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More regulatory changes needed to enable IDs to act without fear or favour

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    • Market regulators should conduct a more comprehensive review and further amend existing listing rules to better equip independent directors in their governance roles of listed companies
    • Market regulators should conduct a more comprehensive review and further amend existing listing rules to better equip independent directors in their governance roles of listed companies PHOTO: PIXABAY

    Robson Lee

    Published Tue, Jan 24, 2023 · 05:50 AM

    SINGAPORE Exchange Regulation (SGX RegCo) recently announced that it is compulsory for listed companies to limit the tenure of independent directors to nine years.

    Independent directors who presently exceed the nine-year limit will only be deemed independent until the issuer’s annual general meeting is held for the financial year ending on or after Dec 31, 2023.

    The regulators and market commentators have opined on the raison d’etre and justifications for the latest listing rule.

    Corporate governanceBoard of DirectorsSGX

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