SGX, partners issue standards for vendors of virtual meeting systems
The standards cover the functional capabilities of such systems, amongst others.
To ensure that companies can conduct their hybrid general meeting effectively, the Singapore Exchange Regulation (SGX RegCo) has issued standard vendors of virtual meeting systems.
SGX RegCo created the standards with the Singapore Institute of Directors (SID) and the Chartered Secretaries Institute of Singapore (CSIS) through the help of stakeholders across the market community.
According to the regulator, the standards cover the functional capabilities, general system availability levels, and recovery provisions of virtual meeting systems.
“With the standards made public, companies and investors may understand better what the digital services that are used at their meetings can do and how robust they are,” the SGX RegCo said.
“The release of the standards is further to SGX RegCo’s clarification issued in May 2022 that companies that choose to conduct fully virtual general meetings must utilise both real-time electronic voting and real-time electronic communication at their general meetings,” the regulator added.
SGX RegCo, CSIS, and SID encouraged all service providers of virtual or hybrid general meeting systems to adopt the standards.
Issuers were also encouraged to "have regard to this set of standards when choosing service providers for their virtual or hybrid shareholder meetings."