Stringent scrutiny of listed companies here to stay, warns SGX CEO

Find out what SGX has done so far this year in support of higher regulatory standards.

In his speech at the 13th Annual General Meeting held today, SGX CEO Magnus Bocker said he is the first to put up his hand in support of the highest regulatory standards and stringent scrutiny of listed companies, and that is regardless of where they come from or their pedigree.

Here's more from Bocker's speech:

Last year, I spoke here about higher regulatory standards being the trend of the future. This is even more obvious today than a year ago. The future of SGX lies in raising the standards of regulation and governance, championing the interest of investors. With the trust of investors, we will always be an attractive financial centre. That is to be remembered.

So what have we done to raise the standards?

Last year, we enhanced our Listing Rules to strengthen Corporate Governance practices including new rules on the role of the Board and directors of listed companies. We also introduced a Sustainability Reporting Guide for our listed companies.

In July this year, we met market practitioners and stakeholders including the Association of Banks in Singapore (ABS) to set up a new working committee to review our Listing Manual.

And then in August just a month ago, we introduced new Mainboard admission standards for IPOs, and that is very important because it really shows our commitment towards higher regulatory standards in order for us to attract bigger companies to Singapore and to SGX.

When I read the papers this morning, I was very pleased to read in the Business Times that Singapore has once again come out top in a closely watched corporate governance survey. The survey examined 11 markets and more than 800 listed companies across Asia.

It highlighted various regulatory changes made by the MAS and SGX in the last two years, and praised our efforts in showing a more consistent focus on improving corporate governance policies. I am therefore very happy that our efforts are being recognised, and I hope that you as shareholders, we will continue to have your support.

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