Investors must make their voices heard in current consultation on listing rule changes
Nine-year limit to independent director tenure and mandatory disclosure of board and CEO pay likely to meet resistance from corporate sector
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THE Singapore Exchange (SGX) has launched a public consultation on proposed changes to its listing rules that will limit the tenure of independent directors (IDs) to nine years and make the full disclosure of remuneration for directors and chief executives mandatory.
As this column noted last month, these changes are unlikely to be popular with corporate boards. Indeed, this public consultation could draw strong responses from parties with vested interests in the status quo. It is therefore crucial that investors ensure their voices are heard loud and clear.
The public consultation began on Oct 27, and is scheduled to end on Nov 17. The consultation paper and a template for responses can be found on SGX’s website.
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