SGX to set up subsidiary company with separate board for regulatory functions

SINGAPORE (July 18): Singapore Exchange (SGX) on Monday announced it is setting up a separate subsidiary company (RegCo) governed by its own Board of Directors to undertake all the front-line regulatory functions it currently performs.

SGX said this was to enhance its governance as a self-regulatory organisation (SRO), by making more explicit the segregation of its regulatory functions from its commercial and operating activities.

SGX Chief Regulatory Officer Tan Boon Gin will be the CEO of RegCo and report directly to RegCo’s Board, which will be separate from that of SGX. SGX said it expects to set up RegCo by the second half of 2017.

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