Singapore mulls over tougher stock market rules

Due to recent penny stock scandal.

According to Reuters' report, regulators in Singapore are planning to issue a consultation paper that will propose tighter rules for companies looking to list in the city-state, months after the stock exchange was hit by a penny stock scandal.

The Monetary Authority of Singapore (MAS) and Singapore Exchange Ltd are exploring various proposals including an independent listing committee to vet some IPO applications, stronger enforcement powers for SGX and tighter rules on stocks that fall below a certain price according to a source familiar with the review.

Read full report here.

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