Partner, Mike Chiam shared his thoughts with Asian Legal Business on the new FSM Act
August 10, 2022
Mike Chiam on the New FSM Act
Partner, Mike Chiam shared his thoughts with Asian Legal Business on the new FSM Act, as Singapore is striving to balance its reputation being a regulation-lite innovation space and a safe and trusted global financial centre. Click here to access the full article (in English) (and in Chinese).
On 5 April 2022, the Financial Services and Markets Act 2022 (FSM Act) was read in Parliament for the second time. The FSM Act enhances “sector-wide” regulatory effectiveness and consolidates some of MAS’ powers into one single Act. With the digitalisation of the financial market, the Act also seeks to impose requirements to “mitigate cyberattacks, technology risks, critical system and administration risks in relation to digital token services and Virtual Asset Service Providers (VASPs)”, as well as underscore the regulation of certain digital token (DT) service providers created in Singapore for anti-money laundering and countering of financing of terrorism (AML/CFT) purposes.
Chambers & Partners – Asia Pacific 2023
PDLegal LLC is pleased to announce that Managing Partner, Peter Doraisamy, has been recognised and ranked by Chambers & Partners (Asia Pacific 2023 for Shipping: Domestic: Litigation). The following quotes appear with Peter’s ranking: –
“Peter Doraisamy of PDLegal in Singapore is a noted shipping lawyer in the market. He handles a wide range of disputes, including ship grounding, cargo and fraud-related cases” – Chambers & Partners – Asia Pacific 2023
“He is excellent in litigation. He has very good control of the case, collecting the right evidence and putting this into a very successful trial.” – Shipping Litigation Client
Chambers and Partners is the leading independent professional legal research company operating across 200 jurisdictions. Chambers and Partners delivers detailed rankings and insights into the world’s leading lawyers and law firms.
This ranking is a testimony to the expertise and experience of the Firm’s shipping practice and would not be possible without the support of our clients and friends.
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