"If you look at it holistically from a market point of view, you look at what we have today: our trading volumes are up; retail participation is up; scores for companies, and business trusts have increased sharply and are now at record highs," Mr Tan said.
One example of a measure to address corporate malfeasance is the issue of Notices of Compliance , which have been increasingly aggressive. The NOC sets out SGX RegCo's concerns and expectations when a company issues a special audit report or independent review. Another example is getting the special auditor to report exclusively to SGX RegCo.
Mrs Thio said:"Currently, where cases are referred to the LDC, there is no visibility to the market as to which cases are before the LDC, which is important for building market confidence in the oversight and supervision process. Since the formation of the LDC in October 2015, there have been 18 notices of charges but only three heard."The creation of the LDC has led to unnecessary bureaucracy, conflicts between the LDC members and companies/directors, and the LDC holding things up without accountability," he said.
Adrian Chan, head of the corporate department and a senior partner at law firm Lee & Lee, said"justice delayed is often justice denied''.
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