Tan Boon Gin

SGX lauded for targeted approach to market regulation, scoops Regulation Asia Exchange of the Year award for second straight year

SINGAPORE (Nov 18): Singapore Exchange (SGX) has been named “Exchange of the Year” in the Regulation Asia Awards for Excellence for the second consecutive year.

The award recognises SGX for its targeted approach to market regulation, and for demonstrating a commitment to moving to a “community” approach.

The judging panel noted SGX’s willingness to work with the industry to raise standards across the board.

SGX RegCo flags upcoming initiatives, seeks broader stakeholder participation to uphold market integrity

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”.

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SGX's revised delisting rules and their impact on privatisations through general offers

SINGAPORE (July 15): Singapore Exchange serves the needs of listed companies by providing a public platform for fundraising activities and information dissemination to their shareholders. Where companies wish to privatise, they may apply to SGX to be delisted (Voluntary Delisting).

A delisting reduces the exit channels for shareholders who remain invested in what is now a private company. As such, companies implementing a Voluntary Delisting are subject to certain requirements to safeguard investor interest.

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SGX RegCo sees targeted approach in enforcement, more powerful market discipline

SINGAPORE (May 27): Tan Boon Gin, CEO of stock exchange regulator Singapore Exchange Regulation, says the market can expect a stronger regulatory presence. “You will see a series of enforcement cases coming up quite soon,” he tells The Edge Singapore.

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Shaping the SGX investors want

SINGAPORE (May 24): For years, the Singapore Exchange has relied on a disclosure-based approach to regulate the behaviour of its listed members.

In a disclosure-based regime, the responsibility is on listed companies to keep shareholders up to speed on what’s going on with the business by making timely announcements of material changes or developments.

But since the penny stock crash of 2013, the SGX has launched more measures to ensure the market functions in an orderly manner.

SGX hones ability to scrutinise asset valuations, pressures auditors — will it close the ‘trust deficit’?

SINGAPORE (Feb 4): On Jan 25, Singapore Exchange Regulation (SGX RegCo) briefed several journalists about its plans to play a more active role in determining the scope of statutory audits of locally listed companies, and beef up its capabilities to scrutinise the value of corporate assets.

What companies should observe when conducting share buy-backs

SINGAPORE (Nov 30): Companies buy back their own shares for a variety of capital management reasons, such as to modify the company’s capital structure to improve the return on equity or to enhance earnings per share.

Singapore Exchange’s Listing Rules allow a company to purchase its own shares if it has obtained the prior approval of shareholders in a general meeting. The share buy-back is limited to 10% of the total number of issued shares as at the date shareholders’ approval is obtained for the share buy-back mandate.

Midas audit committee lodges report with CAD over China ops; SGX RegCo looking into matter

SINGAPORE (Mar 29): Midas Holdings has lodged a police report with the Commercial Affairs Department of the Singapore Police Force.

This is in relation to a possible breach of securities laws and other offences arising from the irregularities in the group’s operations in China.

"The full extent of the possible breach of securities laws or other offences, or other potential breaches (if any) has yet to be determined," says the audit committee in a 6.38pm filing.

SGX seeks feedback for changes in continuous disclosure requirements

SINGAPORE (Dec 7): The Singapore Exchange has proposed changes in three broad areas involving continuous disclosure requirements.

Listed companies undertaking a rights issue must now include a directors’ statement on why issuing new shares to raise funds is in its best interest of its shareholders.

Besides stating upfront principal terms of the rights issue, any discount given in the issue price of the new shares will also have to be justified.

SGX refines unusual trading activity surveillance to cut down 'unneccessary' noise

SINGAPORE (Nov 1): The number of queries made by the Singapore Exchange on unusual trading activity could fall by half, following a refinement of the bourse operator’s surveillance system that will take place on Wednesday.

“We are giving more leeway, we are allowing the price to move more, the volume to increase more, before we query,” says CEO of SGX RegCo, Tan Boon Gin, in an interview on Tuesday.

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