Legal Update: Enhancements to SGX’s Powers
Following a public consultation conducted by SGX in August 2020, SGX has announced certain amendments to the SGX Listing Rules that took effect from 1 August 2021.
Of particular interest is the enhancements to the administrative and enforcement powers of Singapore Exchange Regulation (“SGX RegCo”) in relation to the appointment of directors and executive officers (“Key Personnel”) of issuers. These enhanced powers include, amongst others, the power to object to the reappointment of a Key Personnel and the power to require the resignation of a Key Personnel from an existing position.
In this legal update, we examine the enhanced powers of SGX RegCo with a focus on the appointment of Key Personnel and its effect on the regulatory landscape.
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