Dear stakeholders,

We are writing to you in unusual times. For the first time in recent history, we are experiencing a global health pandemic which has caused national shutdowns and unprecedented policy responses. I am sure that your own company and industry have had to make extensive changes both externally, in business outlook and strategy planning, and internally, for business continuity and staff working arrangements.

This is also an opportune time for the Singapore Exchange Regulation (SGX RegCo) to do our own bit of reflection. In the past few years, we have shared our approach to regulation as being that of a delicate balancing exercise. There is no perfect “end state” or “ideal” picture of what good regulation looks like. We receive new information every day which may prompt us to take action or change course. A captain steering a ship looks around him at the changing weather conditions, sea water levels, routes of ships in neighbouring waters and watches out for oncoming currents.

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