Commencement of Key Changes under the Corporate and Accounting Laws (Amendment) Act 2025

Commencement of Key Changes under the Corporate and Accounting Laws (Amendment) Act 2025

The Corporate and Accounting Laws (Amendment) Act 2025 (No. 24 of 2025) will be implemented in phases, with selected provisions took effect from Wednesday, 6 May 2026. Key amendments include: 1. Heavier penalties for directors Directors who breach their duties may now face higher penalties, with maximum fines increased from S$5,000 to S$20,000. Serious offences […]

Singapore CSP reform 2024: impact on CSPs and businesses

Singapore CSP reform 2024

In a recent conference conducted by the Chartered Secretaries Institute of Singapore on Wednesday, 10 July 2024, crucial updates regarding the implementation of the new Corporate Service Provider (CSP)s bill were discussed and the changes presented by the Accounting and Corporate Regulatory Authority (ACRA). These regulatory changes significantly expand the responsibilities and powers of CSPs, […]