SGX RegCo to focus on meaningful regulation
The new unit set up to handle stock market regulatory functions is not looking to put in place more rules.
Instead, the focus will be on meaningful regulation, said Singapore Exchange Regulation (SGX RegCo) chief executive Tan Boon Gin.
The RegCo, mooted a year ago and officially established last month, is now preparing to take over all of SGX's regulatory functions by August.
Mr Tan, speaking on Tuesday at the Thomson Reuters Asean Regulatory Summit 2017, listed the factors which make for meaningful regulation.
The regulator needs to balance its role as a watchdog, protecting investors against market failure, with its role as a market shaper, to grow and develop the markets.
Its policymaking should also be informed by views from all market participants, Mr Tan said, adding that SGX RegCo aims to be more proactive in listening to feedback from all segments.
Finally, in order for regulation to be meaningful to all market participants, the regulator must be willing to be more open and transparent.
"We know that the market is sensitive to regulatory changes, and we will endeavour to signal major changes clearly and well in advance to give the market time to react. So from now on, the market can expect greater certainty," he added.
Mr Tan also said the pace of global regulatory change in the last few years has been "unrelenting" and regulators have to continue evolving to keep up.