SINGAPORE (Mar 25): Local regulators and authorities have introduced new and enhanced measures in the wake of the penny stock crash, although they have maintained that this is an ongoing process and not a clean-up job of the damage left behind by John Soh and his associates.

In March 2014, less than half a year after the crash, the Singapore Exchange implemented the “Trade with Caution” (TWC) alerts system. This was part of a wider set of new and enhanced measures introduced by the exchange to keep tabs on unusual trading activities. Under this system, when unusual patterns are seen, alerts are automatically triggered.

While the number of alerts was high, they seemed to have little impact. For example, in the year to June 30, 2015, SGX issued 85 public queries and 47 TWC announcements. Companies could typically get away with giving a standard “not aware” response.

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