Events

Event Overview

*This event is strictly for in-house counsel only.

The Payment Services Act 2019 was passed in Parliament in January 2019. The new legislation consolidates the two current key legislations regulating various types of payment services into a single Act. The new Act also seeks to regulate new types of payment business models and expands the scope of regulated payment services.

The primer will provide an overview of the new consolidated payment services legislation and the business activities which it seeks to regulate. Participants will gain an understanding on the modular, activities-based licensing framework of the new legislation, and key business conduct and risk mitigation requirements which payment services business have to consider in navigating and complying with the new payment services regulatory landscape.

Event Content

• Evolution of the payment services regulations in Singapore and the establishment of the new activity-based payments services regulatory framework
• Overview of the new licensing regime under the Payment Services Act 2019 and the types of business activities covered
• Exemptions and transitional arrangements
• Risk mitigation and business conduct requirements

 Programme

Speaker Profiles

Regina Liew

Head, Financial Institutions Group

Rajah & Tann Singapore LLP

Regina leads the firm's specialised practice, Financial Institutions Group, and has more than 2 decades of experience.

Regina has also been recognised as a Band 1 lawyer for Banking & Finance: Regulatory by Chambers Asia Pacific since 2015, and is known to be "highly experienced in the Singapore market and has her finger on the pulse of financial institutions and regulators." According to IFLR1000 (2019), Regina is recognised as a “Highly Regarded” lawyer for Banking and Finance. Recently, the fintech practice she co-heads has been ranked Band 1 in the inaugural Chambers Fintech (2019) where she is also a recognized lawyer.  She is also named as a Global Elite Thought Leader for Asia-Pacific in Who’s Who Legal for Banking 2019.

Benjamin Liew

Partner, Financial Institutions Group

Rajah & Tann Singapore LLP

Benjamin Liew is a Partner with the firm’s Financial Institutions Group, and has acted for a diverse range of financial institutions including investment banks, private banks, local and foreign retail banks, insurance companies, investment advisers, fund managers, securities brokers, derivatives dealers and commodity traders.

Benjamin is recognised in The Legal 500 Asia Pacific (2017 and 2018 Edition) as a Next Generation Lawyer for Financial Services Regulatory in Singapore. He also recently completed a secondment stint under the Ministry of Law – Economic Development Board Specialist Secondment Programme at one of the Singapore banks.