SGX RegCo – Public Consultation on Changes to Listing Rules regarding Long-Serving Independent Directors (IDs) and Specific Remuneration Disclosures

01 Nov 2022 Corporate Governance & Compliance

On 27 October 2022, Singapore Exchange Regulation (SGX RegCo) released a public consultation paper seeking feedback on two key proposals: (a) the imposition of a 9-year hard limit for IDs; and (b) mandatory disclosure of the specific remuneration of each director and the chief executive officer in the annual report.

The public consultation follows from the recommendations of the Corporate Governance Advisory Committee dated 13 September 2022, which can be found here and SGX RegCo's statement of the same date, which can be found here, both of which are in respect of the report published by KPMG Singapore of listed companies’ disclosures on their compliance with the Code of Corporate Governance on 13 September 2022. You may also wish to read our previous client update here.

If you would like information or assistance on the above or any other area of law, you may wish to contact the Partner at WongPartnership whom you normally work with or any of the following Partners:

Kevin HO
Co-Head – Corporate Governance & Compliance
d +65 6416 2555
e kevin.ho@wongpartnership.com
Click here to view Kevin's CV.

Annabelle YIP
Senior Consultant Principal Member – Corporate Governance & Compliance
d +65 6416 8249
e annabelle.yip@wongpartnership.com
Click here to view Annabelle's CV.

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

Jayne LEE
Partner – Corporate Governance & Compliance
d +65 6416 8256
e jayne.lee@wongpartnership.com
Click here to view Jayne's CV.