Anil Shergill
Financial Regulation Group Managing Associate, Singapore
“I have deep technical and commercial expertise in advising financial institutions and fintech firms on the full range of financial services regulatory matters.”
Overview
Professional experience
Education and qualifications
Published works
Overview
Anil is a Singapore-qualified lawyer with experience in advising on a broad range of financial services regulations. He has advised a variety of local and global financial institutions, including major banks, exchanges, trading and settlement systems, financial intermediaries, insurers, financial advisers, investment managers, payment companies, payment system operators, fintech companies and technology companies.
His experience includes advising on licensing regimes, securities/cryptocurrency offering regimes and conduct of business obligations, as well as reviewing terms and conditions for various types of financial institutions, reviewing and preparing outsourcing agreements, distribution agreements, investment management agreements, sale and purchase/business transfer agreements and other types of agreements, acquisitions and restructurings involving financial institutions, and rolling out of various types of financial services products. He has also been involved in industry consultations on (among other pieces of legislation) the Securities and Futures Act, the Payment Services Act and the Financial Advisers Act.
Anil is recognised as a Rising Star by Legal 500.
His experience includes advising on licensing regimes, securities/cryptocurrency offering regimes and conduct of business obligations, as well as reviewing terms and conditions for various types of financial institutions, reviewing and preparing outsourcing agreements, distribution agreements, investment management agreements, sale and purchase/business transfer agreements and other types of agreements, acquisitions and restructurings involving financial institutions, and rolling out of various types of financial services products. He has also been involved in industry consultations on (among other pieces of legislation) the Securities and Futures Act, the Payment Services Act and the Financial Advisers Act.
Anil is recognised as a Rising Star by Legal 500.
Work highlights
Alex has advised on significant transactions including:
- advising BondEvalue, the world’s first blockchain-based fractional bond trading platform on various aspects of business rollout and expansion in Singapore.
- advising a global technology company on the acquisition of an applicant of a payment services licence in Singapore.
- setting up an ESG-focused token exchange.
- acting in a global public takeover impacting a Singapore merchant bank.
- advising a global crypto company on structures for issuing an MAS-regulated stablecoin.
- advising a global crypto company on its acquisition of a regional derivatives trading company.
- advising one of the world’s largest fund managers on launching a new fund in Asia.
- acting for a global insurance company in its divestment of its life insurance business in Singapore.
- advising on setting up a tokenised art fund.
- advising a global technology company on setting up various payment entities in Singapore, structuring payment and FX flows, and advising on several other issues.
Professional experience
- Spent five years in the Financial Regulatory practice group at Allen & Gledhill from Dec 2015 to Dec 2020 (was a Senior Associate at time of leaving).
- Frequently provides training sessions and hot topic seminars to key clients including global technology companies, global fund managers, banks, securities and derivatives trading houses and other financial services companies.
Other work highlights
These include:
- a global trading and settlement system on becoming an effective controller of a Registered Market Operator (RMO) in Singapore as part of a joint venture arrangement.
- Hydra X, a Singapore-headquartered fintech company, on its Capital Markets Services (CMS) licence application and successfully obtaining final approval from the Monetary Authority of Singapore (MAS) for its CMS licence, paving the way for HydraX to continue its foray into capital markets as one of the first movers in this space.
- SGX Marketnode, the SGX’s digital division, on a number of initiatives and projects relating to the digitization of the primary issuance process and the tokenization of capital markets products.
- digital securities exchanges on the requirements applicable to being an RMO in Singapore, assisting such players to apply to the MAS to be a RMO under the Securities and Futures Act and advising on structuring operations to fall within particular regulatory frameworks.
- digital exchanges on the characterisation and structuring of digital tokens to be listed and traded on the organised market operated by the digital exchanges.
- Formula 1, the sporting team and crypto company, on the scope of permissible crypto brand advertisements during the Singapore Formula 1 race.
- e-commerce platforms, airline company and postal services company on assisting to structure their business models to fit within applicable licensing regimes under the Payment Services Act, and successfully applying for appropriate licences.
- a large robo-advisory platform with reviewing and drafting terms and conditions of a robo-advisor with its clients for the rollout of new regulated businesses.
- various cryptocurrency players on the regulatory implications of various dealing and trading set-ups, including on the requirements applicable to various types of cryptocurrencies e.g. security tokens, digital payment tokens, stablecoins, cryptocurrency derivatives, NFTs etc.
- major international organisations, tech companies and payment intermediaries on its various payment processing arrangements, payments-related matters and rollout of payment businesses, including the implication of such businesses under the Payment Services Act and the feasibility of compliance with ongoing conduct of business obligations.
Education and qualifications
Anil holds an LL.B. from the National University of Singapore.
Published works
- Co-author, Singapore Chapter, The Virtual Currency Regulation Review – Edition 1, The Law Reviews
- Co-author, “FinTech in Singapore”, Business Law International (Vol 20 No 1)