SGX RegCo to get more powers to speed up disciplinary action

It's proposing to take on powers to mete out public sanctions, except for fines

Angela Tan

Published Thu, Aug 6, 2020 · 09:50 PM

Singapore

THE Singapore Exchange Regulation (SGX RegCo) is looking to sharpen its enforcement teeth by taking on some of the disciplinary powers that previously resided in what market observers say has been a rather ineffective industry-led Listings Disciplinary Committee (LDC).

On Thursday, the frontline market regulator unveiled proposed changes to the listing rules relating to its enforcement and disciplinary framework as well as whistleblowing regime. It said there is a need for SGX RegCo to be able to independently exercise a broader range of sanctions in order to deal swiftly with breaches of the listing rules. This would allow SGX RegCo to maintain investor confidence and preserve market integrity.