New members have been appointed to two independent Singapore Exchange (SGX) committees that oversee regulatory action.
Six new members have joined the disciplinary committee while the appeals committee has two new appointments. The new faces replace retired members.
The 15-member disciplinary committee examines charges levelled by the SGX against rule breaches. It has the power to impose sanctions ranging from public reprimands and fines to demanding resignation of directors or executive officers.
Drew & Napier dispute resolution director, Senior Counsel Cavinder Bull, has joined as one of its three co-chairmen, while RHTLaw Taylor Wessing senior partner Tan Chong Huat has been appointed deputy chairman.
The other four - GIG Consulting director Cheng Ai Phing; OCBC Malaysia senior adviser George Lee; TC Capital chief executive Tommy Tan; and Finix Corporate Advisor partner Soh Gim Teik - joined as members.
The two new appointments on the appeals committee are Baker McKenzie Senior Counsel and dispute resolution head Chan Leng Sun, who joined as deputy chairman, and Cornerstone Advisors managing director Benjamin Kan.
The six-member committee hears appeals against certain decisions by the SGX and the disciplinary committee. It can uphold, vary or reverse these decisions.
SGX chief regulatory officer Tan Boon Gin said the two committees "play a key role in disciplining errant market participants".
The SGX has set up numerous independent committees to enhance its decision-making processes for regulations and policies.
A new listings advisory committee was created in 2015 to advise the bourse on its listing policies. One of its recent moves was giving suggestions and backing to the dual-class share framework proposal.
Wong Wei Han