This article examines the effect by imposing higher board independence requirement on private benefit extraction by corporate management or controlling shareholders in Hong Kong and Singapore, which are both international financial centers transplanting the Anglo-American corporate governance...

In 2015, the ASEAN Economic Community was formally established and its aim was to achieve, among other things, an integrated securities market within ASEAN. Prior to the formal establishment of the ASEAN Economic Community, in 2009, with a view towards achieving the objective of securities...

Many jurisdictions around the world, including Asia, have corporate governance codes largely based on the transnational code drafted by the Organisation for Economic Cooperation and Development (OECD). The core ideas underpinning the OECD's principles of corporate governance are board...

In Madhavan Peter v PP and other appeals, the Singapore court had to consider the scope of the offence of misleading disclosure to the securities market allegedly committed by three directors of Airocean, a company listed on Singapore Exchange (SGX), and the scope of the offence of...

This note discusses Royal Bank of Scotland v. TT International (Re TT International), where the Singapore Court of Appeal had to consider three important issues in relation to the creditors' scheme of arrangement involving a financially distressed company: first, the classification of creditors;...

This article examines the role and utility of opinions rendered by independent financial advisers, who are required to be appointed in connection with takeovers of, and related party transactions entered into by, companies which are listed in Singapore. Three main problems are identified: (i)...

Since the Asian financial crisis of 1997, Hong Kong and Singapore have implemented reforms that promote independence and monitoring competency of the boards of directors of their listed companies. However, with the advent of the financial crisis of 2007/2008, a wave of fraud cases prompts the...

Current scholarship emphasises the correlation between enforcement of corporate and securities laws and strong capital markets. Yet, the issue of how private and public enforcement may achieve the objectives of compensation and optimal deterrence remains controversial. While enforcement...

In 2017, Singapore introduced wide-ranging reforms to its insolvency and restructuring laws with a view to enhancing its attractiveness as an international centre for debt restructuring. Central to these reforms is the transplantation (with modification) of certain provisions from Chapter 11 of...

In Singapore, Hong Kong, and Australia, standard retail investor protection laws do not apply to special categories of individual investors. Issuers and intermediaries can avoid preparing a prospectus and assessing the suitability of a financial product or investment when financial advice is...