, many of the new cases are unlinked, pointing to a larger, as-yet undetected reservoir of cases in Singapore. As such, there is the continued need to be vigilant in enforcing social distancing and isolation measures.

Even as countries all over the world begin increasing such preventative health measures, the pandemic is also devastating the global economy, including Singapore. During times of economic downturn and uncertainty, controlling fixed costs such as labour becomes even more pressing for companies. Businesses in almost every sector have been impacted by the COVID-19 pandemic, and many are looking to cut costs during this period of crisis. While every business faces unique considerations, the following guidance aims to clarify issues relating to safe distancing practices at the workplace, cost-saving and business continuity measures, and the available government support during this health and economic crisis for Singaporean businesses.

Continue reading “COVID-19 Updates for Singapore Employers: Safe Distancing, Cost Reduction and Government Support”

Loan Obligations: Relief Measures During the COVID-19 Pandemic

Download a PDF of this Alert

On 31 March 2020, the Monetary Authority of Singapore (MAS) announced a package of targeted relief measures that was rolled out together with the Association of Banks in Singapore, the Life Insurance Association, the General Insurance Association and the Finance Houses Association of Singapore to provide temporary relief for individuals and small- and medium-sized enterprises (SMEs) facing liquidity problems during the COVID-19 pandemic. In this collapsing world economy, these measures could be a lifeline to stave off bankruptcy and winding-up actions.

Continue reading “Loan Obligations: Relief Measures During the COVID-19 Pandemic”

신종 코로나 바이러스 (COVID-19): 현재까지의 법적 영향 및 향후 전망

PDF 다운로드

2020년 3월 11일 세계보건기구 (WHO)는 신종 코로나바이러스(이하 “COVID-19“)의 발병을 세계적인 유행병으로 선언했습니다. 2020년 4월 14일 기준으로 세계적으로 186만 4,360명이 COVID-19 감염 확진 판정을 받았으며 사망자는 11만 8,246명입니다. COVID-19는 전 세계적으로 큰 영향을 끼쳤습니다. 각국은 국경을 폐쇄하고 지역 봉쇄를 통해 국민들의 움직임에 제재를 가하기 시작했습니다.

Continue reading “신종 코로나 바이러스 (COVID-19): 현재까지의 법적 영향 및 향후 전망”

Dealing with COVID-19 in the Construction Industry – An Update

Downlad a PDF of this alert

Note: This is an update to our 7 April 2020 Alert.

On 3 April 2020, the Building and Construction Authority (BCA) released an advisory to inform contractors that to reduce the risk of further local transmission of COVID-19, all building work (except for essential works) are to cease from 7 April 2020 to 4 May 2020, known as the Circuit Breaker Period.

Continue reading “Dealing with COVID-19 in the Construction Industry – An Update”

COVID-19: The legislative framework for the security and use of electronic signatures in Singapore

Download a PDF of this alert

For most of us working from home and actively telecommuting to help stem the tide of local transmissions of COVID-19 during this crucial period, technological advancements in digital communication and remote access have been a boon.

It is thus timely to restate the guiding principles of “electronic signatures” and their use in electronic records and transactions that have become increasingly commonplace.

Continue reading “COVID-19: The legislative framework for the security and use of electronic signatures in Singapore”

Required Annual General Meetings for Singapore Companies During COVID-19 Restrictions

Download a PDF of this alert

The COVID-19 pandemic has necessitated the implementation of safe distancing measures as well as the current “circuit breakers” by the Singapore government. Many companies incorporated in Singapore are statutorily required to hold their annual general meetings (AGMs) while such control measures are in place, which may prevent AGMs from taking place by the stipulated period.

Continue reading “Required Annual General Meetings for Singapore Companies During COVID-19 Restrictions”

COVID-19 (Temporary Measures) Act 2020

Download a PDF of this alert

On 7 April 2020, the Parliament of Singapore passed two important pieces of COVID-19 legislation:

  1. the COVID-19 (Temporary Measures) Act 2020. The Act provides temporary relief to those affected by the COVID-19 pandemic and gives the government powers to make control orders; and
  2. the COVID-19 (Temporary Measures) (Control Order) Regulations 2020. The Control Order, issued pursuant to the Act, prohibits all social gatherings from 7 April 2020 to 4 May 2020.

This article summarizes the key features of the Act and the Control Order.

Continue reading “COVID-19 (Temporary Measures) Act 2020”

COVID-19 Updates for Singapore Employers: Safe Distancing, Cost Reduction and Government Support

Download a PDF of this alert

As of 5 April 2020, Singapore has reported more than 1,300 cases and six deaths due to the COVID-19 pandemic. While Singapore is handling the COVID-19 pandemic better than most nations, the crisis continues to intensify at an increasing rate. As such, there is the continued need to be vigilant in enforcing social distancing and isolation measures.

Continue reading “COVID-19 Updates for Singapore Employers: Safe Distancing, Cost Reduction and Government Support”

© 2009-2025 Duane Morris LLP. Duane Morris is a registered service mark of Duane Morris LLP.

The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

Proudly powered by WordPress