RHTLaw Taylor Wessing’s Head of Regulatory Practice Nizam Ismail was featured in Thomson Reuters Risk Management Solutions' State of Regulatory Reform 2017: A Special Report.
The annual report covers predictions of what the regulatory landscape will entail in this coming year for markets such as the Americas, Middle East and Africa and the Asia-Pacific.
In the Asia-Pacific section, the special report noted market misconduct and anti-money laundering (AML) are seen as Singapore's top concerns. Nizam commented, "MAS has begun to focus more on corporations and financial institutions, following the introduction of regulations for corporate derivative liability". In relation to the MAS's shutdown of BSI Bank and Falcon Bank, Nizam said the liability risk for the firm lies in individuals, including senior managers, who were involved in or who condoned practices such as facilitating money laundering.
This year is also seen to be the year of consolidation, supervision and enhanced surveillance of MAS's AML efforts. "There will be a stronger focus on cross-border money laundering activity, an area where the Financial Action Task Force (FATF) deemed Singapore to have fallen short. There will also be more AML enforcement, asset forfeiture and terrorist financing prosecution”, Nizam shared.
The full report can be found in Thomson Reuters Risk Management Solutions website, under the special reports section titled 2017 State of Regulatory Reform.
Leading international law firm RHTLaw Taylor Wessing announced today the addition of Partner (Foreign Lawyer) Mr Gerallt Wyn Owen, Mr Ben Constance, and Foreign Lawyer Mr Gilad Shay.
The new hires complement the Firm’s focus on developing industry-focused capabilities for clients and will help enhance a reputation for understanding clients’ businesses and for delivering innovative services that anticipate their needs. All three lawyers also have proficiencies in handling complex cross-border transactions.
RHTLaw Taylor Wessing Managing Partner Mr Tan Chong Huat commented, “We are excited to welcome our three new hires - all exceptional lawyers in their field. Their individual expertise will be a welcomed addition to our global team and will continue to strengthen the services that we can offer clients. They boast world class capabilities in their respective industries, blending well with the Firm’s vision of being an international law firm based in Asia. Gerallt, Ben and Gilad will contribute invaluably as expert legal advisors and will be seen as “go-to” industry practitioners by our clients. This is a significant addition to our bench strength.”
Gerallt is a senior international corporate crime and regulation lawyer with more than 21 years of experience. His strengths are in domestic and international investigations, fraud, corporate and financial crime, anti-corruption, anti-money laundering, disciplinary proceedings and regulation. Gerallt has previously been listed as one of 'The Lawyer - Hot 100'. He was also recommended by Chambers & Partners Global 2014 and 2015 for dispute resolution in both Singapore and the UK, in addition to being ranked by Who’s Who Legal as one of the top ten most highly regarded business crime defense lawyers in the world based outside the UK/US. Gerallt will be part of the Firm’s Litigation & Dispute Resolution Practice.
Ben joins the Firm’s Corporate Practice, bringing with him close to 15 years of experience in handling matters relating to cross-border M&A, equity capital markets and general corporate law. He has advised on transactions in Asia, Australia and throughout the Middle East in various sectors including banking and financial services, hospitality, information technology and energy. Ben has written various articles for International Law Office, Dubai SME magazine, Allorya.com and Australian Business Council Dubai.
With over 10 years of experience, Gilad is an addition to the Firm’s Capital Markets, Corporate and Intellectual Property & Technology Practices. He has extensive experience in cross-border commercial and technology-focused transactions, M&A deals, joint ventures and in advising on intellectual property matters. He is especially engaged in matters relating to Israel, Singapore and the ASEAN region and has advised Fortune 500 companies, investors and start-ups. Gilad was part of the professional team in the first Initial Public Offering of an Israeli technology company on the Singapore Stock Exchange in over a decade.
This press release is featured in the following news reports:
"SG: RHTLaw adds Withers’ head of international regulatory" - Asian Legal Business, 7 February 2017