Tighter rules for corporate finance advisers may weigh on listings’ attractiveness

TOUGHER standards for corporate finance (CF) advisers introduced by the Monetary Authority of Singapore (MAS) may have an impact on the timeline needed for listings. They could also reduce the attractiveness of listings as a means for raising capital.

Industry practitioners told The Business Times that advisers would generally be practising most of the requirements set out in the notice already, and there should not be a material difference on how due diligence is conducted.

Nevertheless, the new rules may result in greater enforcement action from regulators. CF advisers would therefore be taking extra care to ensure proper documentation, which could weigh on listing activities.