TIAN Sion Yoong is a Partner in the Financial Services Regulatory, the Derivatives & Structured Products and the FinTech Practices.

His main practice areas are financial services regulatory, FinTech, derivatives (both transactional and regulatory), structured products and structured finance.

In the regulatory space, he has advised financial institutions on the new regulatory landscape in Singapore, including derivatives trade reporting and margin requirements, and licensing and regulatory requirements applicable to financial market infrastructures, banks, dealers, financial advisers and other financial intermediaries. He has also advised a number of FinTech providers (including crowdfunding platforms, robo-advisers, payment service providers and blockchain platforms) and ICO issuers on various licensing, regulatory and transactional matters.

In the derivatives transactional space, he has assisted numerous clients (general corporates and regulated entities such as banks, insurance companies and REITs) with the preparation, review and/or negotiation of their derivatives documentation, including the International Swaps and Derivatives Association master agreements, confirmations and credit support and collateral management documentation.

Sion Yoong also has experience with bond issuances, structured note programmes, securitisations and other forms of structured finance. He also has prior experience as in-house counsel in a major investment bank supporting its FX, rates and credit trading businesses in both transactional and regulatory matters.

Sion Yoong graduated from the National University of Singapore and is admitted to the Singapore Bar.

Significant transactions that Sion Yoong has been involved in include advising / acting for the following:

  • EFG Bank on the unique regulatory issues which arose from the statutory transfer of business being effected from BSI Bank, whose regulatory status as an approved merchant bank in Singapore was being withdrawn by the Monetary Authority of Singapore ("MAS"). The statutory transfer of business took place as a parallel process to the global acquisition of BSI and its subsidiaries by EFG International. This was the first time in over 30 years that MAS had ordered a merchant bank to be shut down.
  • IBM in relation to its roll-out of the IBM Blockchain World Wire, a real-time global payments network facilitated through the use of blockchain digital assets.
  • Centrality, a New Zealand-based operator of a blockchain ecosystem platform for decentralised applications, in relation to its token generation event ("TGE") through a Singapore-incorporated company as the issuer of CENNZ tokens. The TGE raised $100 million in 6 minutes through the issuance of CENNZ tokens.
  • Binance Asia, in relation to its establishment and operation of a new fiat to cryptocurrency exchange in Singapore. Binance Asia is a related corporation of Binance, which is the operator of one of the largest cryptocurrency exchanges in the world. Vertex Ventures, the venture capital arm of Temasek Holdings, is an investor of Binance Asia.
  • Xfers, a Singapore-based payment services provider, in relation to its roll-out and operation of the Xfers Wallet as a widely accepted stored value facility ("WASVF") approved by MAS. Xfers is the newest member of a small handful of WASVFs in Singapore.
  • A major European bank on legal and regulatory issues pertaining to the issuance of equity-linked retail structured notes in Singapore.

Related Practices

  • Derivatives & Structured Products
  • Financial Services Regulatory
  • FinTech
  • Butterworths Journal of International Banking & Financial Law – Inside and outside Singapore’s proposed FinTech regulatory sandbox: balancing supervision and innovation 2016
  • IFLR1000 – Developments in the regulation of digital advisory services 2017
  • SID Directors Bulletin – Understanding Initial Coin Offerings 2019
  • SAL Practitioner – A Guide to Digital Token Offerings: Monetary Authority of Singapore’s Roadmap for Regulation of Blockchain-based Digital Tokens 2019

Sion Yoong is a recommended lawyer in The Legal 500: Asia Pacific – The Client's Guide to the Asia Pacific Legal Profession for the area of Financial Services Regulatory.