SINGAPORE: Singapore Exchange Regulation (SGX RegCo) and the Israel Securities Authority (ISA), the national securities regulator, have agreed to cooperate to enhance protection for investors in issuers dual listed on Singapore Exchange (SGX) and Tel-Aviv Stock Exchange (TASE).
The regulatory cooperation will enable SGX RegCo and ISA to exchange information, and enhance how both regulators assess and monitor listing applicants and issuers’ compliance with the listing rules of SGX and the relevant securities law and regulations ISA administers respectively.
The agreement supplements and builds upon the business partnership that TASE and SGX entered into to grow capital-raising opportunities for companies.
“We deeply value the ongoing cooperation with SGX RegCo and hope to implement this MOU soon for the benefit of investors and companies dual-listed on both markets. This MOU further improves ISA’s unique and successful dual listing arrangement, and we anticipate more companies listed outside Israel to add Tel-Aviv as a listing venue and enjoy the advantages of the Israeli capital market, including the deep exchange-traded bond market,” said Offir Eyal, Director of International Affairs and Business Development Department, at the Israel Securities Authority.
“This cooperation between the Israel Securities Authority, which is the national securities regulator, and SGX RegCo, Singapore’s front-line market regulator, sends a strong signal of our joint commitment towards addressing investor concerns. This will aid the confidence of investors venturing into companies of a different jurisdiction or region,” said Tan Boon Gin, CEO of SGX RegCo.