The gold rush to Singapore slows to a trickle

The latest round of qualifying foreign law practice (QFLP) licences in Singapore saw just four firms – Gibson Dunn & Crutcher, Jones Day, Linklaters and Sidley Austin – given permission to practise. Given that 23 global firms applied in the recent round, some local lawyers may be breathing sighs of relief that international competition has been limited. Unsuccessful applicants will now have to opt for Plan B: find a local association