SGXRegCo targets to enhance regulatory presence in FY2020

It is working on a centralised platform for movements around corporate action, listing, and member applications.

SGX Regulation (SGXRegCo) will focus on three core areas in FY2020 in an effort to step up oversight, its CEO and chairman Boon Gin Tan said in the regulator’s annual report. The agenda includes the establishment of a whistle-blowing office for listed companies, a proposed codification of expectations of property valuers, and the enhancement of new rules governing issue managers in all matters to do with an IPO they sponsor.

Efforts around this include a proposal to increase the accountability of auditors, improve the Association of Banks’ Listings Due Diligence Guidelines, formulate a best practices guide for Independent Financial Advisors and review listed companies’ sustainability reports.

Furthermore, Tan said that they intend to review the Minimum Trading Price policy for its effectiveness in addressing the risk of excessive speculation.

SGXRegCo is also working on a digital platform that will include all corporate action, listing, and member applications, allowing submitters to track submissions and communicate with RegCo in a centralised manner.

In FY2019, SGXRegCo made a number of policy changes, such as the alteration of two delisting rules that requires exit offers to be ‘fair and reasonable’.

The regulator, along with the Monetary Authority of Singapore (MAS), have also launched a trade surveillance practices guide that aims to help brokers develop and implement good practices in their trade surveillance.