For compliance's sake
In the past decade, compliance has become a major area of concern for boards and management of companies, says DANIEL EE
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OVER the past decade, compliance has become a major area of concern for boards and management of companies.
Thirty years ago, it was evident mainly among financial institutions. Today, companies across all industries have to posit a framework to manage their compliance amid the increasing number of rules and regulations.
Apart from the Companies Act, a listed company in Singapore has to observe the provisions of the Securities and Futures Act, and the rules of the SGX Listing Manual. Those operating in certain industries are further subject to regulations applicable to those sectors, such as the Banking Act for banks, the Telecommunications Act for telecom companies and the Newspaper and Printing Presses Act for newspaper companies.
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