CNPLaw participates in the Payment Regulatory Evaluation Program for Payment Firms to access legal services

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CNPLaw participates in the Payment Regulatory Evaluation Program for Payment Firms to access legal services


Published date: 8 October 2019


Partner In Charge: Quek Li Fei.




 

On 6 September 2019, the Monetary Authority of Singapore (“MAS”) and the Singapore Academy of Law (“SAL”) launched a new Payments Regulatory Evaluation Programme (“PREP”) to help connect the payments industry with legal service providers.

Under PREP – payment firms have access to a list of legal service providers and can be assured that the regulatory assessment conducted by the legal service provider is comprehensive. Based on a payment firm’s response to a standard questionnaire about its business in Singapore, it can expect to receive a customised assessment report on regulations applicable to its payments business.

CNPLaw LLP is pleased to support PREP and we have, on 12 September 2019, indicated our interest to SAL to participate in PREP. Interested payment firms may access the following resources on the SAL website:

 

CNPLaw’s Banking and Finance Lawyer

Quek Li Fei Legal Partner at CNPLaw LLP image

Partner

In addition to Li Fei’s experience in acting for banks on varied transactions and in general corporate law, he also helps individuals in estate planning, including the legal aspects of wealth management, advising on and setting up trusts and off-shore structures to secure their future and the future of their families.



The lawyers from the Banking & Finance Practice Group (BFPG) have always taken pride in providing a comprehensive range of banking and finance services to our clients, including domestic and foreign international banks, other financial institutions as well as non-bank lenders and borrowers, and foreign legal firms acting for parties outside Singapore.

Our banking & finance practice covers the whole spectrum of domestic and international banking & financing work, including restructurings, financings and financial institutions advisory work. We can draw upon a broad base of partners, senior, mid-level and junior associates, all with strong and varied banking & finance product line and country experience.

Our reach is further widened and enhanced by our ability to draw upon the resources of our network of correspondent firms in the region and globally.





We have a particular passion and interest in blockchain technology applications, cryptocurrencies and ICOs. We currently advise issuers of tokens, ICO advisors, venture capital firms and entrepreneurs involved in this space on Singapore legal issues and regulatory compliance for a range of planned business activities, ranging from utilization of blockchain to enable business applications in diverse fields (including money remittance, solar energy, consumer rewards, structured social interaction; music and entertainment industry; holiday & leisure industry; employment marketplace, consumer rewards, crypto asset security applications); to setting up cryptocurrency exchanges and issue of tokens on proprietary platforms.





We advise both private and public (whether listed or non-listed) companies on corporate governance and compliance issues to help them acclimatise and thrive in a regulatory landscape that is becoming increasingly complex.

Besides providing general advice on director duties and corporate secretarial matters, we help our clients better appreciate the licensing and compliance regimes applicable to the industries that they operate in and review our clients’ administrative and operational procedures for consistency with industry standards.





At CNPLaw, we understand that the current rapid advances in technology are significantly disrupting the way businesses operate and forcing them to evolve to stay relevant. In this fast-changing world, our clients will need lawyers that they can rely on to help them navigate the challenges and stay ahead of the technology game.

Our technology law team constantly monitors the latest technological developments and assesses how they might impact our clients’ businesses. Our mission is to help our clients respond to and embrace these changes to enable them to thrive in this new environment.

We provide our clients with end-to-end, intuitive advice on all forms of technology and e-commerce related transactions.