Singapore Bourse Seeks Tighter Norms on Retail Bonds After Hyflux's Collapse

Singapore Exchange Ltd’s (SGX) regulatory unit is looking into imposing stricter regulations for listed retail bonds, including tightening the admission criteria, a move that follows a high profile default by water treatment company Hyflux, Reuters reported. In a statement on Thursday, Singapore Exchange Regulation (SGX RegCo) said it had set up a working group comprising representatives from law firms, banks and an investor group to review the retail bonds regulatory framework. “The possibility of tightening the admission criteria including requiring a minimum level of subscription by institutional investors and a credit rating are among matters to be discussed,” said Michael Tang, head of listing policy and product admission at SGX RegCo. Read more

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