SINGAPORE: Singapore Exchange Regulation (SGX RegCo) and Nasdaq have extended their partnership by entering an agreement to cooperate on regulatory matters, building on an existing collaboration to help companies access capital markets funding in both jurisdictions.
The latest cooperation agreement will facilitate the regulatory exchange of information on issuers which are dual listed on both exchanges, including a streamlined framework for issuers seeking a secondary listing on SGX.
This streamlined framework allows secondary listing documents required for the SGX listing to be based on information contained in the US listing and subsequent filing documents to the US Securities and Exchange Commission and/or Nasdaq, together with additional disclosure in compliance with Singapore prospectus disclosure requirements.
“Protecting investors’ interests is important to both SGX and Nasdaq. This Memorandum of Understanding (MOU) which SGX RegCo is entering into with Nasdaq will enhance the oversight of dual listed issuers and streamline the relevant processes between both exchanges. Investors with interests in companies that have a profile in both markets will benefit from this regulatory cooperation,” said Tan Boon Gin, CEO of SGX RegCo.
“This MOU builds upon Nasdaq’s partnership with SGX to improve the regulatory cooperation between our exchanges,” said Nelson Griggs, President, Nasdaq Stock Exchange. “This agreement is reflective of our commitment to streamlining access to capital for issuers and protecting investors.”
The regulatory cooperation will further enable the monitoring and assessment of issuers, and the enforcement of regulatory actions, including referrals of cases to the authorities of the respective jurisdictions.