SYNOPSIS
The Payment Services Act 2019, passed in Parliament earlier this year, will fundamentally refresh payment services regulations in Singapore. The Act streamlines the regulation of payment services within a single activity-based legislation, and will replace the existing legislation for payment systems oversight, money changing and remittance businesses. It will provide a more conducive environment for innovation in payment services, whilst ensuring that risks across the payments value chain are mitigated.
A representative from MAS will share how the new Act will enhance the regulatory framework for payment services in Singapore, strengthen consumer protection and engender confidence in the use of e-payments. Learn about the journey towards regulation that is modular, activity-based and facilitative of growth and development in the Singapore payments landscape.
Also, hear from a practitioner on the concerns and issues that may face the industry with the passing of the PS Act and its potential impact on current businesses.
ABOUT THE SPEAKERS
Ow Kim Kit
Ow Kim Kit is a partner in the Banking & Finance group of Bird & Bird ATMD LLP. Her practice encompasses advising clients on issues relating to financial regulatory matters, corporate and investment banking transactions, wealth management and private banking, as well as Fintech matters. She has spent a number of years working in-house, at Scotiabank and Credit Suisse, where she advised on the legal aspects of investment and private banking product development, transactions and documentation. Kim Kit also worked as Senior Legal Counsel at the Monetary Authority of Singapore (MAS) where she was involved in the calibration and drafting of Singapore's banking laws and regulations and the development of the wealth management, intermediaries and trust industry in Singapore. Kim Kit was appointed as the Asian regional director for the International Chamber of Commerce (“ICC”) International Court of Arbitration and ICC Dispute Resolution Services in December 2009. In that role, she was responsible for promoting ICC’s dispute resolution services throughout South and East Asia and Australasia. She was then appointed the Managing Director of the ICC Academy and was responsible for the setting up of its operations and e-Learning platform. In February 2018, Kim Kit was appointed onto the ICC Commission on Arbitration and ADR."
Jo Yeo
Jo is the payments policy lead at the Monetary Authority of Singapore (MAS) and is project director for the recently enacted Payment Services Act. At the FinTech & Innovation Group (FTIG) of MAS, she is responsible for promoting safe and efficient payment solutions.
Prior to joining FTIG as Deputy Director, Jo was Assistant General Counsel at the MAS Legal Department. In that role she advised extensively on financial services regulations and free trade agreements. Her private practice experience was at Allen & Gledhill and Amica Law.
Jo graduated from the National University of Singapore with an LLB (Hons) Degree, and was called to the Singapore bar. She has a Master of Laws from University College London, and is a non-practising solicitor of England and Wales.
FEES
a. Seminar fee
Seminar fee of S$150* (inclusive of GST) applies.
b. Group discount fee
Group discount fee of S$135* (inclusive of GST) applies if there are at least 10 participants from the same organisation.
c. SMU Alumni fee (for LLB / JD / LLM graduates)
Seminar fee of S$135* (inclusive of GST) applies for SMU LLB / JD / LLM Alumni.
*Please note that there will be no refund of any fees should the participant cancel the registration/ fail to attend the seminar. However, registration is transferable. Notice of any change in participant should be sent to the Academy via email: smulawacademy@smu.edu.sg, by 27 September 2019.
SMU School of Law reserves the right to cancel or postpone any event. In such case, we will arrange for the refund of seminar fees paid.
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