SGX warns firms against misconduct in share buybacks
Add BT as a preferred source
Janice Heng
Singapore
THE Singapore Exchange (SGX) has advised companies to be careful not to breach insider trading or market manipulation rules when conducting share buybacks, suggesting, for instance, that they refrain from going into the market shortly before the release of financial statements.
In a regulator's column on Nov 26, Singapore Exchange Regulation (SGX RegCo) chief executive officer Tan Boon Gin cautioned that while a share buyback "serves as a useful capital management tool", using one to carry out any form of market misconduct such as insider trading or creating a false market is illegal.
TRENDING NOW
ComfortDelGro’s Zig to buy S$10 million worth of BYD cars for private-hire fleet
From sales executive to DBS chairman: A look at banking veteran Peter Seah’s career
Japan Home licenses Singapore retail stores to Valu$ owner Radha Exports
Japan Home closing outlets; staff say Valu$ taking over operations
