For more information on the Regulatory Compliance and Commercial Fraud Practice, please contact Philip Fong at philfong@harryelias.com.sg or Shashi Nathan at shashinathan@harryelias.com.sg.

We have a well-reputed practice in regulatory compliance and commercial fraud. We have advised on complex property offences, corporate and securities breaches, fraud and corruption to regulatory offences under Companies Act, Securities and Futures Act, Listing Manual, Code of Corporate Governance and other regulations governing business conduct of corporations and duties of directors and officers of both listed and unlisted companies. These have ranged from insider dealing, securities fraud, market misconduct and breaches of disclosure requirements under the said statutes.

From time to time, our clients have instructed us to advise them on various regulatory and compliance aspects as a preventive measure. In addition, we have also advised corporations against management/employee fraud and fraud by third parties including advice on corporate governance issues.

In addition to the above, on the regulatory front, we have also advised Marina Bay Sands, the first integrated resort in Singapore on the Casino Control Act and have dealt regularly with the Casino Regulatory Authority. Our work also includes advice on the Energy Markets Act and dealing with the Energy Markets Authority.

Where our clients have suffered detriment from criminal acts, we also assist our clients to formulate complaints to the relevant authorities, and where necessary and appropriate, we institute private prosecutions and civil claims.

In the unfortunate event that our clients are investigated by the relevant authorities or charged with offences, we will ensure that a team of lawyers, who have extensive experience in dealing with authorities are immediately assigned to the case to ensure that prompt and proper representation are forthwith given to the clients.

Our clients have included large and established corporations, financial institutions and senior management and staff.

The core team comprises specialists from different practice areas such as the Corporate and Financial Services Practice Group to provide a multi-disciplinary service to our clients.

Transactions

1. Represented established personalities in relation to allegations of a new form of market manipulation under the Securities and Futures Act (then known as the Securities Industry Act).
   
   
2. Represented established personalities in relation to allegations of manipulation in derivative covered warrants of an index, which was the first prosecution of its kind under the Securities and Futures Act.
   
   
3. Represented clients in their defence against the prosecution in relation to the dissemination of false or misleading statement in an internet forum regarding a stock under under the Securities and Futures Act (then known as the Securities Industry Act).
   
   
4. Represented clients in a multiple fraud case involving a listed company (Citiraya Industries Ltd) for creating a false picture of the Listco’s financial position.