SIAS chief calls for heavy fines on those who breach listing rules

Singapore

AMID the spate of penny stock price collapses last month, investor lobby group Securities Investors Association Singapore (SIAS) has asked the regulators to give more teeth to listing rules here by imposing heavy fines on individuals who flout them.

If corporate miscreants understand that there is greater likelihood of being found out, and that the cost of such breaches is high, perhaps they would think twice about dabbling in the market, SIAS president and CEO David Gerald said at an awards presentation ceremony last night. "Companies listing in Singapore must not take the view that if they breach listing rules, they can go scot free," he said.