The new procedures involve the possibility of SGX seeking a report by a corporate investigator on an IPO applicant, sponsorship disclosure requirement after listing, directors' training and foreign applicants' connection to Singapore.
Mr Alan Shaw, Executive Vice President and Head of Risk Management and Regulation at SGX commented on the new procedures, "It is important that while we continue to attract more local and overseas listing applicants to SGX, we also preserve our regulatory effectiveness. The new procedures will help us maintain the quality of intermediaries and listings on SGX."
In line with the introduction of Practice Note 2.1, SGX has revised Practice Note 1.1 "Listing Fees and Other Charges" to introduce a new paragraph on disbursements as a result of investigating compliance with the SGX listing rules.
