Knowledge & Insights

The Corporate Governance Council ("Council") was established on 28 February 2017 to conduct a comprehensive review of the Code of Corporate Governance ("Code"). Public consultations on the Council's recommendations were conducted between January 2018 to March 2018 (The consultation paper is available here).

On 6 August 2018, the Monetary Authority of Singapore ("MAS") announced that it had accepted all the recommendations by the Council and issued a revised Code ("2018 Code") which will supersede and replace the existing Code that was issued in May 2012. The 2018 Code will apply to annual reports covering financial years commencing from 1 January 2019.

Following MAS' acceptance of the Council's recommendations, the Singapore Exchange has announced that it will make consequential amendments to the listing rules ("Listing Rules"). Save for certain amendments relating to director independence and board composition to which a longer transition period of three years has been provided, the revised Listing Rules will take effect from 1 January 2019. The responses to the consultation and recommendations of the Council, including the 2018 Code and the proposed amendments to the Listing Rules are available here.

This Update sets out some of the key changes proposed in the 2018 Code and the Listing Rules. 

If you would like information on this or any other area of law, you may wish to contact the partner at WongPartnership that you normally deal with or any of the following partners: 

Annabelle YIP
Joint Head - Corporate Governance & Compliance Practice
d +65 6416 8249
e annabelle.yip@wongpartnership.com
Click here to see Annabelle's CV.

Vivien YUI
Joint Head – Employment Practice
Partner – Corporate Governance & Compliance Practice
d +65 6416 8009
e vivien.yui@wongpartnership.com
Click here to see Vivien's CV.

Kevin HO
Partner – Corporate Governance & Compliance Practice
d +65 6416 2555
e kevin.ho@wongpartnership.com
Click here to see Kevin's CV.