Francis Mok

Partner
Francis is Co-Head of the Financial Services Department at Allen & Gledhill, and Co-Head of the Firm’s Financial Regulatory and Compliance Practice. He specialises in regulatory issues, in particular, financial services and commodities regulations.
He regularly advises banks, securities, futures and derivatives dealers, exchanges and clearing houses, insurers, fund managers, fintech firms and payment services providers. His expertise also includes the structuring and documentation of derivatives transactions.
Francis is recognised as a Star Individual in both Chambers Global and Chambers Asia-Pacific for Banking & Finance: Regulatory. Chambers Asia-Pacific quotes an interviewee as saying: “He has the greatest reputation as a lawyer that I have ever seen; if you need advice, you start with Francis and then, if you have to, you look at other options.” Another client insists: “He is the first reliable port of call whether it's new or existing regulations. He is in a tier of his own, first among his peers, and his knowledge is always helpful.”
Francis is also ranked Band 1 in Chambers Asia-Pacific for Capital Markets: Securitisation & Derivatives and is lauded by a client as “the leading authority on Singapore regulatory matters and derivatives”. He is listed as a Leading Individual in The Legal 500 Asia Pacific for Financial Services Regulatory and for Capital Markets: Structured Finance, Derivatives and Securitisation. He is listed as a Global Elite Thought Leader for Banking - Regulatory by Who’s Who Legal.
Francis graduated from the National University of Singapore with an LL.B. (Hons) degree (First Class) in 1996. He was called to the Singapore Bar in 1997 and joined Allen & Gledhill in 1998.
Publications
- Steering Committee announces successful completion of transition from SOR and SIBOR to SORA
- The Legal Industry Reviews: Singapore (Edition 2, December 2024)
- Trade Finance Registry and SGTraDex launch Bill of Lading Genuineness Check to further strengthen trade finance risk mitigation
- MAS publishes guidance on incorporating Basic Financial Planning Guide into financial advisory processes
- Singapore updates Green Bond Framework and reports on green budgeting progress
- The Legal Industry Reviews: Singapore (Edition 2, December 2024) - Banking & Finance
- MAS and ABS to establish new payments entity to consolidate administration and governance of Singapore’s national payment systems
- Provisions of Financial Institutions (Miscellaneous Amendments) Act 2024 enhancing and rationalising MAS’ powers in relation to financial institutions in force
- Protection from Scams Bill passed to empower Police to issue restriction orders to banks to restrict banking transactions of scam targets
- Financial Regulatory Review: Key developments in Singapore - H2 2024
- MAS to proceed with proposed amendments to Financial Services and Markets (Resolution of Financial Institutions) Regulations 2024
- MAS responds to feedback on proposals to provide clarity on computation of deposit insurance compensation and improve efficiency of deposit insurance operations
- MAS publishes information paper on AI model risk management
- MAS publishes Information Paper on Good Disclosure Practices for Retail ESG Funds
- MAS consults on roadmap to sunset corporate cheques and transition plan for retail cheques
- Protection from Scams Bill introduced to empower Police to issue restriction orders to banks to restrict banking transactions of individuals
- Anti-Money Laundering and Other Matters Act 2024 enhancing AML/CFT regime partially in force
- SGX revises limit on clearing members’ liability for multiple defaults
- MAS issues consultation paper on capital treatment for structured products and infrastructure investments for insurers
- MAS issues Circular on Audit of AML/CFT Policies, Procedures and Controls
- 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
- MAS issues response to feedback received on proposed framework for single family offices
- Singapore publishes National Anti-Money Laundering Strategy
- MAS consults on proposed amendments to Financial Services and Markets (Resolution of Financial Institutions) Regulations 2024
- MAS consults on new guidelines to MAS Notice 134 on Recovery and Resolution Planning
- MAS establishes international advisory panel for cyber and technology resilience
- MAS issues revised guidelines on provision of consumer protection safeguards by digital payment token service providers
- MAS consults on proposed regulatory approach, regulations, notices, and guidelines for digital token service providers issued under Financial Services and Markets Act 2022
- Inter-Ministerial Committee publishes recommendations to strengthen Singapore’s anti-money laundering framework
- Financial Institutions (Miscellaneous Amendments) Act 2024 to harmonise and enhance MAS’ investigative and supervisory powers partially in force
- MHA consults on proposed Protection from Scams Bill empowering Police to issue restriction orders to banks to restrict banking transactions of scam targets
- Provisions in Financial Services and Markets Act 2022 on prohibition orders in operation
- MAS issues response to feedback on proposed amendments to appeals regulations
- MAS consults on proposed amendments to notices and guidelines to enhance pre- and post-transaction safeguards for retail clients
- MAS issues circular on establishing sources of wealth of customers
- MAS commits up to S$100 million to support quantum and AI capabilities in financial sector
- MAS responds to feedback on proposals to refine tier structure requirements and introduce new remuneration requirements for financial advisory industry
- MAS issues revised Guidelines on Licensing for Payment Service Providers
- Singapore publishes updated ML/TF risk assessments, asset recovery and CFT national strategies
- MAS releases Sustainability Report 2023/2024 setting out strategy on climate resilience and environmental sustainability
- Financial Regulatory Review: Key developments in Singapore - H1 2024
- Changes to OTC derivatives reporting regime under Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013 to adopt CPMI-IOSCO technical guidance to take effect on 21 October 2024
- MAS issues information paper on data governance and management practices for banks and finance companies
- MAS expands application of fair dealing guidelines to all financial institutions and all products and services
- Implementation of Financial Services and Markets Act 2022 in phases with new provisions on technology risk management in force
- Lexology In-Depth: Banking Regulation (15th Ed, 2024) - Singapore
- Financial Services and Markets (Amendment) Act 2023 establishing platform to facilitate sharing customer information among FIs to combat money laundering and terrorism financing in force
- MAS seeks comments on proposed Notice on prevention of money laundering and countering the financing of terrorism for Singapore organised market operators
- MAS publishes revised Framework for Impact and Risk Assessment of Financial Institutions
- SGX Group proposes to refine cap on clearing members’ liability for multiple defaults
- MAS issues response to feedback on proposed amendments to Insurance Act 1966 and regulations on intermediaries
- The International Comparative Legal Guide to Public Investment Funds 2024 (7th Ed) - 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
- MAS issues response to feedback from consultation on repeal of regulatory regime for registered fund management companies
- MAS publishes advisory on addressing cybersecurity risks associated with quantum
- Parliament passes Bill to harmonise and enhance MAS’ investigative and supervisory powers across various Acts
- MAS proposes to simplify requirements and facilitate access to simple and cost-effective insurance products
- MAS launches MAS-Tx for licensed insurers
- MAS launches Singapore Sustainable Finance Association
- MAS issues notices to banks and merchant banks on management of outsourced relevant services
- MAS to require financial institutions to conduct and respond to reference checks
- MAS issues revised Guidelines on Risk Management Practices for Insurance Business
- MAS issues notice on recovery and resolution planning for insurers
- Financial Regulatory Review: Key developments in Singapore - H2 2023
- Bill introduced to enhance investigative, supervisory and other powers of MAS across various Acts
- MAS raises stock cap and flow cap on personal e-wallets
- MAS consults on enhancements to Policy Owners’ Protection Scheme
- MAS consults on proposed amendments to capital framework for approved exchanges and approved clearing houses
- MAS launches world’s first multi-sector transition taxonomy
- MAS consults on regulations relating to information sharing scheme for prescribed financial institutions
- MAS to strengthen regulatory measures for digital payment token services
- MAS revises FAQs on Disclosure of Interests to provide guidance on determining date of acquisition of or change in interests under Part 7 of Securities and Futures Act 2001
- MAS issues preliminary response to feedback on proposed changes to complex products regime, to launch further consultation in H1 2024
- MAS and UNDP launch Universal Trusted Credentials initiative to improve MSMEs’ access to funding
- MAS announced new AI-powered system to support sustainable finance in real estate sector
- MAS announces new AI-powered system to support sustainable finance in real estate sector
- Consultations on proposed shared responsibility framework for FIs, Telcos and consumers for phishing scams and revisions to E-Payments User Protection Guidelines
- MAS consults on streamlined regulatory framework for fund managers
- MAS issues revised MAS Notice 637 on risk based capital adequacy requirements for banks incorporated in Singapore to implement final Basel III reforms
- MAS to increase maximum deposit insurance coverage from S$75,000 to S$100,000 from 1 April 2024
- MAS publishes framework for designating domestic systemically important insurers
- MAS consults on new notice for recovery and resolution planning for insurers and proposed enhancement of resolution powers for insurance sector
- SGX RegCo consults on proposed changes to Futures Trading Rules and other rulebooks
- MAS consults on proposed guidelines for financial institutions on transition planning for a net zero economy
- MAS issues revised notices on competency requirements for representatives under FAA and SFA effective 1 April 2024
- MAS proceeds with exemptions for approved exchanges and recognised market operators that provide certain clearing and settlement services
- MAS responds to feedback from consultation on enhancing pre- and post-transaction safeguards for retail clients
- MAS responds to feedback from consultation on Group Capital Framework for a Designated Financial Holding Company (Licensed Insurer)
- MAS to eliminate corporate cheques by end-2025
- MAS to enable online nomination of insurance beneficiaries
- MAS finalises stablecoin regulatory framework, responds to feedback received on public consultation
- MAS and National Bank of Cambodia set up Financial Transparency Corridor to support SMEs
- Final transition approach for SIBOR loans to SORA announced
- MAS consults on proposed enhancements to deposit insurance scheme in Singapore
- ABS launches Trade Finance Registry to counter trade finance fraud
- MAS and IMDA publish Guidelines on Participation in the Singapore Quick Response Code Scheme and issue response to feedback received from consultation on proposals to strengthen participation in SGQR
- 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
- MAS issues response to feedback received from public consultation on proposed amendments to limits on personal payment accounts that contain e-money
- MAS releases fourth GFIT taxonomy consultation paper: Coal phase-out criteria under Singapore-Asia Taxonomy
- Financial Regulatory Review: Key developments in Singapore - H1 2023
- 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
- MAS issues circular on implementation timeline for the final Basel III reforms in Singapore
- SGX implements refinements to CDP margin and clearing fund frameworks
- MAS to set expectations on credible transition planning by financial institutions
- MAS responds to feedback on proposed changes to OTC derivatives reporting regime under Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013
- MAS launches Finance for Net Zero Action Plan
- MAS consults on amendments to regulations and notices to operationalise Payment Services (Amendment) Act 2021
- Bill passed to establish platform for financial institutions to share information on customers to combat money laundering and terrorism financing
- The Banking Regulation Review (14th Ed, 2023) - Singapore
- MAS proposes enhanced safeguards for prospecting and marketing of financial products
- MAS issues circular to FIs on addressing risks that arise from theft and misuse of individual’s personal information
- SIBOR to SORA transition commences: Consultation on setting of adjustment spreads to convert legacy loans referencing SIBOR to a SORA reference
- Bill introduced to establish platform for financial institutions to share information on customers to combat money laundering and terrorism financing
- Green Finance Industry Taskforce launches third consultation on green and transition taxonomy
- MAS issues circular on implementation of final Basel III reforms in Singapore
- MAS issues revised notices on residential property loans fact sheets
- Financial Regulatory Review: Key developments in Singapore - H2 2022