Dechert LLP (JD Supra Singapore)

Naturally, there will be disputes relating to COVID-19 and efforts to contain its spread. These will often be resolved through negotiation, particularly if the relevant contract clearly allocates the risk between the parties of force majeure events. Some long-term contracts, however, may need to be renegotiated as a result of turbulence in the market.

Contractual rights agreed in the past may look very different today and may not be enforceable tomorrow, but (strangely) could be in the future. Such are the historic times we are living through. 

Singapore passed the Variable Capital Companies Act 2018 into law on 31 October 2018. This introduces a new type of Singapore fund vehicle, the Variable Capital Company (VCC), which will now serve as an alternative to other types of vehicles such as companies, partnerships and unit trusts. On the face of it, the VCC appears to be an attractive vehicle for Singapore fund managers, as it offers...

With decorated trees, snow on the ground (and painted on the walls), coffee cups coloured red and green, and spiritual imagery regularly seen; it is a time for goodwill, festive cheer and reflection. But does this general sense of merriment and peace to all extend to a desire to resolve commercial disputes through non-contentious means? In this briefing we explain why the answer to that question...

The Monetary Authority of Singapore (MAS) on 20 October 2017 announced a lighter-touch regulatory regime for qualifying venture capital (VC) fund managers in Singapore. The new regime is aimed at promoting the fund management industry and increasing funding for local early-stage start-ups in Singapore. That said, drawing from the American and European experience, it remains to be seen whether the

Singapore is poised to become the first jurisdiction in Asia to introduce legislation permitting the use of third party funding in support of international arbitrations and related proceedings.? This follows the passing of the Civil Law (Amendment) Bill by the Singapore Parliament on 10 January 2017. In this OnPoint briefing, we explain what third party funding is and how it can soon be...

The first edition of the SIAC Investment Arbitration Rules (the SIAC IA Rules) was released on 30 December 2016 and came into force on 1 January 2017. In releasing the SIAC IA Rules, SIAC has become the first commercial arbitration institution in Asia to release a set of rules customised for international investment arbitration. To mark the occasion we provide this client briefing on the key...

The sixth edition of the arbitration rules of the Singapore International Arbitration Centre (SIAC) entered into force on 1 August 2016. To mark the occasion we provide this client briefing on the key features of the new rules. - The 2016 SIAC Rules will apply to disputes referred to SIAC from 1 August 2016, unless the parties agree otherwise. - SIAC has retained the structure and...

The Monetary Authority of Singapore (MAS) continues to develop and strengthen its regulation of derivatives markets, most recently focusing its attention on the formulation and completion of a comprehensive reporting regime. In January 2016, MAS consulted on proposed amendments to the Securities and Futures Regulation relating to MAS’ derivatives reporting regime (Consultation) that could extend...

Working Group Issues Consultation Paper - The working group consisting of six participating countries (Singapore, Australia, South Korea, New Zealand, Thailand and the Philippines) in the Asia Region Funds Passport initiative (“ARFP”) released a consultation paper (the “Consultation”) on 27 February 2015, on the proposed eligibility criteria, operational details and application process of...

Regulation of OTC Derivatives and Singapore Regulatory Reforms - The Monetary Authority of Singapore (“MAS”) published a consultation paper on the proposed amendments to the Securities and Futures Act (the “SFA”) which proposes to extend the SFA to regulate OTC derivatives. The consultation paper clarified that contracts booked in Singapore are subject to the derivatives reporting...

Subsequent articles in this Quarterly Report focus on the recent history of the treatment of private funds in China, a new route to trade Shanghai-listed securities, and funds passporting in Asia. With the opening of our office in Singapore – our 27th globally – we wanted to introduce readers to another of the key global financial centres.