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DATETUE 16 JUN 2026
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Today's Specials

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01○ NEWS

MAS to lift the 5 per cent cap on physical investment precious metals for tax-incentivised funds.

MAS will remove the existing 5 per cent limit on physical investment in precious metals under tax incentive schemes for funds. Further implementation details are expected to be released by September 2026.

Why it mattersFund managers and family offices should review their investment mandates and portfolio allocations in light of increased flexibility for physical gold holdings.

02○ NEWS

The US administration has issued an export control directive restricting access to advanced AI models for foreign nationals.

The Trump administration has ordered Anthropic to disable access to its Claude Fable 5 and Mythos 5 models for all non-US citizens. The directive cites significant national security and cybersecurity vulnerabilities as the justification for this restriction.

Why it mattersLawyers advising tech firms on cross-border data flows and product distribution must monitor these expanding US export controls for compliance risks.

03○ NEWS

The EU AI Act establishes a comprehensive regulatory framework with significant financial penalties for non-compliance.

The European Union's AI Act prohibits AI systems that threaten human safety, dignity, or civil liberties, such as intrusive facial recognition or social scoring. Violations can result in fines of up to €35 million or 7% of a company's total global annual turnover.

Why it mattersCompanies operating globally must ensure their AI deployment strategies align with these strict EU prohibitions to avoid massive turnover-based penalties.