Lawyers urged not to enter into business deals with clients, given potential conflict of interest

SINGAPORE - The Court of Three Judges, the highest disciplinary body in the legal profession, on Friday urged lawyers to steer clear of entering into business transactions with their clients as this will often lead to a conflict of interest.

The client eventually put $150,000 into this"guaranteed returns" investment scheme and another $100,000 into a"non-guaranteed" scheme. The court said Mr Tan's conduct was particularly"disgraceful and appalling" because he had used his professional status to give the client false assurance that the client's interests will be safeguarded.

Mr Kuek filed a complaint to the Law Society after he asked Keystone for an update on the money and was told by the law firm that it had not received any funds from him or done any legal work for him.This contention was rejected by a disciplinary tribunal, which referred him to the court to mete out punishment.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore Business Federation urges companies to consider retrenchment only as a last resortTHE Singapore Business Federation (SBF) has urged employers to protect the Singaporean core and retain talent to grow business opportunities, while leaving retrenchment as a last resort to manage manpower costs. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Microsoft expands TikTok takeover ambitions to entire global business - FTMicrosoft Corp is chasing a deal to buy all of TikTok's global business, including its operations in India and Europe, the Financial Times ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »