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SGX Regco to conduct strategic review of market rules: chairman
THE Singapore Exchange's (SGX) newly formed regulatory subsidiary will conduct a strategic review of its various rules after its board is fully formed to improve the market while striking a balance between regulation, compliance and cost, the subsidiary's chairman, Tan Cheng Han, said on Thursday.
"The eventual goal is not to burden the markets with more rules and regulation," he said. "Instead, we see Regco as a body that will shape the market to become more innovative, sustainable and efficient, and being a reference point globally for our regulatory framework and standards."
Professor Tan was appointed on April 6 to the chairmanship of the newly created Singapore Exchange Regulation Pte Ltd, also known as Regco, which will assume the entire regulatory function of SGX as part of a decision to better distance market regulation from commercial pressures.
Regco is expected to begin operations in August, and it will have a five-member board. The board will include Regco chief executive Tan Boon Gin, who held the role of SGX chief regulatory officer before the creation of Regco.