Publications

The Monetary Authority of Singapore has on 2 February 2024 published a consultation paper proposing a reduction in the amount of information collected by financial institutions from their clients when making recommendations for selected insurance policies.

On 1 December 2023, the Debt Collection Act 2022 (“DCA”) came into operation. The DCA sets standards for entities and individuals involved in the activity of debt collection.

When invoking the fraud exception to resist payment on a letter of credit, banks typically argue that the beneficiary had made false representations in the documents presented to the bank.