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Global employment briefing: Singapore, October 2017
New Tripartite Standards on employing fixed term contract employees The Tripartite Standards on the Employment of Term Contract Employees (the “Standards”) was launched on 31 July 2017. Jointly developed by the Ministry of Manpower (MOM), National Trades Union...
Partner S Suressh comments in The Straits Times that decision to increase anti- money- laundering inspections done at law firms is in line with Singapore’s national interests
Eversheds Harry Elias Partner, S Suressh was quoted in The Straits Times article titled ‘Over 5,000 lawyers and counting as Law Society turns 50’ The article was first published in The Straits Times on 5 October 2017. Between September 2016 and end- Aug 2017, Law...
Whose scheme is it anyway?
The law on schemes of arrangement in Singapore after SK Engineering Construction Co Ltd v Conchubar Aromatics Ltd and another appeal [2017] SGCA 51
Punching above its weight: Bold new changes to Singapore’s debt-restructuring regime
Introduction 1. With effect from 23 May 2017, the provision in the Companies (Amendment) Act 2017 (the “Act”) became operative. The modifications to the Companies Act come as part of Singapore’s push to become an international choice of forum for...
Navigating personal data protection pitholes in the MCST context: key takeaways from two recent decisions
The Personal Data Protection Act 2012 (“PDPA”) came into force in phases starting with the provisions relating to the formation of the Personal Data Protection Commission (“PDPC”) on 2 January 2013. The PDPC serves as Singapore’s main authority in matters relating to...
Asia IP – Eversheds Sutherland and Harry Elias
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Caught between a rock and a hard place, a Hong Kong-Based accounting firm agrees to revocation of its US registration with the PCAOB
On July 25, 2017, the United States Public Company Accounting Oversight Board (“PCAOB”) issued a settled disciplinary order censuring the registered public accounting firm Crowe Horwath (HK) CPA Limited (“Crowe Horwath (HK)”), a partnership located in the Hong Kong...
The Trump Administration and Chinese Investment in the US
The United States maintains an “open door” policy on foreign investment, and generally welcomes overseas investors, including from mainland China. The key organisation responsible for reviewing inbound investment is the “Committee on Foreign Investment in the...
UAE severs diplomatic ties with Qatar
Current Position The governments of the UAE, Egypt, Saudi Arabia, Bahrain, Libya, Yemen, Jordan, Mauritius, Mauritania and the Maldives are all reported to have severed diplomatic ties with Qatar last week (week commencing 4 June 2017). In a press release issued...
The HKMA’s Bank Culture Reform Circular: How is it relevant to me?
Culture Reform The Hong Kong Monetary Authority (“the HKMA”) released a circular entitled "Bank Culture Reform” on 2 March 2017. The circular sets out a framework for establishing a sound corporate culture within an Authorized Institution (“AI”) based around the...