SGX sets up independent listing panels to uphold market quality

Singapore

THE private sector from Oct 7 will play a larger role in determining who gets to list on the Singapore Exchange (SGX) and what happens to those who breach listing rules.

SGX has formed three independent committees to advise the market regulator on listing, disciplinary and appeal matters ahead of a new disciplinary framework that will take effect in three weeks. Members of the committee come from various segments of the investment and finance communities.

Blackstone Singapore chairman Gautam Banerjee will head the 15-member Listings Advisory Committee, which will advise SGX on listing policies, as well as listing applications to the mainboard which meet certain referral criteria. The criteria include those covering novel or unprecedented issues, requiring specialist expertise, and invo…