Project Details

We advised a Japanese bank on its outsourcing contract by reviewing the existing agreement to ensure its validity and enforceability under Singapore law. Specifically, we assisted in clarifying terms, ensuring consistency, and protecting the bank’s rights and interests. We also amended the agreement to align with the Monetary Authority of Singapore (MAS) outsourcing guidelines and added relevant clauses to strengthen the regulation of the parties’ rights and obligations, further safeguarding the bank’s interests.

Outcome

With our assistance, the client established a compliant outsourcing agreement that adhered to Singapore law and MAS guidelines, ensuring its rights were well-protected and that the terms with its outsourcing partner were clear and consistent.

Project Details

We assisted a Singapore governmental industry association with a comprehensive range of contract review and legal advisory services. Our scope of work included drafting terms and conditions for vendor contract templates, reviewing the wording of key documents such as NDAs, PDPA policies, and regulatory examination terms, and supporting the annual review of vendor contracts. We also provided guidance on legal and regulatory compliance requirements, including updating the association on any changes in regulations. Additionally, we supported the association’s monthly risk assessments and rendered advice on the obligations and risks associated with entering into counterparty contracts. In the event of incidents, claims, breaches, or violations, we provided counsel on available legal recourse.

Our services also included corporate secretarial support. Under the retainer, we offered general business operations advice, reviewed commercial documents and contracts, conducted brief research, and provided legal and corporate secretarial support as needed.

Outcome

As a result of our extensive contract review and legal advisory support, the client was able to ensure that its vendor contracts, NDAs, PDPA policies, and other key documents complied with legal and regulatory requirements. Our guidance helped the association to mitigate risks, maintain compliance with evolving regulations, and make informed decisions regarding counterparty contracts. The annual reviews and updates we facilitated enabled the association to stay ahead of potential legal and regulatory issues, and our ongoing corporate secretarial support also ensured smooth operations. This provided the association with a robust legal framework, enabling them to confidently manage their operations.

Project Details

We provided legal advisory services to a debt collection agency regarding compliance with the Monetary Authority of Singapore’s (MAS) new measures on digital banking.

Our scope of work included reviewing the client’s business model, specifically its use of QR codes and links in communications with customers for digital banking. We also reviewed MAS’ recent announcements, proposed frameworks for equitable loss sharing in scams, and relevant guidelines from the Payments Council.

Based on this review, we drafted a limited legal opinion assessing whether the client needed to implement enhanced measures to prevent and detect scams, as well as to handle incidents and provide customer service effectively in the event of a scam.

Outcome

As a result of our legal advice, the debt collection agency was able to ensure its compliance with the Monetary Authority of Singapore’s (MAS) new digital banking measures. The agency gained a clear understanding of its obligations regarding the use of QR codes and digital links, and it was equipped to implement necessary safeguards against scams. Our guidance helped the agency enhance its incident handling and customer service processes, thus minimising legal risks and ensuring alignment with MAS’ regulatory expectations.