Litigation Partner, Luo Ling Ling was invited to speak at the legal and accounting connect 2018 held at National Trades Union Congress Auditorium on 29 June 2018.
Ling Ling presented on case studies that were very well received.
RHT represented directors of a listed company, to write Representations in response to a show cause letter from SGX. She commented that the directors were relieved for approaching RHT early, to prevent the matter from escalating any further.
A scam by using fake invoices which provides renovation and interior design services duped a crowdfunding firm into disbursing more than $6.9 million in cash. This case study was used to emphasise the need for a regulatory authority to do risk management on a large scale.
Directors of this company suffered the consequences of regulatory liability because of a director’s non-disclosure of investigations against him. The case involved the trial of three former directors who allegedly made false public announcement which was likely to have the effect of stabilising the market price of Airocean shares and insider trading. Luo Ling Ling ended off the presentation by sharing that, “the one good thing done by these directors was to manage their financial risk, by purchasing director’s insurance, which paid for all legal costs”.
The high-profile event started with a welcome message by Mr Gregory Vijayendran, President of The Law Society of Singapore, followed by a keynote address by Ms Indranee Rajah S.C., Minister in the Prime Minister’s Office and Second Minister for Law, Finance and Education.
The half-day event is jointly organised by the Law Society of Singapore and the Association of Chartered Certified Accounts Singapore, to explore the many opportunities available for lawyers and professional accountants in Singapore. It was an excellent platform for the legal and accounting communities to come together to identify requirements that will help boost productivity to support the ASEAN Future Economy. The event was a success and was well attended by accountants and lawyers coming together to exchange ideas and explore business opportunities in Singapore and the region.