September 26, 2016

RHTLaw Taylor Wessing Managing Partner Tan Chong Huat shared his views on “Bridging the trust gap” in this week’s Views from the Top

RHTLaw Taylor Wessing’s Managing Partner Tan Chong Huat shared his views in this week’s topic in the Business Times’ weekly column, Views from the Top. This article was first published in The Business Times on 26 September 2016. Bridging the trust gap SEP 26, 2016 5:50 AM THIS WEEK'S TOPIC: What can be done - by business leaders and companies - to build trust? Tan Chong Huat Managing Partner RHTLaw Taylor Wessing LLP At the risk of over simplifying the subject, I would recommend that business leaders and companies remember the acronym "GRACE" ie Governance, Risk, Anti-Money Laundering, Compliance & Ethics. These are important virtues when it comes to building trust.  The embracing of each and every one of them will be essential to guide and promote trust, and prevent the destruction of trust that have been established, built over time and maintained between companies and stakeholders. Good governance that delivers performance and profitability which complies with regulations (among others, anti-money laundering as in the recent BSI / 1MDB case), conforms with good ethics, and is equipped with adequate and effective risk management will offer a good trust-enabling framework. Needless to say, the honesty, diligence and accountability of business leaders will be of foremost importance in determining the trust quotient of the companies they helm. Examples include Dr Cheong Choong Kong (Singapore Airlines) and Warren Buffet (Berkshire Hathaway), just to name a notable few. Over time, some of these companies become great institutions which are trusted and loved by their stakeholders, with a distinctive culture of honour and integrity. Hence the importance of "GRACE"
September 23, 2016

RHTLaw Taylor Wessing Family & Matrimonial Partner Michelle Woodworth invited to speak at a conference organised by Singapore Academy of Law and the Honourable Society of the Middle Temple

RHTLaw Taylor Wessing Family & Matrimonial Partner Michelle Woodworth was invited to speak at a conference organised by Singapore Academy of Law and the Honourable Society of the Middle Temple titled “Recent Developments in Law and Practice in the UK and Singapore”. The conference was held over two days from 23-24 September 2016 at the Supreme Court Auditorium Singapore. Honourable Judge of Appeal Justice Chao Hick Tin from the Supreme Court of Singapore gave the opening remarks. Michelle spoke about "Developments in Family Law” where topics discussed included: •    Developments in the Approach to a “Just and Equitable” Division of Matrimonial Assets •    Developments in post-divorce maintenance •    Parental responsibility as substantive principle regulating parenting Other renowned speakers comprised Professor Leong Wai Kum from Faculty of Law, National University of Singapore and Ms Ann Hussey QC from 1 Hare Court.  The conference was attended by practitioners, judges and academics professionals from both the UK and Singapore.
September 23, 2016

RHTLaw Taylor Wessing Family & Matrimonial Partner Michelle Woodworth featured in The Singapore Women’s Weekly

RHTLaw Taylor Wessing’s Family & Matrimonial Partner Michelle Woodworth was featured in an article in The Singapore Women’s Weekly titled “Brangelina is over! Here’s how to prevent a divorce from getting ugly”.   The article was first published in The Singapore Women’s Weekly dated September 21, 2016.   Brangelina is over! Here’s how to prevent a divorce from getting ugly   Source: The Singapore Women’s Weekly © 2016 SPHM Pte Ltd Date: 21 September 2016 Author: Negotiation methods: Michelle Woodworth / Additional reporting: Elizabeth Liew After twelve years of being together and just two years of marriage, actress, filmmaker and humanitarian Angelina Jolie has reportedly filed for divorce from actor-husband Brad Pitt, citing “irreconcilable differences”. With six children between them (three biological, three adopted), shared properties in the US and Europe, and reports of infidelity on Brad’s part (innocent until proven guilty, we say), how exactly will this split play out? Angie is reportedly claiming full physical custody of the children, and granting only visitation rights to Brad. Still, it’s too early to tell what exactly will happen. The worst thing that can happen, of course, is a long and bitter divorce that nobody wants. Such cases can place undue burden on both parties’ emotional health, and especially so if children are involved. If you or someone you know has taken the difficult step in deciding to end their marriage, there are ways to help make it as painless a proceeding as possible. In Singapore, divorce is usually a 2-stage process, comprising of the divorce stage (where one has to prove that the marriage is broken down beyond repair), and the ancillary matters stage, where parties deal with care arrangements for the children (if any), division of the matrimonial home and assets, spousal maintenance, maintenance for children (where applicable), etc. Michelle Woodworth, Partner at RHTLaw Taylor Wessing LLP, shares on how to have as smooth and painless a divorce as possible: Request for an uncontested divorce process Should both parties agree on the terms of divorce and all ancillary matters, you can shorten the trial time expended (and perhaps minimise the pain that comes with it) by applying for divorce proceedings to be placed on a simplified uncontested hearing track. This means that the divorce and ancillary matters will be dealt with by the Court in a consolidated manner, saving you time, money and effort as compared to a traditional litigious process. However, if reaching an agreement on ancillary matters is difficult, parties can attempt to negotiate via the following three methods: 1. Collaborative Family Practice (CFP) CFP is a process of negotiation that occurs before any court proceedings begin, in which specially trained CFP lawyers will help couples to negotiate an agreement and avoid an acrimonious litigation proceeding/divorce trial. And to increase the incentive for parties to work towards a settlement in the CFP process, their respective lawyers cannot represent them again in future litigation should this method fail. 2. Private Negotiation In the best case scenario, if you and your spouse are able to come to an agreement privately without the assistance of external parties, you may proceed to file your divorce papers personally at the Crimsonlogic Service Bureau located at Chinatown Point or the Supreme Court in Singapore. 3. Mediation Parties can also choose to invite a neutral third party to mediate the matter. For example, professional mediators from the Singapore Mediation Centre may be appointed as a neutral third party. This person will assist both parties to reach an agreement by facilitating the negotiation process, and provide a confidential and safe platform for resolution.
September 23, 2016

RHT Compliance Solutions Hosted Flagship Compliance Summit “Getting Smart and Getting Tough”

RHT Compliance Solutions organised its flagship Compliance Summit titled “Getting Smart and Getting Touch” at Suntec Convention Centre on 22 September 2016. RHTLaw Taylor Wessing Chairman and Senior Consultant Professor Walter Woon SC gave the welcome address. We were delighted by the turnout of about 250 guests, mostly from the legal and compliance community in financial services. Four interesting panel discussions were held covering the following themes: AML in Focus – how certain unprecedented enforcement actions in Singapore by the MAS has put AML front and centre, and how financial institutions should react.  Role of technology in compliance – with increasing complexity of regulations, there is a need to leverage on technology for compliance. Anti-Corruption – dissecting issues such as the impact of 1MDB on anti-corruption programs, dealing with cross-border risks, innovative approaches towards anti-corruption program and handling cross-border investigations. Compliance culture – how recent enforcement actions has put compliance culture in the forefront, designing a program to promote compliance culture, measuring compliance culture, and a debate about the need to have an accreditation program for compliance officers in Singapore FinTech and Compliance – the inherent tensions between innovation and regulation, the importance of having a risk-focused compliance program for Compliance Officers. We were also privileged to have a speaker from HK’s Independent Commission Against Corruption to present on Asset Forfeiture in Corruption. This Summit took place as part of the UK Government’s International Anti-Corruption Week –Tackling Financial Crime Together organised by the British High Commission in Singapore.