MAS says will review SGX findings on market closure before deciding action

MAS has said that it will review the investigation findings before deciding on the appropriate supervisory actions regarding the closure of Singapore Exchange's securities market on Thursday (July 14).
MAS has said that it will review the investigation findings before deciding on the appropriate supervisory actions regarding the closure of Singapore Exchange's securities market on Thursday (July 14).PHOTO: ST FILE

SINGAPORE (REUTERS) - Singapore's central bank said on Friday (July 15) it took a serious view of the closure of Singapore Exchange's securities market and would decide on the regulatory actions after the bourse had submitted its investigation report.

"We have instructed SGX to address the root cause of the problem, and to submit a thorough investigation report to MAS," the Monetary Authority of Singapore, which regulates SGX, said in a statement.

MAS will review the investigation findings before deciding on the appropriate supervisory actions, its spokesman said in an email.

 

Trading in the Singapore securities market resumed on Friday after the fourth major interruption on the exchange in two years, piling pressure on CEO Loh Boon Chye as he tries to rejuvenate a bourse facing stiff competition in the region.