SGX plans to hard-code due diligence banking guidelines into listing rules

Singapore

SINGAPORE Exchange Regulation (SGX RegCo) plans to incorporate the due diligence guidelines issued by the Association of Banks in Singapore (ABS) under its Listing Rules, following a public consultation that will take place by the year end.

Currently, these guidelines for due diligence activities that banks carry out on companies seeking to list on the Singapore Exchange (SGX) are non-binding principles or best practices that do not have the force of law nor are they legally binding on members of ABS.