SGX set to expand privy list to all material transactions

Public consultation jumpstarts changes in regulatory measures.

According to a news release by Singapore Exchange (SGX), public consultation as well as informal feedback from the Singapore Institute of Directors and the Securities Investors Association have urged SGX to expand its privy list of significant transactions to include all material transactions. Concerns about privacy arose, though, so SGX will ask for additional personal data at a later stage to allow companies some leg room in deciding what information the expanded privy list should have.

Codification of the practice for companies and shareholders to notify SGX of the exchange of significant transactions was also considered. However, SGX subsequently decided to pull the brakes on this practice entirely due to a lack of consensus regarding the acceptable time to make such notifications in the first place.

SGX was quick to assert that companies are still expected to be mindful of their confidential transactions, and to report signs of unusual trading.

These changes shall take effect on 1 December 2015.

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