News Release
10 April 2017
SGX appoints new members to independent Disciplinary and Appeals Committees
Singapore Exchange (“SGX”) is pleased to announce the appointment of 6 and 2 new members to its independent Disciplinary Committee and Appeals Committee respectively with effect from 10 April 2017. The appointments are made in consultation with the Monetary Authority of Singapore.
The Disciplinary Committee hears charges brought by SGX against persons who have breached SGX’s listing, trading or clearing rules. The Disciplinary Committee is able to impose a wide range of sanctions, including issuing public reprimands, imposing fines against issuers, sponsors, registered professionals, trading members, trading representatives and clearing members, denying issuers’ access to the market place, and requiring resignation of directors or executive officers.
The Appeals Committee hears appeals against certain decisions of SGX made under the listing rules and appeals against decisions of the Disciplinary Committee. The Appeals Committee can uphold, reverse or vary decisions of SGX or the Disciplinary Committee.
The new appointments to the Disciplinary Committee are: (1) Mr Cavinder Bull, Senior Counsel, Director, Dispute Resolution and Co-head, Competition Law & Regulatory Practice, Drew & Napier LLC, as the Co-Chairman; (2) Mr Tan Chong Huat, Senior Partner, RHTLaw Taylor Wessing LLP, as the Deputy Chairman; (3) Ms Cheng Ai Phing, Director, GIG Consulting Pte Ltd, as a member; (4) Mr George Lee, Senior Adviser, OCBC Bank (M) Bhd, as a member; (5) Dr Tommy Tan, Chief Executive Officer, TC Capital Pte. Ltd., as a member; and (6) Mr Soh Gim Teik, Partner, Finix Corporate Advisor LLP, as a member.
The new appointments to the Appeals Committee are: (1) Mr Chan Leng Sun, Senior Counsel, Head, Dispute Resolution in Baker McKenzie. Wong & Leow and Global Head, International Arbitration, Baker McKenzie, as the Deputy Chairman; and (2) Mr Kan Yut Keong Benjamin, Managing Director of Cornerstone Advisors Pte. Ltd., as a member.
A list of all the members of the Disciplinary Committee and Appeals Committee as at 10 April 2017 is set out in the Appendix. The members collectively have legal, corporate finance, directorship, accounting and capital markets-related experience.
The new appointees replace members who have recently retired or who will be retiring after having served for about 9 years or more on the respective committees. In November 2016, Mr Hamidul Haq and Mr Leong Mun Wai retired as Deputy Chairmen, while Mr Kan Shik Lum, Mr Lam Chee Kin and
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2 Shenton Way, #02-02 SGX Centre 1, Singapore 068804 main: +65 6236 8888 fax: +65 6535 6994 sgx.com Page 1 Mr Mah Kah Loon retired as members from the Disciplinary Committee; Mr George Lee, Mr Michael Wong Ping Seng and Mr Hugh Young retired as members from the Appeals Committee. The current Disciplinary Committee Co-Chairman, Mr. Eddie Tan, will retire in May 2017.
SGX Chief Regulatory Officer, Mr Tan Boon Gin said: “SGX’s long term success depends on our having and maintaining a solid record as a market regulator and operator, which in turn depends on the enforcement of our rules. The Disciplinary and Appeals Committees play a key role in disciplining errant market participants. We thank the retiring members, as well as existing members, for their service on the Committees and their contributions in making decisions on issues which impact market participants. At the same time, we welcome the new members who with their diverse backgrounds and expertise, will be well placed to participate in the Disciplinary and Appeals Committees’ decision-making.”
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About Singapore Exchange Singapore Exchange is Asia’s leading and trusted market infrastructure, operating equity, fixed income and derivatives markets to the highest regulatory standards. As Asia’s most international, multi-asset exchange, SGX provides listing, trading, clearing, settlement, depository and data services, with about 40% of listed companies and 75% of listed bonds originating outside of Singapore.
SGX is the world’s most liquid offshore market for the benchmark equity indices of China, India, Japan and ASEAN and offers commodities and currency derivatives products. Headquartered in AAA- rated Singapore, SGX is globally recognised for its risk management and clearing capabilities. For more information, please visit www.sgx.com.
Media Contact Carolyn Lim Marketing & Communications T: (65) 62368139 E: [email protected]
Page 2 SGX Disciplinary Committee
Number Name Position Title 1 Mr Eddie Tan Co-Chairman Managing Director, Regional Treasurer, Corporate Treasury, Asia Pacific, Citibank N.A. 2 Mr Eric Ang Teik Lim Co-Chairman Senior Executive Advisor, DBS Bank Ltd
Former Head of Capital Markets, DBS Bank Ltd 3 Mr Cavinder Bull, Senior Co-Chairman Director, Dispute Resolution and Counsel Co-head, Competition Law & Regulatory Practice, Drew & Napier LLC 4 Mr Tan Chong Huat Deputy Chairman Senior Partner and Managing Partner, RHTLaw TaylorWessing LLP 5 Mr Hemant Bhatt Member Chief Executive Officer – Downstream & Commercial, Golden Agri-Resources Ltd 6 Ms Cheng Ai Phing Member Director, GIG Consulting Pte Ltd
Council Member, Accounting Standards Council
Independent Non-Executive Director and Chairman of Audit Committee, ARA Asset Management (Fortune) Limited, as manager of Fortune Real Estate Investment Trust
Member, Board of Trustees, NTUC-Education and Training Fund
Former Senior Partner, Deloitte & Touche LLP 7 Mr Paul Davies Member Former Managing Director, Goldman Sachs Futures Pte. 8 Mr George Lee Member Adviser, OCBC Bank (M) Bhd.
Former Head of Global Corporate Banking and former Head of Global Investment Banking, OCBC Bank Ltd 9 Mr Francis Mok Lip Wee Member Partner, Allen & Gledhill LLP 10 Mr Colin Ng Teck Sim Member Executive Chairman and Partner, Colin Ng & Partners LLP 11 Mr Soh Gim Teik Member Partner, Finix Corporate Advisory LLP
Page 3 12 Dr Tommy Tan Member Chief Executive Officer, Co- Founder, TC Capital Pte Ltd 13 Mr Teyu Che Chern Member Chief Executive Officer, Phillip Futures Pte Ltd 14 Mr Lucas Tran Member Partner, Diversified Industrials & Infrastructure, KPMG LLP 15 Ms Yeoh Choo Guan Member Managing Director, UBS AG and Chief Executive Officer, UBS Securities Pte. Ltd.
Page 4 SGX Appeals Committee
Number Name Position Title 1 Mr Francis Xavier, Senior Chairman Regional Head, Dispute Counsel, PBM Resolution, Rajah & Tann Singapore LLP 2 Mr Chan Leng Sun, Deputy Chairman Head, Dispute Resolution, Baker Senior Counsel McKenzie.Wong & Leow Global Head, International Arbitration, Baker McKenzie 3 Mr Kan Yut Keong, Member Managing Director, Cornerstone Benjamin Advisors Pte. Ltd.
Audit Committee Chairman, Competition Commission of Singapore
Former Managing Director, PricewaterhouseCoopers Corporate Finance Pte Ltd 4 Mr Lim How Teck Member Chairman, Redwood International Pte Ltd
Chairman, Heliconia Capital Management Pte. Ltd.
Chairman, ARA-CWT Trust Management (Cache) Limited
Chairman, Swissco Holdings Limited
Chairman, NauticAWT Limited 5 Mr Quek Suan Kiat Member Director, Singapore Accountancy Commission
Director, National Environment Agency
Former Vice Chairman, Barclays Bank Plc Singapore Branch 6 Mr Michael Smith Member Regional Chief Executive Officer, Europe and USA, Mapletree Investments Pte Ltd
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