The entire legal industry in Singapore is being placed under the supervision of a single organisation.

All law firms in Singapore – including those in the private client space – will now be supervised by a single body in the Asian jurisdiction. 

The organisation is called the Legal Services Regulatory Authority, launched earlier this week by the city-state’s Ministry of Law to licence and regulate foreign and local law firms.

The LSRA licenses or registers all law practice entities; sets and reviews the business criteria and licence conditions relevant to different law practice structures; oversees how firms comply with rules; approves arrangements of Singapore law firms involving foreign ownership, profit-sharing or other moves, and registers foreign-qualified lawyers and regulated non-practitioners.