eOASIS is Rajah & Tann Singapore LLP's legal information website for clients, containing business and legal information prepared from a practitioner's viewpoint. It has four different modules, updated regularly, and materials range from commentaries on the latest legal developments to key legal and business information.

What's new on eOASIS

Apple recently tried to oppose Swatch’s trade mark application for “Tick different”. The opposition was rejected by the Intellectual Property Office of Singapore ("IPOS"). This Client Update considers IPOS’ emphasis on what the average consumer’s views may be, and highlight pertinent issues that arose from this opposition. In particular, this Client Update discusses the way a trade mark should be represented (in capital letters or small letters), and the evidence required to support an assertion that a trade mark is well known in Singapore. 

Welcome to the October edition of Competition Bites, as we round up the competition law developments from around the world over the last quarter. This has been a busy third quarter for the Singapore regulator, who issued its highest fine ever in relation to a domestic cartel and its first infringement decision against an implemented merger. Elsewhere in the world, we see other competition regulators pursuing enforcement action in online markets. This suggests that, as many have opined, existing competition law frameworks are sufficient to tackle competition law issues which are unique to online markets, and that competition law regulators are in fact sophisticated enough to spot such issues. 

Bonds are a common asset class in many investment portfolios. However, investors often do not have direct rights against a bond issuer. If so, can investors vote in debt restructuring proceedings commenced by the bond issuer? If investors can only vote through a trustee, how many votes can the trustee cast, and who pays for the trustees’ costs? These important and novel issues were dealt with by the Singapore High Court in In Re Swiber Holdings Ltd [2018] SGHC 211. Wilson Zhu, Sim Kwan Kiat and Chan Min Hui of Rajah & Tann Singapore LLP successfully represented the Judicial Managers of the bond issuer in this decision. 

From 13 February to 16 March 2018, the Monetary Authority of Singapore (“MAS”) launched a public consultation on the proposed guidelines to protect users of electronic payments (“e-payments”). The proposed guidelines aim to encourage wider adoption of e-payments by setting standards on the responsibilities of financial institutions and e-payment users.

On 28 September 2018, MAS issued its response to feedback received on the consultation, as well as the finalised E-payment User Protection Guidelines (“Guidelines”). The finalised Guidelines incorporate, where appropriate, the feedback received from the consultation exercise. The aim of these Guidelines is to establish a common baseline protection offered by responsible financial institutions (“responsible FIs”) on a business as usual basis to individuals or sole proprietors from losses arising from isolated unauthorised transactions or erroneous transactions from the protected accounts of account holders.

The Guidelines will take effect on 31 January 2019. 

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