Alexander Yap
Partner
Alexander is the Co-Head of the Firm’s FinTech Practice and a Partner in the Technology & Corporate Intellectual Property Practice. He advises on three key pillars:
- the acquisition, divestiture, provision, sharing, and receipt, of data, technology and intellectual property-related services and assets, including cryptographic tokens and digital assets;
- data breach and cybersecurity strategy, communications, management and compliance; and
- emerging and frontier technologies, such as autonomous driving, metaverses, large language models, transformer neural networks, and generative AI.
He advises on licensing, research & development, sponsorships, collaborations, franchising, online gaming, ‘as-a-service’ platforms (IaaS, PaaS, etc.), and on consumer-facing agreements and activities, such as lotteries and other promotions in compliance with gaming/gambling legislation.
Alexander is recommended by Who’s Who Legal: Data 2023 and Who’s Who Legal: Fintech 2023, where a client commented “I am impressed by the no-nonsense, 'to-the-point' manner in which he addresses complex queries”. He is also recognised as a ‘Notable Practitioner’ in IFLR1000, and a ‘Next Generation Partner’ in The Legal 500.
Alexander contributed to the Personal Data Protection Commission’s PDP Digest, the Singapore chapter of Proskauer on Privacy published by the Practising Law Institute, and is co-author of the Singapore chapter of the International Encyclopedia of Agency Distribution Agreements published by Kluwer Law International.
Work Highlights
- Advised one of a consortium of financial institutions on the setting up of Climate Impact X, a marketplace and exchange for carbon credits.
- Advised the Government Technology Agency on Singpass.
- Acted for various funds of Sequoia Capital India and SEA in relation to the purchase of various types of cryptographic tokens.
- Acts for Web3 companies, including on gaming and promotional activities and adjustment of product parameters in view of the Gambling Control Act 2022.
Publications
- MAS consults on roadmap to sunset corporate cheques and transition plan for retail cheques
- MAS announces plans to support commercialisation of asset tokenisation
- Global Finance & Technology Network established to further strengthen Singapore as global FinTech hub
- New Singapore-UK Agreement to strengthen global AI safety and governance
- Shift Happens: How Generative AI is Changing the Way We Make Content
- Shared Responsibility Framework for FIs, Telcos, and consumers for phishing scams and revisions to E-Payments User Protection Guidelines to come into effect on 16 December 2024
- CSA launches guidelines and companion guide on securing AI systems
- CSA publishes Safe App Standard Version 2.0 to strengthen overall security posture of mobile apps in Singapore and better safeguard app transactions and user data
- CSA announces updated Operational Technology Cybersecurity Masterplan 2024
- MAS publishes information paper on cyber risks associated with generative AI
- CSA seeks comments on draft guidelines and companion guide on securing AI systems
- MAS commits up to S$100 million to support quantum and AI capabilities in financial sector
- Practical Law: Confidentiality Considerations - Singapore
- MAS issues revised Guidelines on Licensing for Payment Service Providers
- MAS expands industry collaboration to scale asset tokenisation for financial services, publishes whitepaper on Global Layer One initiative
- Strengthening AI governance in Singapore: (1) Safety guidelines for Generative AI model developers and application deployers, (2) expanded PET sandbox, and (3) ASEAN guide on data anonymisation
- Singapore and China advance cooperation in trusted commercial data flows and AI governance
- Public consultation on remote witnessing and e signing of statutory declarations
- Framework in Online Criminal Harms Act 2023 for codes of practice and directives to counter scams and malicious cyber activities in force
- Singapore launches generative AI testing toolkit Project Moonshot to address LLM safety and security challenges
- Singapore launches Digital Enterprise Blueprint
- Lexology In-Depth: Fintech Law (7th Ed, 2024) - Singapore
- MAS expands scope of regulated payment services, amends ongoing compliance requirements, and introduces user protection requirements for DPT service providers under Payment Services Act 2019
- Bits & Bytes: Key FinTech trends in 2023
- Singapore studying introduction of Digital Infrastructure Act
- MCI announces AI initiatives in alignment with National AI Strategy, including PDPC Advisory Guidelines on the Use of Personal Data in AI Recommendation and Decision Systems
- Three key FinTech trends in 2023
- New initiatives to advance Singapore’s National AI Strategy 2.0 including AI Trailblazers 2.0 and Google for Startups Accelerator: AI First Singapore
- IMDA and GovTech announce digital sustainability initiatives to green the information and communications technology sector
- Online Criminal Harms Act 2023 enabling authorities to deal more effectively with criminal online activities partially in force on 1 February 2024
- Co-convenors of the WTO Joint Statement Initiative on E-Commerce announce substantial conclusion of negotiations on global digital trade rules
- CSA issues Safe App Standard to provide guidance on enhancing security of mobile applications
- MCI leads S$20 million research programme to tackle new forms of online harms
- Singapore announces proposed Model AI Governance Framework for Generative AI
- Telcos allow mobile subscribers to block calls from international numbers from 5 January 2024
- Practical Law: Employee Privacy and Workplace Monitoring - Singapore
- Singapore pioneers flagship AI initiative to develop South-east Asia’s first large language model ecosystem
- IMDA and AI Verify Foundation announce first of its kind Generative AI Evaluation Sandbox for Trusted AI
- Bits & Bytes: Singapore courts’ crypto-friendly approach shown in new ruling that cryptocurrency can be property
- MAS to strengthen regulatory measures for digital payment token services
- MAS partners financial industry to expand asset tokenisation initiatives, publishes whitepaper on interlinking networks
- MAS partners industry to develop generative AI risk framework for financial sector
- Cyber Security Agency launches cloud security companion guides for organisations
- Consultations on proposed shared responsibility framework for FIs, Telcos and consumers for phishing scams and revisions to E-Payments User Protection Guidelines
- Singapore courts’ crypto-friendly approach shown in new ruling that cryptocurrency can be property
- PDPC consults on proposed Advisory Guidelines on (1) Use of personal data in AI recommendation and decision systems and (2) PDPA for children’s personal data
- UK and Singapore enhance cooperation in sustainable finance and FinTech
- MAS to eliminate corporate cheques by end-2025
- Online Safety Code issued by IMDA takes effect to enhance online safety and curb spread of harmful content
- MAS finalises stablecoin regulatory framework, responds to feedback received on public consultation
- Bills to facilitate electronic statutory declarations, oaths and affirmations, and notarisations passed
- MAS-led industry consortium releases Veritas Toolkit version 2.0
- MAS publishes whitepaper proposing common protocol for use of digital money
- MAS proposes framework for digital asset networks
- Online Criminal Harms Bill passed to enable authorities to deal more effectively with criminal online activities
- MAS publishes investor protection measures for DPT services, issues consultation papers on (1) amendments to Payment Services Regulations, and (2) measures on market integrity in DPT services
- Launch of Singapore’s Digital Connectivity Blueprint: Architecting Singapore’s digital future
- Online Criminal Harms Bill introduced to enable authorities to deal more effectively with criminal online activities
- MAS consults on amendments to regulations and notices to operationalise Payment Services (Amendment) Act 2021
- Practical Law: Confidentiality Considerations - Singapore
- The International Comparative Legal Guide to Digital Health 2023 (4th Ed) - Singapore
- Digital Enterprise Blueprint and Digital Connectivity Blueprint to be launched this year
- New Online Criminal Harms Act and Code of Practice for App Stores among measures announced to tackle online crimes and strengthen online safety
- IMDA implements mandatory registration with Singapore SMS Sender ID Registry from 31 January 2023
- Three key FinTech trends in 2022
- Legislation to tackle harmful content on online services accessible to users in Singapore in force
- Korea-Singapore Digital Partnership Agreement enters into force
- Singapore’s Counter Ransomware Task Force Report provides blueprint to counter ransomware effectively
- CSA launches Internet Hygiene Portal, including Internet Hygiene Rating table
- Bill passed to tackle harmful content on online services accessible to users in Singapore
- Increased maximum financial penalties under Personal Data Protection Act 2012 from 1 October 2022
- MAS consults on measures to reduce risks to consumers from cryptocurrency trading and enhance standards of stablecoin-related activities
- New code of conduct for Buy Now, Pay Later service providers sets out best practices to protect consumers
- IMDA to implement full SMS Sender ID registration from 31 January 2023 and anti-scam filtering solutions from 31 October 2022
- IMDA and MAS seek feedback on proposals to strengthen participation in SGQR
- CSA issues Singapore Cyber Landscape 2021 highlighting key malicious cyber activities in 2021, anticipated cybersecurity trends and initiatives to combat cyberthreats
- MAS and Google Cloud launch Point Carbon Zero Programme to catalyse climate FinTech solutions
- IMDA proposes full SMS Sender ID registration and anti-scam filtering solutions to enhance protection against scams
- PDPC issues guide on personal data protection considerations for blockchain design and infographic on good practices to secure personal data in the cloud platform
- MAS announces AI utility NovA! to unlock opportunities for green financing and combat greenwashing
- IMDA and PDPC launch Singapore’s first Privacy Enhancing Technologies (PET) Sandbox to support businesses in piloting PET projects
- MAS to partner industry to pilot use cases in digital assets in Project Guardian
- PDPC issues Guide on Responsible Use of Biometric Data in Security Applications
- Singapore and UK Digital Economy Agreement enters into force
- Inter-Ministry Committee on Scams introduces E-commerce Marketplace Transaction Safety Ratings and Revised Technical Reference 76 on E-Commerce Transactions
- Singapore launches AI Verify to promote transparency and invites organisations to pilot
- Cyber Security Agency of Singapore issues Guidelines for CII Owners to Enhance Cyber Security for 5G Use Cases
- The Financial Technology Law Review (5th Ed, 2022)
- MAS participates in experimental multi-CBDC platform for international settlements developed by BIS Innovation Hub and other central banks
- Licensing framework for cybersecurity service providers under the Cybersecurity Act 2018 effective from 11 April 2022
- Singapore and UK conclude Digital Economy Agreement
- Personal Data Protection Digest: The Data Breach Notification Obligation and Case Studies for Financial Institutions and Employers
- The International Comparative Legal Guide to Digital Health 2022 (3rd Ed)
- Financial penalty cap for data breaches by organisations under Personal Data Protection Act 2012 to increase from 1 October 2022
- Update on FinTech trends in 2021
- MAS-led industry consortium publishes assessment methodologies for responsible use of AI by financial institutions
- MAS issues guidelines on the provision of digital payment token services to general public
- FinTech developments and initiatives announced at Singapore FinTech Festival 2021
- Regulations and advisory guidelines under Personal Data Protection Act 2012 amended to provide for how business contact information of data protection officers may be set out
- Singapore Cybersecurity Strategy 2021 launched
- CSA consults on licensing framework for cybersecurity service providers under Cybersecurity Act: Proposed licence conditions and regulations
- Singapore launches SGTraDex to digitalise supply chain ecosystem
- Protection from Harassment Court operational from 1 June 2021
- The Financial Technology Law Review (4th Ed, 2021)
- Escrow for Crypto-Assets: Bridging the Trust Gap
- MAS issues infographic on Strengthening AML/CFT Controls of Digital Payment Token Service Providers
- IMDA conducts second consultation on draft Code of Practice for Competition in the Provision of Telecommunication and Media Services
- Practical Law Cross-border Commercial Transactions: Confidentiality Q&A - Singapore
- Electronic Transactions Act amended on 19 March 2021 to include electronic transferable records
- Practical Law Cross-border Commercial Transactions - Sponsorship Q&A: Singapore
- Singapore-led initiatives on data management framework, model contractual clauses for cross border data flows and information exchange mechanism approved at first ASEAN Digital Ministers’ Meeting
- Three key FinTech trends in 2020
- Practical Law FinTech Global Guide: FinTech in Singapore - Overview
- Electronic Transactions (Amendment) Bill passed to provide for electronic transferable records and electronisation of negotiable instruments, documents of title and bills of lading
- Personal Data Protection Digest: Civil Proceedings Under the Personal Data Protection Act 2012
- Electronic Transactions (Amendment) Bill tabled for first reading: New provisions on electronic transferable records and electronisation of negotiable instruments, documents of title and bills of lading
- Payment Services (Amendment) Bill passed in Parliament to mitigate money laundering and terrorist financing risks and to impose measures on digital payment token service providers
- Non-bank financial institutions to have access to FAST and PayNow
- MAS launches Singapore Financial Data Exchange to enable more effective financial planning by Singaporeans
- Personal Data Protection (Amendment) Act 2020 gazetted, PDPC issues draft advisory guidelines to clarify key amendments
- Bill introduced to amend Payment Services Act 2019 to address money laundering and terrorist financing risks posed by virtual asset service providers
- Expected date of commencement of Personal Data Protection (Amendment) Bill, and preparatory steps for organisations
- Personal Data Protection (Amendment) Bill passed to introduce mandatory data breach notification, data portability requirement and increased financial penalty cap
- Covid-19和电子签名在新加坡的应用
- Covid-19: Digital signatures explained - Know before you sign
- Enterprise Singapore and the Singapore Standards Council launch new national e-commerce standard to build trust and transparency in online transactions
- Singapore recognises APEC CBPR and PRP System certifications for overseas transfers of personal data from 1 June 2020
- The Financial Technology Law Review (3rd Ed, 2020)
- PDPC issues advisories on collection of personal data for Covid-19 contact tracing and use of SafeEntry
- Covid-19: New S$6 million MAS-SFA-AMTD FinTech Solidarity Grant launched in support of Singapore FinTech firms
- Protection from Harassment Act amended to tackle spread of online falsehoods affecting individuals and entities
- Practical Law FinTech Global Guide: FinTech in Singapore
- MCI and PDPC propose amendments to Personal Data Protection Act 2012 to introduce mandatory breach notification, data portability and increased financial penalties
- MinLaw consults on proposed prescribed eligible financial contracts to be exempted from restriction on operation of ipso facto clauses under the Insolvency, Restructuring and Dissolution Act
- Covid-19 circuit breaker: Safe distancing, safe technology?
- Covid-19 and the use of electronic signatures in Singapore
- IMDA issues press release on new initiatives on AI governance, including second edition of the Model AI Governance Framework
- PDPC issues response to public consultation on data portability and data innovation provisions
- MAS consults on proposed amendments to Payment Services Act 2019 and scope of e-money and digital payment tokens
- Changes to Protection from Harassment Act partially in force from 1 January 2020: New offence of doxxing introduced
- Practical Law Cross-border Commercial Transactions: Confidentiality Q&A 2019
- Payment Services Act 2019 providing new framework for payment systems and payment service providers in force on 28 January 2020
- FinTech initiatives announced at 2019 Singapore FinTech Festival and Singapore Week of Innovation and TeCHnology
- Protection from Online Falsehoods and Manipulation Act 2019 effective from 2 October 2019
- The Virtual Currency Regulation Review (2nd Ed, 2019)
- MAS accepting applications for Singapore’s first digital bank licences open to non-bank players
- MAS launches Sandbox Express for faster market testing of innovative financial services and products
- PDPC publishes new Data Protection Officer Competency Framework and Training Roadmap
- PDPC publishes new “Guide to Accountability under the Personal Data Protection Act”: Demonstrating accountability for personal data
- IMDA and PDPC launch Trusted Data Sharing Framework for trusted data sharing between organisations
- MAS extends digital bank licences to non-bank players
- IMDA seeks feedback on review of Electronic Transactions Act
- MAS seeks feedback on notices and guidelines to be issued under Payment Services Act 2019
- PDPC consults on proposed introduction of data portability and data innovation provisions
- PDPC updates Guide to Managing Data Breaches 2.0 and issues new Guide on Active Enforcement
- Protection from Online Falsehoods and Manipulation Bill passed in Singapore Parliament
- MAS seeks comments on AML/CFT notices for payment services providers
- The Financial Technology Law Review (2nd Ed, 2019): Singapore chapter
- IMDA consults on policy and regulatory framework for 5G rollout in Singapore
- MAS updates Guide to Digital Token Offerings
- Protection from Online Falsehoods and Manipulation Bill introduced in Singapore Parliament
- IMDA consultation on proposed converged competition code for telecommunication and media markets: Deadline for feedback extended from 17 April 2019 to 15 May 2019
- Singapore intends to introduce data portability requirement, discussion paper published
- IPOS extends FinTech Fast Track initiative by one year to 25 April 2020
- IMDA consults on proposed converged competition code for telecommunication and media markets
- Singapore releases Asia’s first Model AI Governance Framework for public consultation, pilot adoption and feedback
- IMDA consults on Internet of Things (IoT) Cybersecurity Guide
- Stricter rules on collection, use or disclosure of NRIC numbers from 1 September 2019
- New multi-year roadmap for telecom industry to secure Singapore’s connectivity infrastructure
- Payment Services Bill passed to introduce new licensing regime and unify regulatory framework
- Practical Law FinTech Global Guide: Singapore Q&A
- Practical Law Cross-border Commercial Transactions - Sponsorship: Singapore Q&A