Herbert Smith Freehills has decided not to renew its Qualifying Foreign Law Practice license, which allows foreign law firms to practice Singapore law in exchange for meeting certain local hiring and revenue targets.
The six initial QFLP licenses issued in 2008 were set to expire in the second quarter of 2014. Singapore’s Ministry of Law announced Friday morning that four of the QFLP firms—Allen & Overy, Clifford Chance, Latham & Watkins and Norton Rose Fulbright—would have their licenses renewed for an additional five years. White & Case was given a one-year extension, with full renewal conditioned on meeting certain quantitative targets in that time.
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