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Full-Text Articles in Securities Law
The Responsibilities Of Lawyers For Their Clients’ Misstatements And Omissions To The Securities Market In Singapore, Wai Yee Wan
The Responsibilities Of Lawyers For Their Clients’ Misstatements And Omissions To The Securities Market In Singapore, Wai Yee Wan
Wai Yee WAN
This article examines the extent to which lawyers advising on the disclosure documents of their clients issued to the securities markets should be responsible for their clients’ disclosure failures. It identifies the following problems with the current framework. First, there is a lack of objective due diligence standards which lawyers are expected to meet when they are advising on public disclosure documents. Second, except for takeovers, lawyers are not subject to public enforcement actions even if they have not acted with due care and diligence in ensuring that their clients comply with their disclosure obligations. Third, private enforcement actions against …
Recent Development On Misleading Disclosure And Non-Disclosure To The Securities Market (And Their Relationships With Insider Trading) In Singapore: Madhavan Peter V Pp And Other Appeals, Wai Yee Wan
Wai Yee WAN
In Madhavan Peter v PP and other appeals,[1] the Singapore court had to consider the scope of the offence of misleading disclosure to the securities market allegedly committed by three directors of Airocean,[2] a company listed on Singapore Exchange (“SGX”), and the scope of the offence of non-disclosure of material information to the securities market allegedly committed by two of the three directors. The case is controversial and significant for a number of reasons.