From August 29 to September 12, 2024, the Huangpu District Judicial Bureau and Lawyers’ Working Committee jointly organized the Singapore International Legal Services Practice Workshop. Our firm’s partner, Lawyer Ivy Yang, was honored to represent the firm and participate the workshop in Singapore. Through two weeks of study and on-site visits, she gained a comprehensive understanding of Singapore's legal system, financial regulation, and tax environment. Based on her communication with local tax authorities and intermediary organizations, as well as her experience handling cross-border tax cases between China and Singapore in recent years, the author now offers an initial sharing on Singapore's tax policies and the tax-related issues encountered in cross-border economic activities.

Fund managers face the risk of being penalized or having their private fund registrations suspended by regulatory authorities if they fail to fulfill their disclosure and reporting obligations in a timely manner. Additionally, there is the risk of being held liable for compensating investors for losses arising from breaches of information disclosure. In light of the increasing disputes regarding information disclosure, the China Securities Regulatory Commission (CSRC) issued a public notice on July 5, 2024, soliciting opinions on the "Regulations on Information Disclosure and Reporting for Private Investment Funds (Consultation Draft)". The contents are summarized as follows:

In recent years, the China Securities Regulatory Commission (CSRC) has been intensifying its crackdown on securities professionals engaging in illegal stock trading. Between 2019 and 2023, the CSRC investigated 67 cases involving securities professionals’ illegal stock trading, resulting in administrative penalties for 139 individuals. On February 9, 2024, the CSRC published an administrative penalty decision on its official website, penalizing 63 securities professionals from China Merchants Securities for illegal stock trading, with one individual facing a lifetime ban from the securities market. The total amount of fines and confiscations imposed on these 63 individuals reached 81.73 million YUAN. The handling of this case has sparked widespread discussion within the securities industry and fueled public discourse on the need for stricter regulatory oversight in the sector.