SINGAPORE (Aug 12): Tan Boon Gin, CEO of Singapore Exchange Regulation (SGX RegCo), believes that upholding the integrity of the local market should take the form of a neighbourhood watch, where members of the community trust and rely on one another to keep everyone safe from harm. According to him, it is “impossible” for regulators to “legislate chapter and verse against every single permutation of conflicts of interest”.

Speaking at the launch of the Singapore Governance and Transparency Index 2019 on Aug 7, Tan says it is time for stakeholders “closest to the ground” to begin playing a more active role. For instance, sponsor firms ought to ensure that Catalist-listed companies consider not just the form but also the spirit behind the rules governing conflicts of interest, he says. Other market stakeholders, such as the auditors, industry associations and other professional bodies, can also do their part, he adds.

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