SGX’s regulatory enforces rules on auditors due to market criticism

In dealing with listed companies, and standards on valuation reports, Singapore Exchange’s regulatory unit would improve the standard on auditors and valuers. 

According to Singapore Exchange Regulation (SGX RegCo), CEO Tan Boon Gin, the current rule changes improve the standards required of auditors and property valuers in dealing with listed companies. 

He also commented that they expect the quality of the market and investor protection to improve a result. 

Due to the market criticism faced by SGX RegCo, they decided to step up disciplinary action on companies and stricten listing requirements, while also making it mandatory for firms to have whistleblowing policy. 

SGX has been working to stricten the regulations and sustain liquidity after a penny stocks crash in 2013 battered investor confidence. 

As a world’s biggest global listing hub for real estate investment trusts and business trusts, SGX became a key segment for retail investors.  

Regulatory regime for conduct of auditors, circumstances to direct appointment of an additional auditor, qualifications of property valuers and standards for property valuation reporting are the main changes of the regulation. 

 The strict rules will be effective on Feb 12.