Singapore Legal Update - July 2019
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23 July 2019
All the latest legal news & updates from Singapore during July 2019.
SGX Amends the Voluntary Delisting Regime in Favour of Minority Shareholders
The SGX has amended the voluntary delisting regime. Among other things, exit offers must be both fair and reasonable and the offeror and parties acting in concert with it may not vote. The changes are intended to afford greater protection to minority shareholders.
Regulatory Developments Affecting Financial Advisers
The MAS recently issued Guidelines on Provision of Financial Advisory Services, which set out the approach of the MAS to determining whether a person is providing financial advisory services in Singapore. In a separate development, it clarified recently that a financial adviser that ceases business will only have its licence cancelled once it can show that it has properly discharged its obligations to its clients or has a good reason for not doing so.