Ying Yi Liew

Ying Yi advises the wide gamut of financial institutions (including banks, fund managers, brokers, financial advisers, insurers, market operators, commodity traders) and fintech companies, such as e-commerce platforms, robo-advisers, crowdfunding platforms, blockchain companies and payment solutions providers on evolving financial regulations.

She regularly advises clients with their regulatory and compliance matters across the board from the setting up of operations in Singapore, structuring their operations around licensing requirements, applying for and securing licenses, approvals, notifications and/or exemptions with the Monetary Authority of Singapore (MAS) to assisting them with putting in place their compliance framework (including on AML, technology risk management and business continuity), customer facing documentation and contractual agreements with third parties, as well as advising on ongoing conduct of business requirements and regulatory issues relating to misconduct and investigations.

• Advised DBS Bank, UBS AG and SBI Digital Asset Holdings Co., Ltd on the world’s first cross-border repo and natively-issued digital bond fully executed and settled on a public blockchain that was part of the MAS’ Project Guardian. DBS, UBS and SBI successfully executed the live pilot for the issuance, repurchase and redemption of digitally native Swiss-law securities using stablecoins issued under Japanese regulations and tokenized certificates of deposits under Swiss law. The transactions were recorded on a public blockchain and featured atomic (instantaneous) settlements.
• Advised UBS AG on its first tokenised debt transaction for Asia Pacific investors where USD50M in digital fixed rate security tokens using DLT across to high net worth investors in Singapore and Hong Kong from its London branch. This landmark transitional digital securities issuance involved navigating complex legal and regulatory issues under English, Swiss, Singapore and HK law.
• Advised and successfully represented Capbridge, an SGX-based primary capital raising platform for private companies based on blockchain technology and its sister company 1exchange (1X), Singapore’s first regulated private securities exchange which allows for trading of security tokens, including representing both entities applying to expand their licence to include custodial services, updating their rulebook and customer facing documentation and ongoing compliance matters.
• Advised Shareable Assets Pte. Ltd., a Singapore-based fintech company with experience from the Blue Whale Global group, on obtaining its capital markets services (CMS) license from the MAS, which allowed it to launch one of the first platforms to offer fractional ownership in real estate investments, by issuing asset-backed security tokens utilizing blockchain technology.
• Advised and successfully represented a blockchain-based asset fractionalization platform allowing investors to own fractionalized real estimate in obtaining a capital markets services licence from the MAS and assisting it in developing contractual documentation for deals on its platform.
• Advised Asia Wealth Platform (operating under the name "StashAway"), one of the first robo-advisers to obtain a license from the MAS. StashAway is digital wealth management platform providing personalized and automated portfolio management services to both retail and accredited investors.
• Advised various leading international payment companies on obtaining their institution (MPI) license under the Payment Services Act (PSA), on the roll out of various products in Singapore and their ongoing conduct of business requirements and compliance procedures.
• Advised various multinational banks, payment and Fintech companies (including BNPL providers) on cross-border regulatory surveys and to develop cross-border documentation, including acting as primary and coordinating counsel to instruct local counsel and coordinate advice across up to 17 jurisdictions to ensure that the client has a holistic solution responsive to their business in each of the various jurisdictions.
• Advised Goldbell Evolution Network (GEN) Pte Ltd, a member of the Goldbell Group, on obtaining its CMS license from the MAS, which allowed them to launch their private debt investment platform, GEN, an innovative platform which will provide for both investors and companies to seek alternative investment and obtain debt financing, respectively, and continues to advise on its compliance matters.
• Advised and assisted several multinational banks and financial institutions on their internal investigations into potential misconduct of their traders, including AML offences, insider trading and other market misconduct offenses.

• Member, Singapore Academy of Law
• Member, Law Society of Singapore