MAS should match its proposed due diligence requirements with aggressive enforcement

THE Monetary Authority of Singapore (MAS) has proposed that corporate finance (CF) advisers exercise reasonable judgement in determining the scope of their due diligence work, assess the veracity of information obtained in the course of that work, and - when involved in initial public offerings (IPOs) - assess the suitability of listing the applicant.

Wait, what? Aren't all financial institutions and every holder of a capital markets services licence already expected to do these things?

Which of them have been playing fast and loose with their due diligence work? What unsuitable listing candidates have they foisted on unsuspecting public investors in Singapore?