Singapore Exchange divides role of regulatory, risk chief after penny stock crash


SINGAPORE:  Singapore Exchange Ltd (SGX) said on Friday it had split the role of its regulatory and risk chief officer, a move that follows a penny stock crash that raised questions about the firm's regulatory abilities.

SGX, which regulates listed companies that are also its clients, said in a statement its chief regulatory and risk officer, Yeo Lian Sim, was retiring at the end of this year and would be hired on as a special advisor. She has been with SGX since July 2004.

Her role will be split between Richard Teng, who will become the chief regulatory officer and Agnes Koh, who will take on the role of chief risk officer.

Teng has been deputy chief regulatory officer since Jan. 2012. Agnes Koh is currently the head of risk clearing.

Share price volatility in three inter-linked Singapore companies last month had raised questions marks over whether SGX had missed red flags and was too slow to act.

The Monetary Authority of Singapore is conducting a review of the stock crash.  - Reuters

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