SGX, Nasdaq Agree to Streamline Dual Listing Process

Source: Regulation Asia Editors, Regulation Asia 2020-07-22

Under the agreement, information previously filed with the US SEC or Nasdaq can be used to fulfil documentary requirements for a dual listing in Singapore.

SGX RegCo (Singapore Exchange Regulation) and Nasdaq have entered an agreement to extend their partnership and enhance cooperation on regulatory matters to help companies access capital markets funding from both exchanges.

The agreement will facilitate the regulatory exchange of information on issuers which are dual-listed on both exchanges, further enabling the monitoring and assessment of issuers, and the enforcement of regulatory actions, including referrals of cases to the authorities of the respective jurisdictions.

It also includes the introduction of a streamlined framework for Nasdaq issuers seeking a secondary listing on SGX. Under the framework, information contained in the US listing and subsequent filing documents to the US SEC (Securities and Exchange Commission) and/or Nasdaq, together with additional disclosure in to comply with Singapore prospectus disclosure requirements, can be used for the SGX listing.

“Protecting investors’ interests is important to both SGX and Nasdaq,” said SGX RegCo CEO Tan Boon Gin, adding that the agreement will enhance 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.”

SGX RegCo

Nasdaq

SGX, Nasdaq Agree to Streamline Dual Listing Process

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