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Eunice Tan

Principal
Baker & McKenzie Wong & Leow

Biography

Eunice is a principal in the Financial Services Regulatory practice group of Baker McKenzie's Singapore office. She specialises in regulatory, legal and compliance matters in the financial services and fintech sectors. Eunice is recognised in Legal 500 Asia Pacific as the Next Generation Partner for Financial Services Regulatory, where she was "singled out for being smart and having the ability to navigate the Singapore regulatory landscape" and "is responsive, pleasant and willing to explore different parameters."

Eunice is a frequent speaker at legal and financial industry seminars and forums. She also regularly assists clients in coordinating industry responses and participate in consultation with the Monetary Authority of Singapore on policy and legislative changes.

Practice Focus

Eunice regularly advises fund managers, banks, brokers, market operators, fintech companies and other financial institutions on a wide range of legal, regulatory and compliance matters, including: (i) setting up, structuring and securing of licenses and exemptions; (ii) offering of financial services and products; (iii) licensing and regulatory issues for cross border activities; (iv) conduct of business rules; (v) compliance manuals, AML/KYC policies and procedures and outsourcing policies; (vi) impact of regulatory changes on client's operations; (vii) funds registrations and approvals; and (viii) regulatory and internal investigations.

She also assists financial institutions on mergers & acquisitions, joint ventures and restructuring, with a focus on transaction structuring, regulatory issues and approvals.

Representative Legal Matters

  • Advised Euronext FX on the setting up of its foreign exchange trading platform in Singapore, including securing a recognised market operator status from the Monetary Authority of Singapore under the new regulatory regime for over-the-counter derivatives. 

  • Advised Julius Baer Group on its pioneering joint venture with Siam Commercial Bank for the set up and operation of private wealth management businesses in Singapore and Thailand. The transaction involved a highly bespoke collaboration agreement between the parties to fit into the financial regulatory frameworks of both Singapore and Thailand, and the commercial terms of the joint venture.

  • Advised LGT Group Foundation on its acquisition of ABN Amro's private banking business in Asia and Middle East worth USD 20 billion in assets under management. The transaction involved an unprecedented cross jurisdictional banking business transfer from Dubai to Singapore.

  • Assisted several fund managers headquartered in U.S., U.K., Australia, Singapore, Hong Kong and China to secure capital markets services licence for fund management in Singapore, and "paragraph 9" approvals to allow group entities to offer segregated mandates in Singapore.

  • Assisted several securities brokers headquartered in Japan, Hong Kong and China to secure capital markets services licence for dealing in capital markets products and custodial services, exemptions to conduct financial advisory services, and "paragraph 9" and "paragraph 11" approvals to allow group entities to offer brokerage and financial advice in Singapore.

  • Advised several payments service providers on licensing and regulatory requirements under the Payment Services Act, including securing payments institutions licences from the Monetary Authority of Singapore.

  • Advised several multinational banks and fund managers on regulatory and licensing requirements arising from cross-border offering of products and services in the private banking, investment banking, trust and wealth management, commercial banking and fund management sectors, including acting as lead and coordinating counsel for multijurisdictional regulatory surveys and cross border business conduct policies, some of which involved as many as 20 jurisdictions.

  • Advised several fund managers on regulatory and licensing requirements for offering of funds; reviewed fund documents for compliance with Singapore regulatory requirements, reviewed agreements with distributors and placement agents; and assisted with fund registrations.

  • Assisted various banks, wealth managers and other financial institutions with the preparation of their business terms and conditions and customer agreements, compliance manuals, anti-money laundering and know your customer policies and procedures, client onboarding forms, outsourcing policies and service agreements.

  • Advised several global banks, fund managers and other financial institutions on market misconducts, AML irregularities and other employee misconducts, including conducting internal investigations and advising the institutions on the potential liabilities and regulatory reporting obligations.

  • Advised several multinational banks on client's money and asset rules in Singapore and recoverability of client's money and assets from custodians in Singapore in the event of insolvency.

  • Advised a leading digital wealth manager wholly owned by a  large multinational insurance group on the roll out of its robo-advisory services, including identifying additional regulatory and compliance obligations for the new line of business and preparing terms and conditions.

Professional Associations and Memberships

  • Barrister-at-Law (Lincoln’s Inn, England) - Member 
  • Law Society of Singapore - Member 
  • Singapore Academy of Law - Member

Admissions

  • Singapore (2007)
  • England & Wales~United Kingdom (2005)

Education

  • King's College London, UK (2004)

Languages

  • English
  • Mandarin
  • Speaker, "Accredited Investors Opt In / Opt Out Regime : Navigating the Mechanics," seminar organised by the Investment Management Association of Singapore, November 2018

  • Panel speaker, "The Pivotal Role of AI/Machine Learning in Advancing FinTech" at the Bangkok Techsauce Global Summit, July 2017

  • Speaker, "Cross Border Marketing- Investment Management" and "Regulatory Reforms and Developments in the Region," April 2016, seminar organised by the Investment Management Association of Singapore