SGX and Nasdaq to streamline exchange of regulatory information for dual listings

A NEW agreement between Singapore Exchange Regulation (SGX RegCo) and Nasdaq will facilitate the regulatory exchange of information on issuers that are dual-listed on both exchanges. This includes a streamlined framework for issuers seeking a secondary listing on SGX.

The agreement builds on an existing partnership between the two parties to help companies access capital markets funding in both jurisdictions.

The streamlined framework allows secondary listing documents required for an SGX listing to be based on information contained in the US listing and subsequent filing documents to the US Securities and Exchange Commission and/or Nasdaq, together with additional disclosure in compliance with Singapore prospectus disclosure requirements.

The regulatory cooperation will further enable the monitoring and assessment of issuers and the enforcement of regulatory actions, including referrals of cases to the authorities of the respective jurisdictions, said SGX.

"Protecting investors' interests is important to both SGX and Nasdaq. This Memorandum of Understanding (MOU) which SGX RegCo is entering into with Nasdaq will enhance the oversight of dual-listed issuers and streamline the relevant processes between both exchanges," said Tan Boon Gin, chief executive of SGX RegCo.