Date: July 18, 2016
SIAS welcomes the latest move by SGX to appoint an independent body to take charge of its regulatory function. This has been long overdue. Its the right thing to do. It has been the market participants’ desire to see an independent body like the Securities Commission in all ASEAN countries and other developed markets, to allow the Regulatory body to be fully independent of the bourse. I said “a policeman cannot do business with the very citizens he is policing”. Although SGX has put in place various oversight Committees to manage the apparent perceived conflict of interests, it is certainly better off concentrating fully on it’s business and leaving the regulatory duties to an independent body. The devil is in the details and it is better for MAS to be the appointing body of this new Regulatory body to give it complete independence. It is crucial as this new Regulatory body will have to deal also with SGX as a listed company. Congratulate SGX for making this move.
David Gerald
Founder, President & CEO
Securities Investors Association (Singapore)
