Changes Introduced by the SIAC Rules 2025
With the 7th edition of the Arbitration Rules of the Singapore International Arbitration Centre ("SIAC Rules 2025) coming into force on 1 January 2025, the SIAC has introduced several major updates aimed at enhancing the efficiency, transparency and flexibility of arbitration proceedings conducted under the SIAC framework. The new rules apply to any arbitration commenced on or after 1 January 2025, regardless of when the arbitration agreement was concluded, unless parties agree otherwise.
Johor-Singapore Special Economic Zone (JS-SEZ): opportunities, challenges and outlook
The Johor-Singapore Special Economic Zone ("JS-SEZ") symbolises a new era of collaboration between Malaysia and Singapore. Officially inaugurated on 7 January 2025, during the 11th Malaysia-Singapore Leaders' Retreat, the JS-SEZ aims to create a dynamic economic corridor that leverages the strengths of both nations. This initiative, signed into agreement by Singapore's Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, and Malaysia's Minister of Economy, Rafizi Ramli, and witnessed by Prime Ministers Anwar Ibrahim and Lawrence Wong, sets forth an ambitious vision to enhance cross-border connectivity, foster a thriving business ecosystem, and attract global investments. While the JS-SEZ holds significant potential, both governments expect to navigate a complex landscape to ensure its long-term viability.
Johor-Singapore Special Economic Zone: May 2025 update
Singapore has taken a major step forward in realising the Johor–Singapore Special Economic Zone ("JS-SEZ") with the launch of a Joint Project Office ("JPO") between Enterprise Singapore and the Economic Development Board on 21 April 2025. Announced by Singapore Deputy Prime Minister Gan Kim Yong, the JPO will serve as a one-stop centre for Singapore-based companies looking to expand across the border. Minister Gan described the initiative as both "important and timely, highlighting the deepening collaboration between the two countries amidst a global climate of protectionism and shifting supply chains driven by renewed US tariff risks.
Workplace Fairness Bill: what it means for employers and employees
On the 8th of January 2025, Parliament passed the Workplace Fairness Bill (Bill No. 50/2024)(the "Bill). Built upon the recommendations made by the Tripartite Committee on Workplace Fairness ("the Committee") which was formed in July 2021, the Bill aims to protect workers from discrimination in hiring, during employment, and in relation to termination (Part 2 of the Bill). The Bill is the first of two Bills concerning workplace fairness, and its scope covers the substantive rights and obligations of the employees.
Unpacking the CCCS Environmental Guidelines: insights on competition and sustainability in Singapore
Singapore's environmental efforts have become more urgent as it works toward net-zero emissions by 2050 under the Paris Agreement. These efforts include collaborations between private companies to pursue various environmental objectives which may give rise to competition law concerns during such cooperation. To support private companies in tackling climate change, conserving resources and promoting green innovation, the Competition and Consumer Commission of Singapore ("CCCS") on 1 March 2024, issued the "Environmental Sustainability Collaboration Guidance Note" to supplement the parameters in which companies can collaborate without infringing on the Competition Act. In response to an application made under the streamlined process for environmental collaborations announced in the Guidance Note, the CCCS issued its first positive guidance on 3 January 2025. This first positive guidance represents an important milestone in allowing companies to work together for environmental objectives without raising undue competition concerns.
The Monetary Authority of Singapore (MAS) recently responded to public feedback on its proposed regulatory framework for Digital Token Service Providers (DTSPs) under part 9 of the Financial Services and Markets Act 2022 (FSMA). As mentioned in our previous update on this topic, the MAS consultation was opened on 4 October 2024 and closed on 4 November 2024.
This note discusses the implications of the Monetary Authority of Singapore's ("MAS) consultation paper seeking feedback on proposed amendments to the current regulations on advertisements of financial products and services. The amendments proposed would remove existing exclusions from advertising requirements in relation to product advertisements, altering how financial institutions ("FIs"), including fund managers relying on prospectus exemptions in marketing their funds, will need to approach their marketing materials.
This note summarises the Monetary Authority of Singapore's ("MAS") consultation paper seeking feedback on proposed amendments to the anti-money laundering and countering the financing of terrorism ("AML/CFT") Notices and the Guidelines to the relevant AML/CFT Notices ("AML/CFT Guidelines") for financial institutions ("FIs") and variable capital companies ("VCCs").