overview of capital markets

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1、OVERVIEWOFCAPITALMARKETSINSINGAPORESTAMFORDLAWContentsPageSectionPageSECTIONA.LEGISLATIVEANDINSTITUTIONALFRAMEWORK:......................................1SECTIONB.SECURITIESLISTEDONTHEMAINBOARD....................................................3SECTIONC.SECURITIESLISTEDONCATALIST.

2、................................................................8SECTIOND.PROSPECTUSREQUIREMENTSFOROFFERINGSOFSECURITIES:.......11SECTIONE.RECENTLYDEVELOPEDSECURITIESPRODUCTS:...................................13SECTIONF.PROPOSEDAMENDMENTSTOLISTINGRULES:............................

3、............17SECTIONA.LEGISLATIVEANDINSTITUTIONALFRAMEWORK:Singapore'scapitalmarketandsecuritiesindustryisregulatedbyanumberofagenciesandsystemsasprescribedinthefollowinglegislation,regulationsandrulebooks:•theCompaniesAct(Cap50);•theSecuritiesandFuturesAct(Cap289)andtheSecurities

4、andFuturesRegulations;•theMonetaryAuthorityofSingaporeAct(Cap186);•theMainboardListingManualandtheListingManualSectionB:RulesofCatalist;and•theSingaporeCodeonTakeoversandMergers.Theresponsibilitiesofcapitalmarketandsecuritiesregulationaredividedasfollows:•theCompaniesActisadministe

5、redbytheAccountingandCorporateRegulatoryAuthorityandlaysdownthelegalnatureofcompaniesinSingapore,aswellastheframeworkfortheircorporategovernanceandadministration;•theSecuritiesandFuturesAct(“SFA”)andtheaccompanyingregulationsisadministeredbytheMonetaryAuthorityofSingapore(“MAS”)and

6、governsthecreation,saleandlegalnatureofallformsofsecuritiesproductsinSingapore;•theCodeonTakeoversandMergersisadministeredbytheSecuritiesIndustryCouncilwhich,togetherwiththeMASandtheSingaporeExchange(“SGX”),hastheresponsibilityofoverseeingfairdealinginthesharesofpubliclistedcompani

7、es;•theMASisinchargeofadministeringthecivilpenaltyregimeforinsidertradingundertheSFA;and•theCommercialAffairsDepartmentisinchargeofinvestigatingandprosecutingcorporateandsecuritiesoffences.SGX-STandtheSecuritiesExchange:SGXownsandoperatestheonlyintegratedsecuritiesexchangeandderiva

8、tivesexchangeinSingaporean